The UK tech sector enjoyed a quarter of robust growth from April to June 2014 with the expansion of business activity rising at its fastest pace since the onset of the financial crisis in 2007, says the latest KPMG/Markit Tech Monitor.
The UK survey also indicates that improving economic conditions have ushered in a sustained period of strong top line growth for tech companies, which in turn boosted investment spending plans across the sector.
Almost two thirds (61%) report a solid upturn in year-ahead expectations for business activity and more than 4 in 10 (43%) also declare an intention to hire more staff.
It is also clear from the study that capital expenditure plans within the tech sector are at their most upbeat since data was first collated in 2009. Today, 43% anticipate an increase - compared to the previous high of 37.5%.
Commenting on the latest Tech Monitor UK results, Tudor Aw, Head of Technology at KPMG, said: "The UK tech sector is firing on all cylinders with sustained growth outstripping the wider economy. Importantly, this good news story looks like it will continue in the year ahead with many tech companies planning to loosen the purse strings to hire staff and raise capital expenditure.
"For the first time since 2007, there is also a welcome upturn in Tech IPOs which hopefully signals the beginning of a comeback of Tech companies to the London Stock Exchange, something that will be important in convincing tech start-ups that the UK is the right place to be."