UK Family Law Market 2018: Structure, Developments & Drivers, Key Players and Future Trends - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 22, 2019--The “UK Family Law Market 2018: Market Trends Report” report has been added to ResearchAndMarkets.com’s offering.
The market bounced back in 2015, after a weak performance in 2014 following the reductions in legal aid, and continued to grow in 2016 and 2017. In 2018, the value of the market grew by an estimated 3.8%, a slightly higher level than the 3.2% recorded in 2017.
The UK family law market value is forecast to increase steadily over the next five years. While divorce cases are expected to increase in 2018, we are anticipating a longer term decline in divorce cases but growth is likely to come from some rises in legal costs, and work in other areas, e.g. legal work for co-habitating couples/civil partnerships, Children Act work, domestic violence work.
Obstacles to market growth include the likely drop in marriages per year, further increases in DIY family law work (boosted by the new online divorce platform from the Ministry of Justice), the likelihood of price transparency introduced into the market which may create a price war amongst some suppliers, and the potential for a no-deal Brexit to create problems for international family law cases.
Over 2018 to 2022, the market is expected to grow by 13% in value terms.
A large percentage of firms involved in the family law market are optimistic about the prospects for the coming year according to the authors latest survey: a significant majority of firms - 73% - are predicting increased work volumes in the next 12 months and this is the highest percentage in the three years of the survey: it compares with 70% in 2017 and 67% in 2016.
The family law sector, like the consumer legal market as a whole, exhibits the classic long-tail characteristics of a professional services sector. There are large specialist international law firms dealing with high net worth clients and offering family law services plus large law firms focusing on consumer law. There are niche family law specialist firms and then a large number of general practice law firms offering family law alongside other consumer law services.
1. Executive Summary
3. Market Structure
4. Market Developments & Drivers
5. The Key Players
6. Market Size & Trends
7. The Future
For more information about this report visit https://www.researchandmarkets.com/research/h44989/uk_family_law?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190122005596/en/
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KEYWORD: UNITED KINGDOM EUROPE
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL CONSUMER FAMILY
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 01/22/2019 09:52 AM/DISC: 01/22/2019 09:52 AM