Sunday, July 14, 2024

DEVELOPMENT OF THE IT INDUSTRY IN LIVERPOOL

Merseyside is considered one of the most developed and technological regions of Great Britain. The local technological community is growing, showing results and opening up great opportunities for IT businesses. Although Liverpool has built a reputation as a city of innovative ideas and talented developers, driving revolutionary technological breakthroughs, there is still room for growth in the industry. Learn more about its features and prospects at liverpool-future.com.

Features of the IT industry in Liverpool

The positive assessment of the city’s IT industry can be confirmed by the following aspects:

  • Liverpool has an outstanding creative digital community with strong expertise in gaming technology as well as film and TV production. In addition, local specialists are engaged in immersive technologies (technological means that provide the user with immersion in virtual reality or make you feel as if you are in the virtual world).
  • The city’s companies have become part of a dynamic technology ecosystem. They skilfully use AI and create interesting content.
  • Liverpool’s digital sector is constantly growing. According to data published at investliverpool.com, the creative and digital technology ecosystem has doubled here since 2012. Overall, 9% of Liverpool businesses belong to the creative and digital sector.

Progress or regression?

Another site claims that the local technology ecosystem isn’t at a very high level, that is, at a low or medium one. Analysts admit that equity capital raising is breaking all records within Liverpool. However, it is low if compared to the neighbouring big cities to the north, Leeds and Manchester.

Still, it makes sense to focus on the fact that everything is changing for the better. This is facilitated, in particular, by accelerators and investment funds that support start-ups and innovative projects. These initiatives are launched by both private companies and government institutions. They contribute to the development and activation of the industry, creating favourable conditions for technological growth and innovation.

Thus, Liverpool isn’t standing still, having room for improvements in its IT field. The situation for IT is not exactly ideal, given that the city’s economy used to be focused mostly on professional services, real estate, tourism and hotel business. However, digital and creative industries are gradually catching up. Liverpool’s progress in the sphere was 77% over 10 years, while in the country in general – 44%. As we can see, the local technological sector can’t be called the leading one, but it is quite promising.

Problems and prospects of the IT sector in Liverpool

As uktechnews.co.uk notes, many representatives of the IT industry in Liverpool attract their own funds to the business and call the access to financing one of the biggest problems. The second serious problem is the slow introduction of technologies.

In terms of the number of IT vacancies in 2022, Liverpool was ranked 12th among other cities, excluding London. Frankly speaking, it isn’t impressive. However, there is a rapid increase in the number of jobs in the industry. The situation is getting better with every year.

As for the outlook, Helen Cross, Digital and Creative Sector Lead at Growth Platform – Liverpool City Region Growth Company, said that the Liverpool-centred region stands to reap dividends thanks to its ever-evolving technology community. In addition to investments, IT activists are pleased with comprehensive support from such programmes as Growth Platform’s High Growth Programme and Peer Networks. They allow companies to work together and build their networks.

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