*UKHotViewsExtra* Safety Tech one of UK’s fastest growing sectors

According to a new governmental report the UK Safety Tech sector is poised to be one of the fastest growing areas of UK technology innovation, growing 21% over the last year and on course to hit £1bn by mid-2020’s.

The safety tech sector includes firms specialising in digital identity, which can be used for age verification to prevent children from being exposed to inappropriate content, as well as identity verification used as an anti-money laundering measure.

More than 115 companies across the UK are innovating in digital safety, a 17% yoy increase. Such companies continue to make world-leading advances in areas such as content moderation, age verification, digital forensics, content filtering, and in detecting and countering fraud. Safety tech companies are estimated to employ more than 2,850 staff across the UK with continued growth across multiple regions.

There has also been strong increased interest in safety tech by the investment community, with a record £63m raised in 2021 across 16 deals such as SafeToNet which raised £15m and Vault platform which raised £6m.

With the rise in fake news, increasing online transactions, workplace harassment and the ease by which young people in particular can now get online, the need for better identity and digital safety solutions is paramount.

You can read more details on this topic in our HVExtra article here which is available to TechMarketView subscription service clients and UKHotViews Premium subscribers.

Posted by: Simon Baxter at 09:53

Tags: verification   digitalidentity  

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