The U.K. digital transformation market size is expected to reach USD 146.63 billion by 2030 and grow at a CAGR of 22.2% from 2022 to 2030, according to a recent report by Grand View Research, Inc. The growth can be attributed to the increasing e-government and smart city initiatives, growing internet penetration, and rapid adoption of digital services in various industry sectors. The expanding use of the Internet of Things (IoT), machine learning, and Artificial Intelligence (AI) in digital transformation has prompted a key trend in the market for digital transformation strategy consulting. This has created unrivaled opportunities for organizations to harness the disruptive power of emerging technologies for better decision-making, distinct competitive advantages, and other profitable payoffs.
The growing demand for precise The widespread adoption of industrial robots for enabling industries to use robots to streamline processes, increase efficiency, and eliminate errors, is also promoting digitization in the region. Furthermore, industrial robots are predominantly used for mass manufacturing and production-based assembly applications, such as spot welding, among other manufacturing stages in the automotive, electronics, and other industries. For instance, ATM Automation, the U.K.-based automation company, develops automation and robotics solutions for a wide range of industries such as automotive, medical, plastics, and consumer package & goods. These advancements in various sectors will create lucrative business opportunities for the regional market during the forecast period.
The government attempted several government initiatives to speed up the digital transformation journey in the country, such as strict adherence to regulatory norms to protect data, fueling a new era of startups and scaleups, and unleashing the transformational power of AI. For instance, the country’s government launched the National AI Strategy in September 2021, to increase resilience, productivity, growth, and innovation across the private and public sectors. This strategy ensures the U.K. gets the governance of AI technologies right to encourage innovation and investment, and protect the public and our fundamental values. These initiatives and strategies will fuel the development of the regional market during the forecast period.
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The social media segment is expected to witness a significant CAGR of 24.0% during the forecast period. Social media is increasingly being employed to upscale brand authority and boost conversion rates, which enhances the customer experience. This medium is utilized for maintaining public relations, promoting sales, and marketing the available products and services. These factors will supplement the growth of the segment
The hosted segment is expected to observe a CAGR of 25.7% during the forecast period. It enables enterprises and start-ups to gain complete access to organizational data and easy accessibility and upgradability. These benefits will supplement the growth of the segment over the forecast period
The Small and Medium Enterprise (SME) segment is expected to witness a significant CAGR of 23.7% during the forecast period. The growth can be attributed to the rising adoption of digital platforms in SME business models. Moreover, the growing understanding of the advantages of digitalization has resulted in substantial investments by businesses to extend and maintain their current position in the market
The retail segment is expected to observe a CAGR of 22.3% during the forecast period. The advent of digital technologies for the collection, storage, analysis, and distribution of information has created new dynamics in the digital transformation of the retail market. Moreover, digitalization can be employed to improve the in-store experience by using kiosks and interactive displays to help customers look through the entire catalog of offerings
Grand View Research has segmented the U.K. digital transformation market based on category, type, financial institution, and end use:
U.K. Digital Transformation Solution Outlook (Revenue, USD Billion, 2017 - 2030)
Others ((Cybersecurity, IoT, and AI, among others)
U.K. Digital Transformation Deployment Outlook (Revenue, USD Billion, 2017 - 2030)
U.K. Digital Transformation Enterprise Size Outlook (Revenue, USD Billion, 2017 - 2030)
Small and Medium Enterprise
U.K. Digital Transformation End-use Outlook (Revenue, USD Billion, 2017 - 2030)
IT & Telecom
Others (Education, Construction, Energy & Utilities, and Telecommunications)
List of Key Players in the U.K. Digital Transformation Market
Hewlett Packard Enterprise Development LP
International Business Machines Corporation
Alvarez & Marsal
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