Legal Services in the United Kingdom
SummaryLegal Services in the United Kingdom industry profile provides top-line qualitative and quantitative summary information including: market size (value 2019-24, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Legal services market refers to the industry that involves professionals and firms offering legal counsel, support, and representation in different areas of law. Industry scope covers a wide range of legal fields such as commercial, criminal, family, labor, taxation, insolvency, legal aid, and other specialized areas, catering to the diverse needs of clients seeking legal support. Market value refers to the revenue generated by law firms in a year for the services they provide, including all relevant taxes. Market volume represents the total number of legal professionals in a country during a specific year.
- The UK legal services market recorded revenues of $64.4 billion in 2024, representing a compound annual growth rate (CAGR) of 6.5% between 2019 and 2024.
- Market consumption volume increased with a CAGR of 1.9% between 2019 and 2024, to reach a total of 215.4 thousand personnel in 2024.
- The market growth in 2024 is attributed to economic growth, the growing affordability of legal services backed by increasing income levels and employment, and the rising demand for legal services among individuals, businesses, and government entities. For instance, according to the Office of National Statistics, the nominal GDP of the UK increased by 1.2% in Q3 2024 compared to the previous quarter, with an annual increase of 4.0% when compared to Q3 2023.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the legal services market in the United Kingdom
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the legal services market in the United Kingdom
- Leading company profiles reveal details of key legal services market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the United Kingdom legal services market with five year forecasts
Reasons To Buy
- What was the size of the United Kingdom legal services market by value in 2024?
- What will be the size of the United Kingdom legal services market in 2029?
- What factors are affecting the strength of competition in the United Kingdom legal services market?
- How has the market performed over the last five years?
- What are the main segments that make up the United Kingdom's legal services market?
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