openPR Logo
Press release

UK Legal Services Market Emerging Growth, Opportunity Assessment, Product Overview, Application Forecast 2022

05-18-2018 12:04 PM CET | Politics, Law & Society

Press release from: QY Research Groups

UK Legal Services

UK Legal Services

The UK legal services market (including private practice firms, barristers, patent agents, and other legal services providers) was valued at an estimated £32.7bn in 2018 and this is an increase of 3.8% on the market value of £31.5bn in 2018.

There are around 12,000 law firms in the UK, and 12,248 in England and Wales at the end of 2018. The overwhelming majority of law firms - 87% - are small firms with four or less partners but the top 200 law firms account for over 52% of private practice revenues generated in the UK.

Visit on the below link to get a sample of report@ https://bit.ly/2rOP9hk

Revenue growth for the top 200 firms outperformed growth in the legal market overall partly because most of their work is in the corporate sector which is performing better than most consumer law sectors and partly because a significant percentage of their revenue comes from overseas.

Business models for law firms have changed over the last decade. By the end of 2018, incorporated companies accounted for 47% of all law firms and the traditional partnership model accounted for only 18.2% and is still falling.

There are now over 1,100 Alternative Business Structures (ABS), the mechanism through which non-lawyers can invest in law firms and legal services. The number of ABS licensing bodies is now five with CILEx applying to become the sixth in 2018. The Solicitors Regulation Authority (SRA) still accounts for a majority of ABS.

Browse full report with Table of Content@ https://www.qyresearchgroups.com/report/uk-legal-services-market-2018-2023

Our revenue growth forecast for UK legal services market in 2019 is 5.2%, an improvement on 2018. In 2020 and 2023, market growth is forecast to be even stronger with the total market value forecast to reach over £40bn by 2021. Corporate law will continue to drive market growth.

In the next year or so, and leaving Brexit aside, the two factors that are likely to have a major impact are IT innovation, and calls for price transparency. The former is not just about artificial intelligence (AI) which, despite all the media coverage, has yet to be used extensively in the legal sector. It is important for firms of all sizes to explore IT innovation such as CRM system improvements, new ways of working, improved client-facing portals, IT to aid mobile working and so on. These IT improvements will not only help to manage costs and improve efficiency but also create client-centric solutions that will help to differentiate one law firm from another.

By far the largest segment in the UK market is legal work for business and commercial affairs (including commercial property) accounting for 46% of total market revenue and most of the high-value work in this segment is undertaken by the larger law firms. The largest consumer law segments are personal injury/accident/medical negligence work, and family law, contributing an estimated 12% and 8% respectively of UK market revenue.

Visit on the below link to get a sample of report@ https://bit.ly/2rOP9hk

Make An Enquiry@ https://www.qyresearchgroups.com/send-an-enquiry/949217

About Us:
QY Research Groups is a company that simplifies how analysts and decision makers get industry data for their business. Our unique colossal technology has been developed to offer refined search capabilities designed to exploit the long tail of free market research whilst eliminating irrelevant results. QY Research Groups is the collection of market intelligence products and services on the Web. We offer reports and update our collection daily to provide you with instant online access to the world's most complete and current database of expert insights on global industries, companies, products, and trends.

Contact us:
Email- sales@qyresearchgroups.com
Web- https://www.qyresearchgroups.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release UK Legal Services Market Emerging Growth, Opportunity Assessment, Product Overview, Application Forecast 2022 here

News-ID: 1054649 • Views:

More Releases from QY Research Groups

Sanitary Pads Market Growth Statistics and Key Players Insights: P&G, Kimberly Clark, HengAn, Johnson & Johnson, Unicharm
Sanitary Pads Market Growth Statistics and Key Players Insights: P&G, Kimberly C …
A sanitary pad is an absorbent item worn by women who are menstruating, bleeding after giving birth, recovering from gynecologic surgery, experiencing a miscarriage or abortion, or in any other situation where it is necessary to absorb a flow of blood from the vagina. The Sanitary Pads report is an exclusive elaborated study of the given industry with an aim towards the global market trend. The report focuses to deliver a
Thermoplastic Hose Market 2019 Analysis The Global Key Players: Kurt Hydraulics, Manuli, Alfagomma, Yokohama Rubber, Gates Corporation
Thermoplastic Hose Market 2019 Analysis The Global Key Players: Kurt Hydraulics, …
The global analysis report titled as Thermoplastic Hose Market has recently published by QY Research Groups to its huge repository which helps to make informed decisions in the businesses. It includes a comprehensive analysis of the market. This research report throws light on historical records, existing market scenario and future predictions of market growth. Primary and secondary research methodologies have been used for examining the global Thermoplastic Hose Market. It
Pallet Pooling Market 2019 SWOT Analysis By Players; Brambles Limited, Buckhorn, CABKA Group, Contraload NV, Litco International
Pallet Pooling Market 2019 SWOT Analysis By Players; Brambles Limited, Buckhorn, …
The global analysis report titled as Pallet Pooling Market has recently published by QY Research Groups to its huge repository which helps to make informed decisions in the businesses. It includes a comprehensive analysis of the market. This research report throws light on historical records, existing market scenario and future predictions of market growth. Primary and secondary research methodologies have been used for examining the global Pallet Pooling Market. It
Manufactured Housing Market 2019 SWOT Analysis By Major Eminent Players; Clayton Homes, Champion Home Builders, Schult Homes, Hammond, Cavco
Manufactured Housing Market 2019 SWOT Analysis By Major Eminent Players; Clayton …
The global analysis report titled as Manufactured Housing Market has recently published by QY Research Groups to its huge repository which helps to make informed decisions in the businesses. It includes a comprehensive analysis of the market. This research report throws light on historical records, existing market scenario and future predictions of market growth. Primary and secondary research methodologies have been used for examining the global Manufactured Housing Market. It

All 4 Releases


More Releases for Legal

WHATSAPP Legal English group with Legal-Ease International
Legal-Ease International the World Leader in Legal English has begun for the first Time a WhatsApp group. This group provides vocabulary and different terms to participants each day. The terms are sent out daily, Dena Falken Founder of Legal-Ease International is hands on in this endeavor. It is a daily reminder of the terms learned in the Legal-Ease Seminar. It also provides a free service for Foreign Legal professionals that can
Legal Practice Management Software Market Segments Analysis 2019 - Themis Soluti …
Legal Practice Management Software Market share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks). Market Research Place has recently published an innovative report to its database titled as Global Legal Practice Management Software Market 2019. Firstly, the report presents an accurate market overview and provides significant market numbers. The report highlights growth opportunities and market valuation. The report involves
Legal Software Market 2019: Latest Trends, Demand and Advancement by Clio, Pract …
Global Legal Software Market Regional Growth Trends Focusing during 2019-2025 has been added to the wide online database of HealthCare Intelligence Markets which discusses the present as well as future market scenario. The readers can access knowledge related to market volume, regional expanse as well as competitive landscape prevailing in the Global Market. Market is gaining high traction in the recent times, with increasing investments on the development of Legal
Legal Management Software Market 2025 Size Report | Clio, Practice Panther Legal …
Get Free sample at https://www.reportsnreports.com/contacts/requestsample.aspx?name=1807213 . The latest trending report Legal Management Software Market offered by ReportsnReports.com is an informative study covering the market with detailed analysis. The report will assist reader with better understanding and decision making. The Legal Management Software Market report also covers in-depth description, competitive scenario, wide product portfolio of prime players active in this market and business strategies adopted by competitors along with their SWOT analysis. Complete
Legal Case Management Software Market Status 2017 Leap, LexisNexis, ProLaw, Perf …
Global Legal Case Management Software Market Size, Status and Forecast 2022 provides Market information about Manufacturers, Countries, Type and Application.This Industry report also states Company Profile, sales, Legal Case Management Software Market revenue and price, market share, market growth and gross margin by regions. Top Manufacturers/Key Players: Clio MyCase TrialWorks Needles The Legal Assistant Legal Files
Global Business & Legal Leaders Benefit From Online Legal Talk Sessions
Virtual Small Group Conversations Enhance Cultural Understandings of Legal Issues Minneapolis, MN, October 11, 2011 - Karen Lundquist, licensed Minneapolis attorney and legal English consultant and owner of Karen Lundquist Legal Language Consulting and Attenza Law, announces the availability of Online Legal Talk sessions. These small group virtual gatherings of up to 12 participants allow attorneys and other legal professionals from around the world to connect through the law and through