Expert testimony: More civil cases and increased budgets will modestly boost industry revenue

The Expert Witness Consulting Services industry is predominately made up of technical experts who provide consulting services across a range of industries and disciplines. Over the five years to 2016, industry revenue declined, as cost-conscious clients avoided costly litigation, instead engaging in dispute resolution mechanisms, such as mediation and arbitration. Moving forward, 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, the legal industry is continually trending toward avoiding costly litigation, opting instead to work toward alternative dispute resolution...purchase to read more.

Industry Statistics & Market Size
Revenue
$130m
Annual Growth 11-16
-2.5%
Forecast Growth 16-21
Profit
Employment
3,379
Businesses
2,035
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Expert witness consultants will benefit from higher corporate profit and more civil cases
  • External competition has pressured industry profit over the past five years
  • Expert witness consulting firms are expected to benefit from greater downstream demand
  • Industry Report - Industry Investment Chapter

    The Expert Witness Consulting Services industry is highly labor-intensive, resulting in a low level of capital intensity. The high proportion of revenue spent on labor reflects the service-oriented nature of expert witness consulting and the high level of education required for consultants. Larger firms in the industry are more labor intensive because they hire a more skilled staff. Larger firms desire employees that are more highly educated because the firms use reputation to remain competitive. Capital investment in this industry is largely for computers and software for using advanced research databases and developing graphical presentations for trials.For every dollar spent on labor, industry operators are estimated to spend $0.02 on capital investment. The...purchase to read more.

    Additional Insights for the Expert Witness Consulting Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Expert Witness Consulting Services Industry are

  • Ability to compete on tender
  • Effective quality control
  • Access to highly skilled workforce
  • IBISWorld analysts also discuss how external factors such as Demand from law firms and Corporate profit in the Expert Witness Consulting Services industry impact industry performance..

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    What's in this report

    What is the Expert Witness Consulting Services Industry?

    This industry provides witnesses to offer expertise and specialized knowledge within particular subject areas in court cases. This does not include in-house expert witnesses from firms that have a general counsel or legal team.

    Industry Products
  • Economic experts
  • Energy, mining and geological experts
  • Medical and safety experts
  • Agricultural, fisheries and biological experts
  • Other experts
  • Industry Activities
  • Providing economic experts
  • Providing energy, mining and geological experts
  • Providing medical and safety experts
  • Providing agricultural, fisheries and biological experts
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from law firms
  • Corporate profit
  • Crime rate
  • Government consumption and investment
  • External competition
  • Per capita disposable income

  • Current Performance
  • Weak demand
  • Skilled employees
  • Competition intensifies
  • Changing services
  • Chart: Revenue Growth

  • Industry Outlook
  • Improving demand conditions
  • Competition and expansion
  • Increased specialization
  • Table: Expert Witness Consulting Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Expert Witness Consulting Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Information
  • Public Administration
  • Consumers

  • Key Selling Industries
  • Commercial Leasing
  • Computer Stores
  • Office Furniture Manufacturing

  • Products & Services
  • Other experts
  • Economic experts
  • Energy, mining and geological experts
  • Medical and safety experts
  • Agricultural, fisheries and biological experts
  • Chart: Expert Witness Consulting Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Businesses
  • Government
  • Individuals
  • Nonprofit organizations
  • Chart: Major Market Segmentation for the Expert Witness Consulting Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases and depreciation
  • Rent and utilities
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Expert Witness Consulting Services

  • Basis of Competition
  • Internal Competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Expert Witness Consulting Services Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Expert Witness Consulting Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Expert Witness Consulting Services Industry
    Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Corporate profit (2007-2021)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Expert Witness
  • A person who has expertise and specialized knowledge in a particular area greater than that of an average person and others may rely on the witness's opinion about the specialized matter at hand.
  • Litigation
  • The act or process of bringing or contesting a legal action in court
  • Tendering
  • A written offer or bid to contract goods or services at a specified cost or rate.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Expert Witness Consulting Services Industry Research Report offers insight into the market at the national level. Our analysis highlights macro trends in the overall sector and the micro trends faced by companies that do business in the Expert Witness Consulting Services industry. Our five-year outlook forecasts explain how the market is set to change and the product segments that will drive growth.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Expert Witness Consulting Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Expert Witness Consulting Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Expert Witness Consulting Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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