Software Development in the UK after Brexit and a pandemic

2015–2020

The software industry grew by about 7,3% from 2015 until now. The Software Development industry depends on operators that write, change, and test software. Software systems, web pages, databases, or applications software, for example.

The UK expects the Software Development industry’s revenue to rise at an annual compound rate of 5.3%. This equates to roughly £34,4 billion. This growth is also thanks to the adoption of smartphones and tablets, for example, from 2015 until now.

Every company, every business, and every individual relies on electronic devices nowadays. It forms a part of everyday life, and in most aspects of our lives—the news, social media, websites, online recipes, videos, and even online education. Today, automated client-relationships software is also used more and more.

Advertising companies are gaining from the development of software. Advertising software applications are beneficial today. Without realizing it, the industry is being woven into our modern culture. All around the world. But, it hit a bit of a rough patch lately…

2020–2025

The Software Development industry is taking a beating with the worldwide Covid-19 pandemic. Industry revenue might grow slower over the next 5 years. Put the pandemic together with the UK’s transitioning out of the EU, and you have a bit of an industry setback. A delay in investing in expensive software investments constrained the industry during the pandemic as well as the transitioning out of the EU.

UK software operators cannot access EU funding anymore. The industry will also suffer a loss of research collaboration from the EU. But, the annual revenue won’t completely stop. It will still increase, but slower than in previous years.

On a lighter note, niche markets are on the rise. Due to this, people are finding other ways to cope with life. This can be a good thing because enterprise and establishment numbers will pick up. The industry profit might even remain fairly stable due to these markets. Now we have to wait and see what happens next…