UK Future of Technology Market Report 2024

This report examines the UK consumers relationship with technology, covering consumer attitudes, demands and behaviours, and how future technology market trends will impact consumers’ lifestyles. The report also provides an analysis market dynamics, including macro-economic, social and environmental factors impacting the future of tech in the UK.

Key Issues Analysed in this Report:

UK Consumers and Technology

Consumer confidence continues to be fragile, but it has been trending upwards since late 2022. While some tech products such as smartphones have become near essentials, the adoption of new technologies with high early price points will require strong financial confidence. Longer term, the deflationary nature of technology will feed into higher uptake of more powerful devices opening up possibilities for the category further in the next decade.

Future of Tech – Innovations and Market Trends

The rapid pace of technological evolution can cause consumers to be sceptical or resistant to change. Whilst younger consumers are typically more open to the adoption of new technology, there is concern over the efficacy of new tech and the increasing prominence of AI amongst the general population. This will mean brands using AI will have to prove that the technology can work in the interests of consumers.

Despite this concern, there will be strong long term opportunities for brands to help offer consumers practical and personalised assistance, with AI becoming more contextualised and personal. On device AI will be able to play a role in delivering greater utility in consumers lives’, from managing schedules, productivity and eventually as a useful intelligent assistant.

Purchase the full UK Future of Technology Market Report for further analysis and consumer insights. Readers of this report may also be interested in Mintel’s UK Digital Lives of Consumers Market Report. 

Technology Market Definitions

For the purposes of this report, Mintel has used the following definitions:

Extended Reality (XR): Extended Reality refers to virtual, augmented and mixed reality technologies.

The metaverse: The definition of a metaverse is difficult to pin down and is hotly debated. It is typically regarded as a ‘persistent virtual world’. The ‘persistent’ part is important because it means a virtual space that can be accessed at any time by different people, and one that doesn’t disappear when you stop accessing it as is the case with traditional video games, for example. Metaverses can be accessed via virtual reality, augmented reality and devices such as smartphones and tablets. The ‘metaverse’ is not a single thing; rather, a number of different metaverses exist simultaneously.

Meet The Expert

This report is written by Mintel’s Senior Technology and Leisure Analyst, Joe Birch. Joe has over a decade’s experience in the market research industry as a research analyst and report writer. He joined Mintel in 2019 after a number of years as a research manager at a boutique consultancy, servicing B2B, Financial services and public sector clients.

AI will bring a new era of smart assistants, while driving innovation in markets including gaming, payments, virtual reality, spatial computing and even neurotech.

Joe Birch
Senior Technology and Leisure Analyst