Over the last three decades, the Welsh technology sector has established an impressive track record for innovation. Its 30,000-strong skilled workforce accounts for some 5.5% of Gross Value Added to the Welsh economy. The industry's combined turnover now exceeds £3.2 billion, with a healthy mix of well-established businesses and young, fast-growing enterprises.
The industry's balance has shifted markedly in recently years from high volume manufacturing, to lower-volume, higher-value, niche production. Wales is now home to a stable base of smaller more specialist companies. These enterprises tend to locate their HQ, research and development or a substantial part of their operation here. It is estimated that the technology industry in Wales consists of around 300 medium to large-sized companies and up to 3,000 small, niche-market companies.
The overall technology sector in Wales breaks down into four key sub-sectors. These are:
Whilst smaller, niche companies are establishing themselves throughout Wales, the technology and telecommunications sector remains pre-dominantly along the M4 corridor and south east/valleys area. Global companies locating HQ's in this area prefer the fast access to the major legal and financial markets in London, as well as access to a highly-skilled and technical workforce.
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