Legal Services in the United Kingdom

Introduction

Legal Services in the United Kingdom industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2006-10, and forecast to 2015). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the United Kingdom legal services market. Includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Highlights

*The legal services market includes practitioners of law operating in every sector of the legal spectrum. These include commercial, criminal, legal aid, insolvency, labor/industrial, family and taxation law. The market's value is calculated as the total revenues received by law companies for services rendered. These values include all applicable taxes. Market volumes in this report refer to the total number of legal professionals. All currency conversions are calculated at constant average annual 2010 exchange rates.

*The UK legal services market had total revenues of $39,553 million in 2010, representing a compound annual growth rate (CAGR) of 2.3% between 2006 and 2010.

*Market consumption volumes increased with a CAGR of 2.3% between 2006-2010, to reach a total of 175,631.4 units in 2010.

*The performance of the market is forecast to accelerate, with an anticipated CAGR of 4.6% for the five-year period 2010 - 2015, which is expected to drive the market to a value of $49,508.9 million by the end of 2015.

Features

Save time carrying out entry-level research by identifying the size, growth, 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 by both value and volume

Macroeconomic indicators provide insight into general trends within the United Kingdom economy

Key Questions Answered

What was the size of the United Kingdom legal services market by value in 2010?

What will be the size of the United Kingdom legal services market in 2015?

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?

How large is the United Kingdom’s legal services market in relation to its regional counterparts?
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TABLE OF CONTENTS
EXECUTIVE SUMMARY 2
MARKET OVERVIEW 7
Market definition 7
Research highlights 8
Market analysis 9
MARKET VALUE 10
MARKET VOLUME 11
MARKET SEGMENTATION 12
FIVE FORCES ANALYSIS 13
Summary 13
Buyer power 14
Supplier power 15
New entrants 16
Substitutes 17
Rivalry 18
LEADING COMPANIES 19
Clifford Chance LLP 19
Freshfields Bruckhaus Deringer LLP 20
Linklaters LLP 22
Slaughter & May 24
MARKET FORECASTS 25
Market value forecast 25
Market volume forecast 26
MACROECONOMIC INDICATORS 27
APPENDIX 29
Methodology 29
Industry associations 30
Related Datamonitor research 30
Disclaimer 31
ABOUT DATAMONITOR 32
Premium Reports 32
Summary Reports 32
Datamonitor consulting 32

LIST OF TABLES
Table 1: United Kingdom legal services market value: $ billion, 2006–10 10
Table 2: United Kingdom legal services market volume: thousand units, 2006–10 11
Table 3: United Kingdom legal services market segmentation: % share, by value, 2010 12
Table 4: Clifford Chance LLP: key facts 19
Table 5: Freshfields Bruckhaus Deringer LLP: key facts 20
Table 6: Linklaters LLP: key facts 22
Table 7: Slaughter & May: key facts 24
Table 8: United Kingdom legal services market value forecast: $ billion, 2010–15 25
Table 9: United Kingdom legal services market volume forecast: thousand units, 2010–15 26
Table 10: United Kingdom size of population (million), 2006–10 27
Table 11: United Kingdom gdp (constant 2000 prices, $ billion), 2006–10 27
Table 12: United Kingdom gdp (current prices, $ billion), 2006–10 27
Table 13: United Kingdom inflation, 2006–10 28
Table 14: United Kingdom consumer price index (absolute), 2006–10 28
Table 15: United Kingdom exchange rate, 2006–10 28

LIST OF FIGURES
Figure 1: United Kingdom legal services market value: $ billion, 2006–10 10
Figure 2: United Kingdom legal services market volume: thousand units, 2006–10 11
Figure 3: United Kingdom legal services market segmentation: % share, by value, 2010 12
Figure 4: Forces driving competition in the legal services market in the United Kingdom, 2010 13
Figure 5: Drivers of buyer power in the legal services market in the United Kingdom, 2010 14
Figure 6: Drivers of supplier power in the legal services market in the United Kingdom, 2010 15
Figure 7: Factors influencing the likelihood of new entrants in the legal services market in the United Kingdom, 2010 16
Figure 8: Factors influencing the threat of substitutes in the legal services market in the United Kingdom, 2010 17
Figure 9: Drivers of degree of rivalry in the legal services market in the United Kingdom, 2010 18
Figure 10: United Kingdom legal services market value forecast: $ billion, 2010–15 25
Figure 11: United Kingdom legal services market volume forecast: thousand units, 2010–15 26


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