Industry Analysis & Industry Trends
During the recession, demand for the Expert Witness Consulting Services fell due to lower corporate profits and tightened government budgets. However, as the economic downturn's aftereffects start to dwindle away, demand for industry services will rise as budgets return to prerecessionary levels. In the next five years, the industry is set to benefit from an increase in per capita disposable income, government consumption and investment, corporate profit and strengthened demand from law firms. Despite these improvements, expert witness consulting firms will continue to face competition from large consulting firms and law firms that have a general counsel or in-house legal team with expert witnesses.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Expert Witness Consulting Services industry is in the mature phase of its industry life cycle. The services provided by industry operators are relatively stable and clearly defined. Furthermore, the industry serves a variety of established markets, with access to new markets limited due to the industry's already wide reach.
In the 10 years to 2020, industry value added (IVA), which represents the industry's contribution to the overall economy, is projected to remain steady, with 0.0% annualized growth. Over the same period, US GDP is projected to increase at an annualized rate of 2.2%. As a result, the industry's importance to the economy is slightly decreasing... purchase to read more