Fastest Growing Industries in the UK by Revenue Growth (%) in 2020

1. Life Insurance in the UK

2019-2020 Revenue Growth: 98.5%

The Life Insurance industry generates revenue from investment returns and premiums. Premium income is expected to increase at a compound annual rate of 5.7% over the five years through 2020-21, supported by the commercial market. Bulk annuities have boomed in popularity, and employers are becoming more focused on providing valuable benefits to employees and considering group products that reduce long-term absence and support staff health and well-being.

Investment income has lulled over the period. Revenue derived from fixed-income assets has struggled against a backdrop of loose monetary policy and low interest rates, while equities have battled against concerns relating to a... Learn More

2. Immersive Technology in the UK

2019-2020 Revenue Growth: 60.5%

Immersive technologies, such as virtual reality (VR), augmented reality (AR), mixed reality (MR) and haptics, integrate visual content with the physical environment, thus ‘immersing’ the user of associated devises, such as head-mounted display (HMD) units, in a simulated setting. Operators in the Immersive Technology industry design and develop immersive visualisation software programs, systems and networks. Operators subsequently sell these solutions and the intellectual property to clients under licence, and may also undertake bespoke projects related to the development of immersive tech and related content on behalf of clients, generating revenue and profit by charging clients a fee. The manufacturing of... Learn More

3. CRM System Providers in the UK

2019-2020 Revenue Growth: 43.1%

The CRM System Providers industry sells software or platforms for customer relationship management (CRM). CRM is a widely implemented strategy for managing a company’s interactions with customers, clients and sales prospects. Industry services have expanded to include the automation of many back-office roles, sales procedures and marketing personalisation. CRM system providers may also offer training to customers on the use of software and consultations to see the best implementation of CRM software.Over the five years through 2019-20, the CRM System Providers industry’s revenue is expected to rise at a compound annual rate of 56.5%. This is primarily due to the meteoric rise of Salesforce, which has grown to dominate... Learn More

4. Language Learning Software Developers in the UK

2019-2020 Revenue Growth: 41.3%

Industry operators create language-learning software, which includes features such as language-learning games, speech-recognition technology, online practice sessions with native speakers and language exchange platforms. Over the past five years, the industry has expanded substantially, with revenue estimated to grow at a compound annual rate of 26.4%. This impressive result is in part explained by the fact that the industry is relatively young, as the majority of its companies have been operating for less than 10 years. Language learning applications have grown massively in popularity among consumers, providing a cheaper alternative to traditional face-to-face courses, while allowing greater flexibility to users... Learn More

5. Healthcare Construction in the UK

2019-2020 Revenue Growth: 26.3%

Operators in the Healthcare Construction industry are contracted to construct, repair, maintain and alter health and social care buildings and facilities on behalf of both private- and public-sector entities. While private finance plays an important role in the funding of healthcare real estate and infrastructure development, whether to fund projects in the private healthcare market or to bankroll private finance initiatives (PFIs) and other public ventures, the capital departmental expenditure limit (DEL) of the Department of Health and Social Care (DHSC) underpins healthcare construction procurement in the National Health Service (NHS) and among NHS trusts. Healthcare estate provides the foundations for the... Learn More

6. Online Food Ordering & Delivery Platforms in the UK

2019-2020 Revenue Growth: 26.2%

Industry players can be split into two categories: aggregators and new delivery platforms. Aggregators offer access to a range of food outlets through a single online portal, and generate revenue through a restaurant sign-up fee and commission on an order. Traditionally, aggregators do not operate a delivery fleet, with the food outlet instead handling delivery. On the other hand, new delivery platforms such as Deliveroo and Uber Eats offer delivery logistics. For new delivery operators, revenue is usually composed of restaurant sign-up fees, commission on orders, as well as delivery and service fees, paid by the consumer.

Over the five years... Learn More

7. Peer-to-Peer Lending Platforms in the UK

2019-2020 Revenue Growth: 22.0%

The rapid growth of the Peer-to-Peer Lending Platforms industry has begun to slow as the industry matures and the initial wave of firms entering the industry stabilises. Nevertheless, over the five years through 2019-20, industry revenue is expected to grow at a compound annual rate of 43.1%. Three firms have emerged as dominant players in the industry and together account for the overwhelming majority of revenue. The most major development in the industry has been the introduction of regulation which has changed the operating procedures of firms. During the base year of the past five year-period, 2014-15, it became mandatory for the... Learn More

8. Online Book Retailers in the UK

2019-2020 Revenue Growth: 21.6%

Companies in the Online Book Retailers industry have recorded a strong performance over the past five years, despite a potentially challenging retail landscape. Rising internet access has supported a notable shift in consumer spending habits towards online retail over the period. This trend has been particularly prevalent for book retailers, with online retailers able to utilise vast supply networks to stock a wider range of titles than their bricks-and-mortar counterparts, while the absence of substantial fixed costs has enabled industry operators to offer more competitive prices than traditional retailers.

Industry revenue is expected to increase at a compound annual rate of... Learn More

9. App Development in the UK

2019-2020 Revenue Growth: 19.4%

The App Development industry comprises companies that write, design and test mobile application software. Since the release of the first iPhone in 2008, and with it the launch of Apple’s App Store, the App Development industry has gone from practically non-existent to an established segment of software development. The rapid penetration of smartphones equipped with internet connectivity and powerful processors has facilitated significant industry expansion. In the space of a decade, apps have integrated themselves into a variety of functions, becoming an indispensable feature of modern life. Industry revenue is expected to grow at a compound annual rate of 23.8% over... Learn More

10. Non-Dairy Milk Production in the UK

2019-2020 Revenue Growth: 19.2%

Operators in this industry produce dairy milk substitute beverages. These products are usually plant-based and may be made from soybeans, coconut, almonds, oats or rice. The manufacture of non-dairy food products, such as vegan cheese or yoghurt, are not included in the industry.Over the five years through 2019-20, IBISWorld expects industry revenue to increase at compound annual rate of 17% as consumers have increasingly diversified their diets swapping animal- based products with plant-based alternatives. The trend has largely been supported by rising health consciousness and concerns over environmental and animal welfare issues. Shifting demographic and migration trends have also been integral to driving demand due to the rising... Learn More