Based on the expert analysis and our database of 440+ UK industries, IBISWorld presents a list of the Industries with Least Risky Business Environments in the UK in 2024
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View a list of the Top 25 industries with least risky business environmentsBusiness Environment Risk for 2024: 2.19
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Business Environment Risk for 2024: 3.32
From undertaking businesses online to transferring financial information via online data packets, the Internet of Things has changed how society operates. However, the digital age has also allowed for cyber-attacks and the use malware to gain unauthorised access to computer networks for financial gain or personal data, threatening businesses and public resources. According to specialised global insurer Hiscox, small UK businesses are the target of an estimated 65,000 cyber-attacks every day.
High-profile cyber breaches have accelerated investment in intrusion prevention systems and given rise to innovation-led cyber start-ups that are pioneering a new era of security software. Over the five years... Learn More
Business Environment Risk for 2024: 3.60
Shipbuilding revenue is forecast to expand at a compound annual rate of 1.2% to £6.6 billion over the five years through 2023-24, including a projected growth of 1.3% in 2023-24. Shipbuilders produce military vessels for the Royal Navy and foreign governments, providing a steady revenue stream. Import competition in the passenger ship segment is intensifying due to lower production costs in Europe and Asia, leading to the demise of this segment. Despite this, exports account for a large share of revenue thanks to warships built for foreign militaries.
Contracts to build the Type 26 and Type 31e General Purpose Frigates awarded... Learn More
Business Environment Risk for 2024: 3.68
The Payment Service Providers industry's revenue is expected to expand at a compound annual rate of 2.8% over the five years through 2023-24. The rise of e-commerce has driven revenue growth, as payment service providers don't have to compete with cash or invest in physical point-of-service systems. The pandemic accelerated the growing adoption of online shopping. While physical retail has recovered some market share, it remains below pre-pandemic levels. The proportion of payments made by card in the UK has steadily grown, with card payments becoming the dominant form of payment in the UK in 2017, supporting payment service providers'... Learn More
Business Environment Risk for 2024: 3.69
The Payment Systems industry's revenue is slated to climb at a compound annual rate of 7.6% over the five years through 2023-24 to reach £8.9 billion. The increased use of card payments has been the driving force behind this growth – according to UK Finance, the volume of card payments made in the UK eclipsed those made with cash in 2017 and it's continued to swell since then. The rollout of contactless payments has given a big boost to credit and debit cards. Payment system providers have also been supported by the growing popularity of online shopping, with the rise... Learn More
Business Environment Risk for 2024: 3.75
Reinsurers' revenue is expected to have crept upwards at a compound annual rate of 2.4% to £20.2 billion over the past five years; this includes a forecast rise of 3.8% in 2022-23 when the average profit margin will likely reach 3.9%. Following two years of COVID-19-related payouts, life and health claims are normalising.
For the fifth time since 2017, natural catastrophe losses exceeded $100 billion (£81 billion) in 2022, according to Reinsurance broker Gallagher Re. The frequency and severity of natural catastrophes intensify with climate change, and spiralling inflation only adds to the cost of payouts, depleting reserves and pushing up... Learn More
Business Environment Risk for 2024: 3.77
Actuarial consulting firms provide various services to businesses, including pension, insurance, enterprise risk, financial advice and organisational design consulting. Actuarial consulting services are sought after by businesses across all sectors of the economy, providing firms with a steady demand and limiting revenue volatility. Revenue in the Actuarial Consulting Services is expected to swell at a compound annual rate of 4.1% over the five years through 2023-24, including a 3.3% rise in 2023-24 to reach £4.5 billion.
Continued pension enrolment through the Automatic Enrolment Scheme and other regulatory pension reforms have benefited demand for actuarial services. However, this has been somewhat dampened... Learn More
Business Environment Risk for 2024: 3.79
The rising adoption of 3D printing from the automotive aftermarket, aircraft manufacturers and a wide range of sectors is boosting performance. 3D printing and rapid prototyping enhance the product development process while producing highly complex parts at a lower cost. Many start-ups and consumers are using 3D printing to develop prototypes and different product versions.
Revenue is forecast to rise at a compound annual rate of 9.2% over the five years through 2023-24 to £653 million, including forecast growth of 14.4% in 2023-24. Travel and supply chain disruption following the COVID-19 outbreak slumped automotive and aircraft component production using 3D printing... Learn More
Business Environment Risk for 2024: 3.82
The industry is an outsourced claim adjusting and processing service for insurers. It provides services to policyholders through independent third-party validation or the contesting of evaluations made by assessors employed by the insurers underwriting the policy. Demand for risk and damage evaluation closely follows trends in the level of outsourcing insurers choose to undertake, insurance coverage and the frequency of insured risks. These have all performed strongly in recent years in line with the general insurance industry. So, revenue is projected to swell at a compound annual rate of 2.9% over the five years through 2022-23 to £2.1 billion.
Although insurers... Learn More
Business Environment Risk for 2024: 3.84
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
Based on the expert analysis and our database of 440+ UK industries, IBISWorld presents a list of the Most Profitable Industries in the UK in 2024
VIEW ARTICLEBased 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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