Solicitors, barristers, patent agents, notaries and bailiffs carry out legal activities on behalf of private and corporate clients. Over the five years through 2015-16, the industry is expected to grow at a compound annual rate of 2.4%, largely due to a recovery in business activity following the economic downturn. In the current year, revenue is forecast to expand by 4.2% to £30.6 billion.
Top-tier firms continued to be affected by the hangover effects of the downturn over the past five years, since they earn the majority of their revenue from large corporate clients.
This industry includes firms that provide legal services, including solicitors, barristers, patent agents, notaries and bailiffs. Lawyers provide advocacy and advice on a range of topics, such as commercial, property, private, criminal and family law. Law courts are not covered in the industry.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.