Signal UK technology ecosystem valued at one trillion pounds

Summary

The report observes that global technology firms supplying hardware, software and digital services have become essential to many interconnected services such as e-commerce platforms and payment systems. These firms are major employers and investors in the UK technology ecosystem, which is valued at one trillion pounds. Yet there is a risk that powerful companies use economies of scale and market power to dominate the markets they operate in. High entry barriers, including large investments and specialist expertise, further entrench that dominance. As a response, the report points to the Industrial Strategy and the Digital and Technologies Sector Plan, which set out a vision of a globally leading and competitive UK technology sector.