UK Legal Market
The UK law sector is one of the leading global legal markets, rated as the second largest in the world by fee income and was valued at £35.1 billion in 2018. This represents a 6.3% increase, or a 3.7% real increase if you factor in inflation from the previous year, showing a healthy growth within the sector. The market itself is very diverse with over 9,500 law firms and 91,000 solicitors in the UK showing not only the high demand for legal services but also the high levels of competition that exists. It is therefore important to look for firms that stand out in the market and can continue to deliver strong performance. MARKET The market looks set for sustained growth, with the Law Society predicting 2.2% average annual growth from 2019-2025 with a soft Brexit, or dropping to 1.5% with a 'harder' deal. Brexit will be a key factor on the sector’s growth rate due to its focus on the UK domestic market, increasing its sensitivity to Brexit outcomes and the surroundin