The UK’s technology economy is growing at a rapid rate, new research has found.
According to a study carried out by Tech Nation, an estimated turnover of £161 billion will be generated from an industry that boasts 1.56 million jobs.
The data explores all regions of the technology sector to include cyber security, e-commerce, enterprise and devices. It also looks at the geographical hotspots that host the businesses at the heart of this technology expansion.
London is home to 328,000 technology jobs. Local companies include Transferwise. Manchester also has a high concentration of tech-orientated jobs. Local companies there include Apadmi and PushDoctor which hire 52,000 people.
Cambridge has a much lower number of tech jobs, but they are very high-profile companies. Businesses such as ARM and the Raspberry Pi Foundation are based in the city along with it being the UK base for the likes of Microsoft and Apple.
The data presented indicates that the UK tech economy is in a healthy state for businesses and employees alike.
Salaries within technology are 36 per cent higher than the national average, demonstrating that Tech Nation’s ‘clusters’ have seen growth across turnover, digital jobs and advertised digital salaries.
The UK tech industry is growing at a rate of 32 per cent per-annum, more than any other economy in the country.
Niche digital skills are starting to gain momentum, with an increasing number of students taking up STEM (science, technology, engineering, mathematics) subjects. This will hopefully reinforce the UK’s booming digital economy.