May 3, 2012

Despite Recession Bbite Sees Opportunities for Growth in the UK’s Technology Markets (1 of 4)

The UK is officially in another recession with the dreaded ‘double-dip’ and with the economy bumping along the bottom, inevitably there is pessimism in the air.

However, at times like this, it is important to take a step back and focus on the areas in which we excel. For the UK it is innovation and in particular innovation around high-tech. The UK thrives on its culture of innovation and on the practical creativity of its graduates and engineers.

So, looking at where the UK is particularly adept at innovation, points us to markets of opportunity for growth. Global opportunities which demand high skills and technical capabilities are present within the UK’s current economy.

This is Part 1 in a series of 4 outlining those markets of opportunity.

Part 1
Over the last decade, UK private sector productivity growth has been hugely dependent on innovation. The competitive advantage of UK plc depends on effectively managing and commercialising the knowledge we have. It is also vital that the UK plays into global opportunities.

Six sectors stand out as the markets of opportunities through 2012 and further ahead:

1. Aerospace Defence
2. Transport
3. Energy
4. ICT - Information & Communications Technologies
5. High Value Manufacturing
All underpinned by the UK’s ability to bring innovation to market through
6. Development - Continuously improving our capability

What is needed now is the faster acceleration from innovative concept through commercialisation. In other words, better time-to-market.

UK businesses already invest heavily in innovation but with the economy struggling there are worries about return on investment from new technologies in small and early stage companies. Some are struggling to find finance or partners. Also, innovative projects can upset supply chains, delaying businesses reacting to opportunities.

However, areas of growth are available to be exploited in markets and micromarkets in the UK. This is demonstrated by the UK Government setting up a new network of technology and innovation centres to help to harness the country’s technical strengths and make the UK a global leader in some of the key areas of future growth, benefitting the economy and everyone working in those fields.

For this country to reach its innovation potential the UK must excel as a global leader in economic growth based on innovation.

Parts 2 to 4 will look in more detail at each of these markets of opportunity. Meanwhile, get your copy of the World Electronic Industries Report & Forecast 2010-2015 by clicking on the banner below:

Bbite provides Market Research and Business Coaching

The views expressed in this presentation are those interpreted by Bbite drawn from public declarations accessed during research. Bbite reserves the right to reuse this material.

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