The UK legal services market (including private practice firms, barristers, patent agents, and other legal services providers) was valued at an estimated £37bn in 2019, increasing by 4.6% at current prices on the 2018 market value.Revenue growth for the top 100 firms outperformed growth in the legal market overall partly because most of their work is in the corporate sector which continues to perform better than most consumer law sectors and partly because a significant percentage of their revenue comes from overseas. Many firms in this group have also been at the forefront of investment in new technologies and processes to create a more efficient working model.
By far the largest segment in the UK market is legal work for business and commercial affairs accounting for 46% of total UK market revenue. Consumer law market value is estimated at £20bn and the largest segment is personal injury/accident/medical negligence work.
These and may other facts and findings are presented in this year’s report.
The full report, The UK Legal Services Market 2020, is available directly from IRN Research, priced at £400. UK sterling price is plus VAT so total price is £480.