According to research by TechMarketView, Amazon Web Services (AWS) has experienced significant growth in the UK software and IT services industry, surpassing Microsoft and securing a spot in the top three. AWS claimed first place with revenues of £3.78 billion, followed by Accenture (£3.623 billion) and Tata Consultancy Services (TCS) (£3.491 billion). Microsoft fell to fourth place with revenues of £3.382 billion.
AWS Dominance in the Cloud Market:
AWS has consistently outperformed Microsoft Azure in the cloud market. Regardless of the market segment or data set analyzed, AWS maintains its lead over Microsoft in terms of popularity and market share.
Other Top Companies:
Rounding out the top ten in the UK software and IT services industry were Capgemini (£2.352 billion), Capita (£2.32 billion), IBM, HCL Tech, Oracle, and Atos.
Potential Slowdown and Productivity Concerns:
TechMarketView suggests that a slowdown in the industry could be on the horizon, possibly lasting until at least 2026. Despite ongoing investments in technology, there are concerns about the overall productivity of companies. Many organizations are failing to provide suitable office software and are even wasting unused licenses, which hinders worker productivity.
Investments for Improved Productivity:
Georgina O’Toole, Chief Analyst at TechMarketView, emphasizes that the right investments in the UK tech industry can help improve productivity not only within organizations but also at a national level. Addressing the ongoing productivity crisis is crucial for maximizing the benefits of technology investments.
AWS’s growth in the UK software and IT services industry has propelled it into the top three, surpassing Microsoft. The dominance of AWS in the cloud market and the need for improved productivity pose challenges and opportunities for the industry. Refining services and investing in appropriate technology can help address productivity concerns and drive overall growth.
