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 Products Chapter
The Expert Witness Consulting Services industry derives its revenue from expert testimony on a broad range of topics. The industry generates the greatest portion of revenue from economic consulting activities, followed by consulting in the fields of energy, mining and geology, medical and safety and agriculture.
The industry's largest demand service segment is for economic experts, who are expected to account for 26.6% of industry revenue in 2015. Economic consulting services are demanded as expert testimony on major litigation issues in the areas of antitrust, intellectual property damages, and the practices of financial institutions... purchase to read more