More detailed official legal market data now here after request from Core Legal member IRN Research

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5 February 2014


Following a request by Core Legal founder and member IRN Research, the Office for National Statistics (ONS) has published a breakdown of UK monthly legal market turnover which, for the first time, gives segmented turnover data for solicitors, barristers, and patent/copyright agents. Up to now, only total market size figures have been published.

These landmark figures make interesting reading as they suggest that, out of a total UK market of £26.4bn in 2012, ONS puts the revenue for solicitors at £16bn which is lower than many other market estimates but turnover of patent/copyright agents was estimated at almost £9bn. Barristers account for the remaining £1.7bn.

IRN Research will analyse the figures in more detail over the next few months and try and find out more about the methodology. IRN has also approached the ONS to see if this data can be published on a regular basis.

Table 1: UK Legal Services Turnover by Segment per month, Jan 2012 – Aug 2013 (£bn)

Barristers Solicitors Patent & copyright agents
2012      
January

189

1,282

714

February

139

1,169

667

March

152

1,474

792

April

120

1,465

874

May

147

1,209

611

June

147

1,168

711

July

143

1,359

751

August

140

1,235

647

September

131

1,257

675

October

155

1,493

881

November

132

1,401

749

December

124

1,300

834

 

2013

January

208

1,495

768

February

177

1,408

686

March

175

1,513

855

April

190

1,654

922

May

169

1,260

811

June

121

1,286

882

July

174

1,455

996

August

164

1,261

728

Source: National Statistics/ IRN Research

The Excel data spreadsheet is at:

http://www.ons.gov.uk/ons/about-ons/business-transparency/freedom-of-information/what-can-i-request/published-ad-hoc-data/econ/november-2013/index.html

About IRN Research

IRN Research offers bespoke market research services to the legal services sector plus IRN Legal, an annual information & research service on the UK legal services market. For £850 a year (plus VAT), subscribers receive:

PDF copy (60pp) of the 2014 UK Legal Services Market Report (with half yearly update)
PDF copy (60pp) of the 2014 Legal Landscape Report (with half yearly update)

One or more PDF copies (20pp each) of each of our annual UK Legal Market Briefings – Conveyancing (2013 published and 2014), Wills and Probate (published Feb 2014), Personal Injury (2014), Family Law (2014) – published throughout the year.
One or more PDF copies of the monthly UK Legal Market Trends, with legal market data, new surveys, new reports, legal M&A activity etc.

We can email PDF copies of our reports when they are published to as many of your staff as you wish, or you can circulate yourself.


Further details from: David Mort at dmort@irn-research.com, Tel: 0121 635 5210, or visit

http://www.irn-research.com/sector-specific-services/legal-services/

About Core Legal

CoreLegal is your one stop shop for suppliers who understand the legal profession. Our members provide high quality non-legal services that will support the growth and development of your business. Every member of CoreLegal is a specialist in its field, with a proven track record of serving law firms, solicitors and barristers.
http://www.corelegal.net

Get in touch if you have a specific service you are interested in finding out more about.

Phone no: 01494 483728

 

 



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