UK Legal Services Market Report 2017

Date: March 8, 2017
Pages: 86
Price:
US$ 520.00
Publisher: IRN Research
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: U3CC928108BEN
Leaflet:

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UK Legal Services Market Report 2017
UK Legal Services Market
EXECUTIVE SUMMARY

UK LEGAL MARKET TIMELINE

MARKET STRUCTURE

A mostly regulated market
Many sub-markets
The number of law firms
Personnel numbers

MARKET DEVELOPMENTS

Brexit
The CMA calls for more price transparency
CMA findings build on existing pressure for fixed fees
Efforts to reduce the number of full trials
Greater use of technology
Civil Courts Structure Review
Medco and the Claims Portal Reforms
Government confirms further reforms of the personal injury market
Probate fees to increase in 2017
The Financial List makes its first ever judgement
ABS sector continues to develop
Separation of legal regulators from their representative bodies
SRA proposals that solicitors be allowed to engage in unregulated activities

THE KEY PLAYERS

The Top
The Top
Acquisitions and mergers
Top 5 UK Law Firms – Profiles
Selected Other Legal Services Providers
Consumer Law Firms

MARKET SIZE AND TRENDS

Legal firms experience a decline in turnover in 2016
2016 the second worst year in a decade
With barristers experiencing the biggest rollercoaster of sales

MARKET SEGMENTATION

Corporate, financial and commercial law
International litigation and dispute resolution
Personal Injury
Commercial and residential property, including conveyancing
Wills, trusts and probate
Family law
Employment law

PRACTITIONER RESEARCH

Volume growth holds up in most consumer law sectors
Weaker revenue prospects in PI and wills/probate

THE FUTURE

An uncertain future
New personal injury rules could cause a reduction in law firm numbers
More flexible market where large firms may take on a contractor role
Controlling costs will be a top priority
The end of the partnership business model
Technology set to play a growing role
More mergers
Forecasts

PROFESSIONAL BODIES AND REGULATORY AUTHORITIES
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