Based on the expert analysis and our database of 440+ UK industries, IBISWorld presents a list of the Fastest Growing Industries in the UK by Revenue Growth (%) in 2024
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View a list of the Top 25 fastest growing industries2024-2025 Revenue Growth: 40.5%
Per-capita alcohol consumption, income, price, health consciousness and consumer preferences drive non-alcoholic beer producers' performance. Over the five years through 2022-23, revenue is set to grow at a compound annual rate of 30% to £807.6 million, including growth of 34.2% in 2022-23, with the average industry profit margin hitting 19.7%.
Shrinking alcohol consumption per capita alongside growing health consciousness is paving the way for industry growth. Popular craft beer producers are rapidly introducing no-alcohol and sustainable beer varieties, driving growth in the non-alcoholic beer industry. During the COVID-19 pandemic, many consumers stuck at home cut out booze, dabbing into non-alcoholic beer... Learn More
2024-2025 Revenue Growth: 31.5%
Interest in corporate travel deals is sensitive to business confidence. A poor economic situation and multiple shocks like the pandemic and Brexit have contributed to the contracting revenue for agencies. Demand for travel services is also influenced by the cost of travel, which has risen due to the low value of the pound and rising prices. However, the pandemic was the most significant factor contributing to the fall in revenue. Travel restrictions domestically and internationally during the pandemic caused the industry to come to a standstill, which it has struggled to recover from.
Demand from the industry's largest downstream market, the... Learn More
2024-2025 Revenue Growth: 22.4%
The language learning software industry has boomed, with revenue estimated to hike at a compound annual rate of 17% over the five years through 2023-24. Its successful performance is partially due to the infancy of the industry, with the majority of language learning platforms being less than 10 years old. Language learning apps surged in popularity among consumers, providing a cheaper alternative to traditional face-to-face courses while offering greater flexibility to users with regard to the time they are willing or able to dedicate to language learning. The number of start-up developers has increased markedly, with many companies having attracted... Learn More
2024-2025 Revenue Growth: 21.9%
Immersive technologies, or extended reality (XR) – an umbrella term for virtual reality (VR), augmented reality (AR), mixed reality (MR) and haptics – have recorded a boom in popularity over the past decade. In line with greater social acceptance of technology, XR has revolutionised how people interact with data, information and content, becoming a staple in modern business processes and next-generation entertainment. Recognising that XR could become the ‘new norm', the government, research agencies and private equity stakeholders have supported developments through investment funding and business incubation.
Revenue is forecast to increase at a compound annual rate of 18.1% to reach... Learn More
2024-2025 Revenue Growth: 20.3%
The number of activities conducted on the web, including online commerce and online banking, has surged, triggering an explosion of data tools and software, including software designed to ensure that sensitive personal information and payment card information is kept safe. As organised crime schemes have become increasingly sophisticated, fraud detection software has followed suit. The growth in artificial intelligence has shifted industry interest from rule-based systems to systems powered by machine learning software.
The industry has boomed over the past decade, with revenue estimated to surge at a compound annual rate of 17.5% over the five years through 2023-24 to reach... Learn More
2024-2025 Revenue Growth: 20.1%
Social media platforms are an integral part of people lives, offering ways to communicate, create and view content and share information. According to Ofcom, approximately 60% of adults in the UK use social media, messaging, video sharing and live-streaming services provided by online communication platforms. People aged between 16 and 34 and the biggest social media users, although there is rapid uptake among older age groups as the ease of use improves. Advertising is the primary revenue source for social media platforms, although subscription-based services are gaining momentum as platforms seek to diversify their incomes. TikTok is the success story... Learn More
2024-2025 Revenue Growth: 18.9%
Over the five years through 2023-24, scheduled passenger air transport revenue is anticipated to contract at a compound annual rate of 3.6% to £24.1 billion. The COVID-19 outbreak has had a devastating effect on airlines. Strict public health restrictions significantly cut demand for air travel during the first quarter of 2020-21. Despite showing signs of recovery during the second quarter of 2020-21 with the easing of travel restrictions, the re-implementation of domestic and international restrictions spurred a renewed slump in passenger numbers in the latter half of 2020-21.
Although passenger numbers remain fairly robust during weak economic conditions, changes in consumers'... Learn More
2024-2025 Revenue Growth: 17.8%
The economic climate in the UK has a significant effect on tour bookings, as spending on travel and tourism is considered to be a luxury and, therefore, consumers cut back on this type of spending when finances are constrained. Over the five years through 2022-23, tour operator revenue is expected to contract at a compound annual rate of 3.4% to £10.3 billion. This is mainly because revenue plummeted during 2020-21, owing to COVID-19 disruptions; most consumers were unable to travel abroad or domestically during the majority of the year. However, as restrictions have eased during 2022-23, holiday numbers have increased... Learn More
2024-2025 Revenue Growth: 17.8%
Over the five years through 2023-24, airports' revenue is slated to contract at a compound annual rate of 2.9% to £10.2 billion. Trends in domestic and international air travel have a huge influence on airports' performance, as they provide support activities to both passengers and transport companies. The main thing shaping the industry in recent years is the COVID-19 pandemic, which temporarily decimated air travel; airports are yet to fully recover from the COVID-19 hit.
Airports have increasingly diversified their sources of revenue, expanding into other commercial markets, including retail concessions, other property and car parking facilities. The Civil Aviation Authority... Learn More
2024-2025 Revenue Growth: 17.1%
Building society revenue is anticipated to increase at a compound annual rate of 9% over the five years through 2023-24 to £26 billion. Low interest rates prior to the COVID-19 outbreak aided demand, as residential mortgage repayments became more affordable and the number of mortgage approvals picked up. Building societies have also benefited from an influx of re-mortgaging activity, as homeowners have sought to lock in lower rates before expected interest rate rises. However, societies faced challenging operating conditions, including intense competition from other financial institutions like retail banks, and a tightening regulatory environment.
The COVID-19 outbreak hurt revenue in 2020-21... Learn More
Based on the expert analysis and our database of 440+ UK industries, IBISWorld presents a list of the Biggest Industries by Revenue in the UK in 2024
VIEW ARTICLEBased on the expert analysis and our database of 440+ UK industries, IBISWorld presents a list of the Industries with Largest Number of Bussinesses in the UK in 2024
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