Between 2010 and 2020, the UK tech industry has grown tenfold and there are no signs of it slowing down. With almost 100 ‘unicorns’ (private companies in the field valued at over $1 billion) around the world, it’s clear that tech is one of the best industries into which you can invest your money.
It seems that not a day goes by without us hearing about the latest innovation that promises a positive impact on human life – so it’s easy to see why the tech industry is booming. But the industry is a vast one and it can be difficult to identify where to begin when it comes to investment, so we’re here to pick out some key sectors that are worthy of consideration.
Investment always carries some risk but, as long as you exercise careful judgment of your finances, the tech industry offers a variety of exciting opportunities. Here are some of the safest bets.
The cybersecurity industry is estimated to reach a value of $73.5 billion by the end of 2021, an incredible 11% rise from 2020 which shows the immense growth that this industry is going through. With all of us more dependent upon our devices than ever, there’s no risk of its importance diminishing any time soon.
As evidenced by the recent COP-26 summit, there has been a clear shift towards prioritising sustainability – and electric vehicle production is one of the main ways in which the UK is playing its part. With a ban on producing new petrol and diesel cars from 2030 on the way, electric vehicle sales are expected to reach 35 million by 2030.
The worldwide electric vehicle industry is projected to reach a market value of $2495.4 billion by 2027, so you can be confident of its suitability for investment.
Biotech is an industry that has continued to thrive and grow despite the adversities faced throughout the Covid-19 pandemic. With share prices increasing in China, Europe, the US and S&P 500, biotech’s popularity shows no signs of dropping off, making it an enticing opportunity for your money.
By 2050, around 50% of the world’s energy production is expected to be renewable – and the urgency of climate change as an issue should give you confidence enough in your investments here. With a projected market value of $1.1 trillion by 2027, the renewable energy industry is sure to go from strength to strength so, whether you are interested in investing in solar, wind or hydropower, you can rest easy knowing that your investment should be safe going forward.
As you can see, the tech industry is on the rise and has been for some time now which makes it an extremely viable option for your future investments. As ever, when you are investing your money, we encourage you to carry out extensive research in order to understand the specific companies into which you are putting your hard-earned capital.