Technology and Telecommunications
Having reached relative highs in 2011, the telecommunications sector has since suffered a considerable period of decline. Though a slight recovery followed in the mid-2010s, the sector remains well away from its peak turnover witnessed nine years ago.
Performance amongst the rest of the technology sector has been strong, being characterised by creative destruction, wherein new developments render previous innovations obsolete. This process shows no sign of halting and will continue to drive the impressive sectoral growth that has characterised much of the last few decades.
The technology sector is set to take on even greater prominence in light of the Covid-19 pandemic, being a key driver of the economic recovery. The pandemic has accelerated pre-existing trends in terms of the role played by technology, from the perspective of both work and leisure. This provides a considerable opportunity for businesses in the sector.