Industries with the Highest Growth in Employment in the UK in 2024

1. Waste Management Services in the UK

Employment Growth for 2024: 43.9%

The Waste Management Services industry plays a vital role in ensuring that residential and commercial development sites meet regulatory standards regarding contamination. Waste companies provide a range of services, including the remediation and decontamination of soil, groundwater and surface water, the cleaning of pollution such as oil spills and the safe treatment of toxic materials. Interest in site preparation, the level of public concern over environmental issues, weather conditions and the level of government expenditure all play a vital role in driving waste management companies' performance. Revenue is anticipated to expand at a compound annual rate of 0.6% over the... Learn More

2. Lithium Battery Manufacturing in the UK

Employment Growth for 2024: 40.5%

Lithium battery manufacturing is ramping up in the UK following substantial support from government-backed R&D investment. Manufacturers are increasingly focused on producing high-quality, low-volume batteries – often to spec – for the defence, medical and automotive industries. Business confidence is a key driver of investment in lithium battery manufacturing, which is driven by the state of the economy. Exports are a key source of revenue; the sustained weakness of the pound has made UK-manufactured batteries more competitively priced, helping to raise export levels. Over the five years through 2023-24, lithium battery manufacturers' revenue is forecast to grow at a compound... Learn More

3. Building Societies in the UK

Employment Growth for 2024: 33.1%

Building society revenue is anticipated to increase at a compound annual rate of 9% over the five years through 2023-24 to £26 billion. Low interest rates prior to the COVID-19 outbreak aided demand, as residential mortgage repayments became more affordable and the number of mortgage approvals picked up. Building societies have also benefited from an influx of re-mortgaging activity, as homeowners have sought to lock in lower rates before expected interest rate rises. However, societies faced challenging operating conditions, including intense competition from other financial institutions like retail banks, and a tightening regulatory environment.

The COVID-19 outbreak hurt revenue in 2020-21... Learn More

4. Language Learning Software Developers in the UK

Employment Growth for 2024: 23.1%

The language learning software industry has boomed, with revenue estimated to hike at a compound annual rate of 17% over the five years through 2023-24. Its successful performance is partially due to the infancy of the industry, with the majority of language learning platforms being less than 10 years old. Language learning apps surged in popularity among consumers, providing a cheaper alternative to traditional face-to-face courses while offering greater flexibility to users with regard to the time they are willing or able to dedicate to language learning. The number of start-up developers has increased markedly, with many companies having attracted... Learn More

5. Chemical & Fertiliser Mineral Mining in the UK

Employment Growth for 2024: 19.8%

The Chemical and Fertiliser Mineral Mining industry's revenue has expanded at a compound annual rate of 1.1% over the past five years. The industry's production has shifted considerably as the largest mineral extractor, Cleveland Potash, changed its mine's production from muriate of potash to sulphate of potash (polyhalite) in 2018, causing revenue to fall as the company had to ramp up production. The two other major companies in the industry, Schlumberger Oilfield and Fluorsid British Fluorspar have also shifted production, with Schlumberger opening a new mine and Fluorsid moving mining operations from the western to the eastern portion of its... Learn More

6. Confectionery Wholesaling in the UK

Employment Growth for 2024: 18.0%

The Confectionery Wholesaling industry has endured a challenging operating environment. Concerns over the health problems attributed to the consumption of confectionery, like obesity, have deterred demand for several products high in sugar and fat. Many small wholesalers are operating in the industry alongside major confectionery producers' wholesale and distribution divisions, including Mondelez, Mars Wrigley Confectionery and Nestle. Revenue is expected to contract at a compound annual rate of 3.4% to £8.6 billion over the five years through 2023-24, including an anticipated 2.4% drop in 2023-24.

Wholesalers have invested in developing their product mixes to reduce sugar content, spurred by shifting consumer... Learn More

7. Electricity & Telecommunications Infrastructure Construction in the UK

Employment Growth for 2024: 17.6%

The industry relies on public sector investment towards maintaining and expanding electricity and telecommunications infrastructure. The essential nature of this infrastructure ensures a consistent stream of work repair and maintenance work. At the same time, the government has pumped significant funds into the energy value chain in pursuit of decarbonisation objectives, boosting opportunities in the renewable energy generation market. Over the five years through 2023-24, the electricity and telecommunication infrastructure construction industry is expected to climb at a compound annual rate of 1.9% to £7.3 billion.

Contractors have capitalised on significant expansion of the UK's renewable generating capacity in recent years,... Learn More

8. Financial Technology in the UK

Employment Growth for 2024: 17.5%

The UK Financial Technology (FinTech) industry highly fragmented and is expanding rapidly. Over the past five years, areas such as peer-to-peer lending, money transfer and digital banks have performed well. Industry revenue is expected to grow at a compound annual rate of 6.7% over the five years through 2022-23 to reach £12.8 billion. The industry relies heavily on third-party financing. Despite volatile economic conditions over the past five years, both private and public funding have been strong.

Government initiatives have identified the FinTech industry as an important area of future economic growth; in response, the government has put considerable effort into... Learn More

9. Taxi Operation in the UK

Employment Growth for 2024: 17.4%

Over the five years through 2023-24, revenue is projected to contract at a compound annual rate of 4.9%. Taxi operations have faced challenging operating conditions due to increased competition and volatile demand. The COVID-19 outbreak took a huge hit on the industry's performance, with revenue collapsing by more than half in 2020-21. The industry has struggled to fully recover from the COVID-19 outbreak, as ridesharing erodes much of the industry's customer base.

Taxi operations have struggled to maintain steady demand due to increased internal and external competition. Technological advances have reduced the barriers to entering the industry because drivers require less... Learn More

10. Fraud Detection Software Developers in the UK

Employment Growth for 2024: 16.3%

The number of activities conducted on the web, including online commerce and online banking, has surged, triggering an explosion of data tools and software, including software designed to ensure that sensitive personal information and payment card information is kept safe. As organised crime schemes have become increasingly sophisticated, fraud detection software has followed suit. The growth in artificial intelligence has shifted industry interest from rule-based systems to systems powered by machine learning software.

The industry has boomed over the past decade, with revenue estimated to surge at a compound annual rate of 17.5% over the five years through 2023-24 to reach... Learn More