Throughout 2020 the tech sector in the UK has remained robust, despite the impact of the coronavirus pandemic. This is in part thanks to the role that the tech sector has played in managing the impact of the pandemic since many businesses have been forced into remote working environment reliant on digital platforms and the government has turned to apps for tracking infection and exposure throughout the population.
The technology sector is likely to continue to see growth in the future now that many companies have seen improvements in efficiency following the move to remote work. The digital transformation that many businesses have experienced in the last year will see new software and technology advanced at a much faster pace.
The sector is well funded and many businesses have been able to drive their goals forward over the last year without needing to access loans or emergency fund channels. Though not all have been unscathed in 2020, many tech companies have shown that they have good cash reserves available to keep business afloat even during a crisis.
Robotics is expected to be an important area of growth for the tech industry moving forward, especially the field of medical technology and robotics. In the wake of recent global events, contact free technology is also expected to play and increasingly important role in daily life and so it’s expected that new products and technology will be developed to assist. Moving forward many tech companies will also likely use more diverse and localised suppliers to ensure they are not overly reliant on overseas markets or suppliers. Government investment into tech infrastructure such as the 5G network are expected to be accelerated and predictive technology is likely to be on the agenda for many tech companies in future years.