Investigation Services in the UK - Market Size, Industry Analysis, Trends and Forecasts (2025-2029)

Investigation Services in the UK industry analysis

The private investigations industry covers both investigations for individuals and corporate clients, which make up the bulk of revenue. A weakening trend in M&A activity has led to a slump in demand for corporate investigations in Europe. Companies usually hire corporate investigators to conduct due diligence prior to a potential merger or acquisition. However, from 2019 to 2023, M&A activity in Europe slumped, which is attributed to high interest rates in the UK and Eurozone, making it difficult for companies to fund high-value deals. According to data from Kroll, 2023 saw European target M&A plummet to a ten-year low, restricting opportunities for investigation firms in corporate intelligence, fraud risk assessment and asset tracing. Overall, investigation services revenue is projected to dip at a compound annual rate of 0.3% over the five years through 2025, alongside an expected hike of 1.5% in 2025, reaching €1.2 billion.

Trends and Insights

• Falling M&A activity dampens the need for European corporate investigations. Shrinking merger and acquisition activity between 2019 and 2023 due to steep interest rates has subdued businesses' demand for due diligence checks before pursuing high-value deals.
• M&A downturn hits corporate investigation demand. The lull in European merger and acquisition activities, driven by low business confidence and high interest rates, is diminishing the need for corporate investigations.
• The industry is highly fragmented. There are many PIs that offer services to just the local area. Corporate investigation is a more concentrated, with legal firms offering investigation services across multiple countries.