Business Insider article 3 / 12 5 British tech companies are set to become the world’s biggest tech companies after the UK voted to leave the EU, according to a report by the Financial Times.
The FT said that tech giants such as Facebook and Google were “expected to leapfrog Apple, Microsoft and Amazon as the world leaders in the industry” and that it expects the UK’s largest companies to grow by at least 1.2% over the next 12 months.
“While the big tech giants are already expected to outperform their peers, it is the UK companies that are most likely to make an impact,” said the FT.
“The British tech sector is expected to be the fastest-growing in the world, by an average of 3.5% per year over the same period.”
The big UK tech companies such as Amazon and Google are expected to leapfrogged Apple, Facebook and Microsoft as the World’s Largest Tech Companies.
“Its technology exports are valued at around $8.8 billion, with $6.6 billion of that going to the US, $4.7 billion to Europe and $2.6bn to Asia.” “
The UK has a big and growing tech sector, with a record 1.7 million people employed in the tech sector as of last year, and an estimated 3.1 million in the IT sector,” it said.
“Its technology exports are valued at around $8.8 billion, with $6.6 billion of that going to the US, $4.7 billion to Europe and $2.6bn to Asia.”
According to the FT, the UK has been a key driver of Brexit in the EU and will be a key battleground for Brexit negotiations in the coming weeks.