Incap UK’s MD, Jamie Maughan, states that with targeted strategies and a promising outlook, Incap UK will be making significant contributions to industry and the economy.
As we approach 2025, the UK electronics market presents a vibrant landscape of opportunity driven by robust growth across various sectors. With the industry’s market value approaching £78 billion and providing pivotal employment for over 250,000 individuals, its impact on the UK economy is substantial and expanding. This growth is fuelled by an escalating demand for sophisticated electronic devices in areas such as automotive, healthcare and telecommunications.
The automotive sector is transitioning towards electric and autonomous vehicles, requiring advanced electronics systems. The UK electronics industry, with its expertise in areas such as sensors, processors and communications technologies, is well- positioned to drive the sector’s growth.
Similarly, the healthcare sector is experiencing a surge in demand for electronics, propelled by advances in medical technology that necessitate innovative components for diagnosis, monitoring and treatment. With a strong foundation in medical imaging, patient monitoring, and electronic health records, the UK electronics industry is equipped to offer innovative solutions that significantly enhance patient care.
However, the industry is bracing for financial strains as the minimum wage is set to increase, along with employer NI contributions, potentially escalating operational costs. Despite these challenges, persistent demand encourages ongoing investment in infrastructure improvements and innovation, which are essential for sustaining growth and competitiveness.
Looking ahead, we are focused on leveraging our expertise and strategic initiatives to do more than compete; we aim to actively shape the future of the UK’s electronics landscape.