Legal Activities in the UK - Industry Market Research Report

Legal Activities in the UK - Industry Market Research Report

Legal Activities in the UK

Over the five years through 2023-24, revenue is projected to contract at a compound annual rate of 0.1%. Widespread business uncertainty during the COVID-19 outbreak and ongoing inflationary pressures has limited industry growth. However, the industry is countercyclical, meaning that demand for legal work in certain areas, including litigation and insolvency matters, grows in times of economic downturn. This is expected to mitigate steeper declines. The largest firms have responded to the challenges posed by weaker business activity in the UK by expanding internationally, engaging in M&A initiatives and broadening their services to compete with accounting firms.

This industry includes firms that provide legal services, including solicitors, barristers, patent agents, notaries and bailiffs. Lawyers provide advocacy and advice on a range of topics, such as commercial, property, private, criminal and family law. Law courts are not covered in the industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.