Table of Contents
Management Consultants in the UK
Charities in the UK
Business Process Outsourcing Services in the UK
Computer Consultants in the UK
Construction Contractors in the UK
Consultant Engineering Services in the UK
E-Commerce & Online Auctions in the UK
Freight Road Transport in the UK
Pension Funding in the UK
Takeaway & Fast-Food Restaurants in the UK
1. Management Consultants in the UK
Number of Businesses for 2023: 169,480
Over the five years through 2022-23, revenue is projected to climb at a compound annual rate of 2.3%. This growth has primarily been driven by an enhanced demand for IT consulting services. In addition, regulatory changes in the financial services sector, the industry’s largest downstream market, have benefitted the industry, as banks and other financial institutions have required assistance to reformulate business strategies and operations to comply with new policies.Plunging business confidence following the COVID-19 outbreak reduced demand for consulting services in 2020-21, as downstream companies held back on expanding their operations in the immediate aftermath of the outbreak.
2. Charities in the UK
Number of Businesses for 2023: 161,359
Industry revenue is expected to contract at a compound annual rate of 4.3% over the five years through 2023-24 to £51.2 billion. Industry growth has been constrained by falling funding from the EU because of Brexit. High-profile scandals have prevented major players from claiming government funding and reduced support from the public. In combination with public funding cuts, demand for social services has risen. Cuts to overseas aid budgets, announced in November 2020, are constraining revenue over the two years through 2023-24.
3. Business Process Outsourcing Services in the UK
Number of Businesses for 2023: 155,200
Business process outsourcing (BPO) companies provide services to clients in all sectors of the economy, with the financial services and public sectors being particularly important markets. IT adoption and government expenditure have increased throughout the period, incentivising businesses to invest more heavily in IT systems and upgrades, supporting demand for BPO services.Industry revenue is forecast to fall at a compound annual rate of 2.5% over the five years through 2023-24 to £71.5 billion, including expected growth of 4.6% in 2023-24.
4. Computer Consultants in the UK
Number of Businesses for 2023: 121,641
The Computer Consultants industry is composed of businesses that provide expert advice and assistance in planning and designing computer systems that integrate computer hardware, software and communication technologies. Computer consultants provide services to clients in all sectors of the economy, although the financial services and public sectors are particularly important markets. Demand for industry services is largely influenced by business confidence levels, which typically rise and fall in line with general economic conditions, and technological advancements, particularly those that are beneficial to businesses.
5. Construction Contractors in the UK
Number of Businesses for 2023: 94,545
Companies in the Construction Contractors industry are active across the building construction and civil engineering markets. Despite being remunerated for completing new building and infrastructure construction contracts or fulfilling maintenance, repair, renovation and remodelling contract obligations, the spectrum of services offered by civils and general building contractors in this industry is multifaceted. Some contractors focus on new dwellings construction, while civil engineering specialists afford clients services across the infrastructure value chain. Some contractors specialise in commercial building activity, while many independent contractors may focus on small-scale repair and maintenance contracts in local markets.
6. Consultant Engineering Services in the UK
Number of Businesses for 2023: 74,081
Over the five years through 2023-24, revenue is projected to dip at a compound annual rate of 1.6% to £62.3 billion. However, this is mainly the result of a sharp drop in revenue in 2020-21, as industry demand slumped amid depressed business investment and subdued construction activity during the COVID-19 outbreak. Commercial construction deteriorated amid plunging business confidence. Nevertheless, strong infrastructure construction activity, including electricity and telecommunications infrastructure construction, has underpinned industry revenue. In addition, government capital spending has increased over the period, as highlighted by the approval of large infrastructure projects.
7. E-Commerce & Online Auctions in the UK
Number of Businesses for 2023: 64,204
Companies in the E-Commerce and Online Auction industry sell a diverse range of goods through online portals. Over the past decade, the industry has undergone considerable change, switching from focusing on mail orders and direct TV and telephone sales to e-commerce, driven by the expansion and accessibility of internet services. The increasingly integrated nature of the internet and smartphones in everyday life has been pivotal in developing mobile applications and driving growth. Over the five years through 2022-23, e-commerce revenue is expected to expand at a compound annual rate of 8% to reach £47.4 billion.
8. Freight Road Transport in the UK
Number of Businesses for 2023: 58,874
The Freight Road Transport industry operates the most extensive transport network of all freight modes, providing much-needed flexibility and the convenience of door-to-door haulage. The industry has historically offered faster and more reliable delivery times and less damage to goods than other freight methods, making it popular. According to the latest data from the Department for Transport, road transport accounted for 77.4% of all goods moved in the UK in 2020. Revenue is expected to contract at a compound annual rate of 1.5% over the five years through 2023-24 to £33.5 billion, including a 0.8% drop in 2023-24.
9. Pension Funding in the UK
Number of Businesses for 2023: 55,477
Pension funds are undergoing a period of change. The past few years marked a shift from defined benefit (DB) to defined contribution (DC) schemes dominating the industry. Following the onset of the COVID-19 pandemic, equity markets were destabilised, causing asset values to decline in 2020. However, the steady recovery of economic conditions as the pandemic wound down was mirrored in equity values, supporting pension fund assets.Pension funds were rocked in late 2022, when a fire sale of gilts meant that funds were forced to sell assets to meet margin calls.
10. Takeaway & Fast-Food Restaurants in the UK
Number of Businesses for 2023: 48,847
A growing number of busy on-the-go consumers is maintaining healthy revenue levels among takeaway and fast-food operators. Britons’ growing health and sustainability awareness is presenting a significant opportunity for takeaway and fast-food businesses to introduce more expensive organic and meat-free menu items. Industry revenue is expected to grow at a compound annual rate of 0.5% over the five years through 2022-23 to £21.6 billion, including forecast growth of 0.9% in 2022-23.A weak spending environment, combined with operating challenges during the pandemic, is casting a shadow over industry performance.
Source from IBISWorld
Disclaimer: The information set forth above is provided by IBISWorld independently of Alibaba.com. Alibaba.com makes no representation and warranties as to the quality and reliability of the seller and products.
