The initial round of research indicates that there is sufficient information on the topic.
Market Size and Growth
- According to a recent report by IBIS World, the total U.S. market size of the expert network industry is currently projected to be worth $997.3 million by year-end 2021. This figure represents a slight decline from its 2019 market size, which totaled about $1.02 billion.
- The IBIS World report further added that between 2016 and 2021, the expert network industry increased at a CAGR of 4.9% per annum. Compared to other industries, the expert network industry in the U.S. increased faster than the advisory and financial services sectors.
- A separate report by Integrity Research found that the global market size of the expert network industry reached $1.5 billion in 2020. The U.S. is currently the largest market for expert network services, while the Asian market is currently experiencing the fastest growth. The report estimates that aggregate revenues for the industry slowed to low double digits in 2020 due to the effects of Covid-19.
- The Gerson Lehrman Group (GLG) is regarded as a leader in the expert network industry. The company was founded in 1998 and helps clients connect with subject-matter experts. According to a report by Research and Markets, Gerson Lehrman Group (GLG) is estimated to account for 50.0% of total revenue alone.
In the initial hour of research, the research team was able to determine the current global market size and U.S. market size of the expert network industry. In addition, we were also able to provide insights into the current key players in the industry and their corresponding market shares.