The UK legal services sector increased by 6.1% in 2025, according to the latest legal services market report from IRN Legal Reports. The total estimated value of the market last year was £55.5 billion, with residential conveyancing accounting for £2.5 billion.
The largest segment in the consumer legal services market was in personal injury or accident and medical negligence work, which was valued at £4.6 billion. All core practice areas in both the B2B and B2C markets are expected to show further growth in 2026.
Consolidation continues to be a key feature the legal sector, with the number of SRA regulated firms in England and Wales falling below 9,000 by the end of 2025. In December 2020, the figure stood at 10,056. At the same time, the number of solicitors with practising certificates in England and Wales has grown, up by 20,000 between 2020 and 2025.
A growing private equity presence in the UK legal services market is another continuing theme recorded in the report. Of all the UK mergers and acquisitions that have taken place since the 2025 report, an estimated 31% involved either new investments by private equity businesses or private equity backed law firms. In 2024, the figure was 25% in 2024 and in 2023 it stood at 20%.
The 16th edition of the UK Legal Services Market report runs to 73 pages and features an in-depth review of the legal services market in the UK, including market structure and developments, key players, mergers and acquisitions, market trends and segmentation.
The report is available directly from IRN Legal at the usual price of £420, but is available to Today’s Conveyancer readers at the discounted cost of £350: https://www.irnlegalreports.com/store/Client-Report-Discount26-p716009386
