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FASTEST GROWING BUSINESSES IN THE
UK
Rental and leasing business Architectural and engineering business Publishing business Manufacture of beverages and food Internet advertising Entertainment and media sector Software development industry
Rental and leasing business
The car rental and leasing industry has accelerated in recent years, as a result of several factors. Since 2013-14 improving economic conditions have prompted rising demand from businesses for vehicle leasing and from tourists for car rentals. This has driven strong revenue growth, although the industry did struggle in 2012-13 due to the faltering economy. Revenue is estimated to grow at a relatively low rate of 3.6% in 2016-17, as stagnant global economic conditions and economic uncertainty stemming from the EU referendum are anticipated to weaken consumer and business confidence.
Industry revenue is estimated to rise at a compound annual rate of 3.4% over the five years through 2016-17 to reach £13.8 billion.
Industry to increase at a compound annual rate of 5.6% through 2019-2020Throughout the UK 3000+ businesses are involved in the car rental and lease business.
The UK rental car market is going through a quiet revolution. With new innovations diversifying the marketplace and gaining increasing popularity, the UK continues to enjoy slow and steady growth in this sector.
Architectural and engineering business
Industry revenue is projected to increase at a compound annual rate of 4.6% over the five years through 2016-17 to £6.5 billion.
According to Engineering UK 2016, engineering accounts for around a quarter of UK turnover, with around 5.4 million people employed within the sector. An additional 257,000 new recruits are required by 2022 to meet skills needs, and this has the potential to generate an additional £27billion per year for the economy.
UK construction growth is set to be fourth highest in Europe up to 2017, with British builders outstripping those in Germany, France and Spain.
Publishing businessThe United Kingdom is home to some of the oldest and most esteemed book publishers in the world.
The United Kingdom is the largest exporter of books in the world.UK publishing industry is in good health with total sales / book and journal publishing up to £4.4bn in 2015.
Total consumer revenue booking in the UK stood at £2bn in 2015 and will rise to £2.4bn in 2020, increasing at a 3.4% CAGR. This will be entirely driven by growth in e-books revenue, with print revenue continuing to fall, albeit at lower rates than previously anticipated.
Entertainment and media sectorThe U.K Entertainment and Media (E&M) sector is set to overtake Germany and become the largest in Europe, the Middle-East and Africa (EMEA) according to PwC’s latest Entertainment and Media Outlook.
The United Kingdom’s E&M sector will be worth £62.8bn in 2017, overtaking Germany’s £58.6bn. This growth will continue over the following three years, by reaching a projected £68.2bn, in comparison to Germany’s £61.3bn by 2020.
TV advertising revenue in the UK increased from £3.8bn in 2014 to £4.1bn in 2015. Growth will continue at a 4.2% CAGR through to 2020, with total TV advertising revenue reaching £5bn.
Internet AdvertisingBy 2017, more than half of the world's population will be mobile Internet subscribers. Global total Internet advertising revenue is forecast to grow from £101.1bn in 2015 to £171.3bn in 2020, a compound annual growth rate (CAGR) over the period of 11.1%. As the segment captures an ever-larger portion of advertising budgets, it will exceed TV to become the world’s largest single advertising category by 2019.
The U.K. is the largest Internet advertising market in Europe, and will remain so for the next five years, with a forecast overall CAGR of 10.5% between 2015 and 2020, and revenue growing from £8.3bn to £13.7bn in the period.
Manufacture of beverages and food
The food and drink manufacturing and processing industry is set for growth of between 3–4% in the short to medium term, while reaching a value of about of £113.1bn in 2018–19.
Food and drink is the country’s largest manufacturing sector accounting for 16 per cent of total manufacturing turnover and providing employment for more than 400,000 people, according to the Food and Drink Federation (FDF).
The food industry is seen as having huge potential for future growth. The FDF is five years into a plan to grow the manufacturing sector by 20 per cent up to 2020, while analysts at IGD forecast the UK grocery retail market will reach £203 billion by 2019, up more than 16 per cent from 2014.
Software development industryThe software development industry consists of businesses that write, modify and test systems and applications software, databases and web pages.
Online access to news, social media, video and other websites, in addition to automated client-relationship software and advertising software applications, are now an integral part of modern culture. Consistent developments in technology have helped the industry grow solidly over the past five years. Industry revenue is expected to grow at a compound annual rate of 8.9% over the five years through 2016-17.
Software and tech consulting services will have the best growth in 2016, at 1.5% and 1.4%, respectively.
Sourcehttps://www.ibisworld.co.uk/market-research/car-rental-leasing.htmlhttps://www.enterprisenation.com/blog/posts/britain-s-hottest-business-sectors-revealedhttp://www.adtransport.co.uk/transport-articles/a-quick-look-at-the-uk-vehicle-rental-market/http://www.cityinterrent.com/blog/car-rental-leasing-in-the-uk-market-research-report/https://www.ibisworld.co.uk/market-research/architectural-activities.htmlhttps://www.prospects.ac.uk/jobs-and-work-experience/job-sectors/engineering-and-manufacturing/overview-of-the-engineering-and-manufacturing-sector-in-the-ukhttp://pwc.blogs.com/press_room/2016/06/uk-entertainment-and-media-sector-to-be-largest-in-emea-by-2017.htmlhttp://www.foodmanufacture.co.uk/Manufacturing/Food-and-drink-manufacturing-industry-set-for-3-4-growthhttps://www.raconteur.net/business/feeding-the-growth-of-the-food-and-beverage-industryhttps://www.ibisworld.co.uk/market-research/software-development.htmlhttps://www.forrester.com/European+Tech+Market+Will+See+No+Growth+In+2016+As+Brexit+Hits+UK+Spending+Hard/-/E-PRE9304
