Special report
State of the UK Legal Market 2024
Following a year of considerable volatility, law firm clients in the UK today remain focused on commerciality and cost control, while risk and environmental, social, and governance (ESG) factors have become critical points of interest for many. At the same time, most welcome further use of technology in driving efficiency.
However, even with the positivity, challenges for law firms remain.
Domestic political uncertainty, geo-political challenges, an increasingly complex risk and regulatory environment, the rising prominence of artificial intelligence, and unceasing cost pressures from clients continue to weigh heavily on the minds of law firm leaders.
This report explores the potential for growth in legal spend by UK corporations and what in-house legal teams are prioritising for 2024, as well as:
- The growing importance of commerciality and risk management
- A significant increase in the number of in-house teams listing ESG as a key priority
- Satisfaction levels with outside counsel service dipping slightly
- Specialist knowledge increasing as a key requirement for any law firm relationship