With 1.46 million workers currently employed by digital technology companies no wonder the sector has been lauded for its dedication to innovation and skills.
This number is set to grow by 5.4% by 2020 as 90% of companies expect revenue to start growing quickly.
So how has Britain managed to become a World hub of expertise?
Education, Education, Education
According to TechCity UK ‘we have one of the worlds strongest digital economies”, with competencies extending from software development, computer games and virtual reality.
The focus and concentration of digital capabilities and specialisms has been led to a big extent by educational institutions.
Edinburgh University’s courses on artificial intelligence, machine learning and software development has led to a concentration of new companies setting up with these competencies.
Similarly in Bournemouth a wealth of talent with UI/UX and computer simulation expertise has created a “marketing and gaming cluster”.
There has been heavy investment in communications infrastructures. The roll out of 4G mobile phone networks allowing data hungry devices to function more effectively and more efficient services to be offered via our mobiles.
Companies such as WightFibre are now operating regional tests of wireless broadband and “hyper-fast” broadband networks with speeds of up to 152Mb.
Meanwhile in London specialist companies such as Vision Fibre Media and Hyperoptic are offering business and residential fibre optic broadband speeds of up to 1Gb (which is 1,000Mb), way ahead of the big commercial competition such as Virgin Media, SKY and BT.
These advanced networks allow communications to flow thousands of times faster than previously.
FinTech is an area that has really taken off, especially after the banking crisis. According to a study by the Government UK FinTech generated £20bn in revenue in 2014 alone.
Being able to accurately process payments, invest your money directly where you want and even trading in online currencies giving the user more control. All advances provided by a flying FinTech sector, allowing you access with the touch of a button.