The latest data analysis report released by TechMarketView (TMV), an established analysis organization, pointed out that Amazon Web Services will leap to the top of the UK software and IT services industry in 2022, and Microsoft will fall out of the top three on the list due to its growth lagging behind its competitors.
The UK domestic market grew by 12.2% in 12 months to 67.7 billion pounds ($86.15 billion), the fastest growth rate in more than a decade, the data showed. Among them, AWS's revenue in the UK increased by 30.1% year-on-year to 3.78 billion pounds; followed by Accenture's 30% increase to 3.623 billion pounds. Former market leader TCS was third, up 16.6% to £3.491 billion, while Microsoft came in fourth, reporting a 17.5% increase to £3.382 billion.
In fifth place was Capgemini, up 16.7% to £2.352bn, while Capita (formerly the UK's long-running software and IT services leader) rose just 1.8% to £2.32bn. IBM, HCL Tech, Oracle and Atos round out the top ten.
"They've really distanced themselves in terms of growth and scale," TMV said of AWS . AWS is the clear industry leader in infrastructure services, where it competes fiercely with Microsoft's Azure and is still surpassing it.
TMV expects software and technology services growth to decline by 6.9% year-on-year in 2023 and forecasts a CAGR of 5.8% through 2026. It said the analysis reflected a "continuing productivity crisis" in the UK that would continue to drive client investment in technology locally.