IT Consulting & Implementation - United Kingdom

United Kingdom

Revenue in the IT Consulting & Implementation market is projected to reach €5.12bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.75%, resulting in a market volume of €6.77bn by 2029.
The average Spend per Employee in the IT Consulting & Implementation market is projected to reach €147.20 in 2024.
In global comparison, most revenue will be generated in the United States (€25,240.00m in 2024).

Key regions: Brazil, Netherlands, Spain, Italy, Japan

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Analyst Opinion

The IT Consulting & Implementation market in United Kingdom has been experiencing steady growth in recent years.

Customer preferences: UK businesses are increasingly relying on IT consulting and implementation services to help them stay competitive in a rapidly evolving technological landscape. With the rise of cloud computing, mobile devices, and big data, companies need expert guidance to ensure that their IT infrastructure is up-to-date and optimized for their specific needs. Additionally, businesses are looking for IT consultants who can help them navigate the complexities of data privacy and cybersecurity.

Trends in the market: One major trend in the UK IT Consulting & Implementation market is the increasing demand for digital transformation services. Many businesses are looking to modernize their operations and improve their customer experience by adopting new technologies such as artificial intelligence, machine learning, and the Internet of Things. Another trend is the growing popularity of agile development methodologies, which emphasize collaboration, flexibility, and continuous improvement.

Local special circumstances: Brexit has had a significant impact on the UK IT Consulting & Implementation market. Many companies are uncertain about the future of the UK economy and are hesitant to invest in new technology projects. Additionally, there is a shortage of skilled IT professionals in the UK, which has driven up the cost of IT consulting services. Finally, the COVID-19 pandemic has accelerated the shift towards remote work and digital transformation, creating new opportunities for IT consultants who specialize in these areas.

Underlying macroeconomic factors: The UK economy has been growing steadily in recent years, driven by a strong services sector and low unemployment. However, Brexit has created uncertainty and volatility in the UK economy, which has made it more difficult for businesses to plan for the future. Additionally, the COVID-19 pandemic has had a significant impact on the UK economy, with many businesses struggling to stay afloat. Despite these challenges, the IT Consulting & Implementation market in the UK is expected to continue growing in the coming years, as businesses seek to stay competitive in an increasingly digital world.

Methodology

Data coverage:

The data encompasses B2G, B2B, and B2C enterprises. Figures are based on enterprises' technology spending on products, consulting, and outsourcing services.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players in the industry, Statista's primary research and surveys, and IT associations. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, and telecommunication. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing method is used based on the market data characteristics. The main drivers are the GDP and its sector composition, internet penetration, the level of digitization, and the attitude toward IT security.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.