Expert Networks Statistics


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Expert Networks Statistics 2023: Facts about Expert Networks outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Expert Networks, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

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Top Expert Networks Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 17 Expert Networks Statistics on this page 🙂

Expert Networks “Latest” Statistics

  • 81% of investment professionals believe that “talking to experts” is a legitimate and value-adding part of the investment due diligence process, according to a 2011 TABB Group report.[1]
  • Integrity Research’s report estimates that expert network companies will bring in $1.5 billion in revenue in 2020.[1]
  • In 2022, more than 120 expert networks contributed more than $2.1 billion to the revenues of the expert network industry.[2]
  • Since 2015, the expert network has grown by 18% on average.[2]
  • GLG has experienced a CAGR of 8% since 2015, making it the largest player in a market that is becoming increasingly crowded.[2]
  • Analysis indicates that AlphaSights, Guidepoint, and Third Bridge are trailing behind it, expanding at rates of 15-30% CAGR over the same time frame.[2]
  • By the beginning of 2022, approximately 4,500 businesses are utilizing expert networks.[2]
  • The expert network industry expanded at an annual rate of 4.5 percent between 2015 and 2020, reaching a market size of US$1.3 billion in 2019 and US$1.5 billion in 2020.[3]
  • It is estimated that Gerson Lehrman Group, the industry’s dominant expert network operator, generates 50.0% of total revenue alone.[4]
  • In May 2021, the average annual salary for computer network support specialists was $62,760.[5]
  • In May 2021, the average annual salary for computer user support specialists was $49,770.[5]
  • In the expert network industry, AlphaSights and Third Bridge are close behind, growing at an average annual rate of 30% over the past five years.[6]
  • Over half of the respondents (54%) use between two and four Expert Networks, followed by 42 percent who entrust their research to one Expert Network and the remaining 4 percent who prefer to draw conclusions from working with five or more Expert Networks.[7]
  • Expert Networks will become increasingly important in consulting, according to 3.8 out of 5 respondents, and 80% anticipate that Expert Call volume will grow at the same rate or faster than their company’s business.[7]
  • 57 respondents mentioned strategy cases, 42 mentioned proposal work, Internal Studies (25), Performance Improvement / Cost Reduction (25), and Transformation Projects (23) as the types of consulting projects for which they anticipate increasing their Expert Network usage.[7]
  • 4 out of 5 clients who took part in the Guidepoint Client Survey agreed that their company uses Expert Networks, and 3 out of 5 clients agreed that more clients are asking for Expert Networks to be used frequently in consulting projects.[7]
  • When asked who makes the most important decisions about whether a project uses Expert Network services, 67% of respondents said Partners/Principals, and the same percentage said Managers/Senior Consultants.[7]

Also Read

How Useful is Expert Networks

One of the key benefits of expert networks is the ability to connect with individuals who possess specific expertise that may not be readily available within an organization. For instance, a company looking to expand into a new market or develop a new product may lack the necessary knowledge or experience in-house. By leveraging an expert network, they can quickly and easily connect with experts who can provide the necessary guidance and advice to help them navigate unfamiliar territory and make better decisions.

Moreover, expert networks can also help companies stay ahead of industry trends, market developments, and emerging technologies. By tapping into the collective knowledge of experts within a given field, businesses can gain valuable insights that can help them anticipate changes, identify opportunities, and stay competitive in a rapidly evolving landscape.

Additionally, expert networks offer a cost-effective solution for accessing specialized expertise without the need to hire full-time employees or consultants. This can be particularly beneficial for smaller companies or startups with limited resources, allowing them to access high-quality expertise on an as-needed basis without incurring the high costs typically associated with hiring a full-time expert.

Furthermore, expert networks can also facilitate cross-industry collaboration and knowledge exchange, enabling professionals from different fields to share insights, best practices, and innovative ideas. This can lead to new opportunities, partnerships, and collaborations that may not have otherwise been possible, ultimately driving innovation and fostering learning and growth across industries.

However, while expert networks offer numerous benefits and opportunities, it is important for businesses and professionals to exercise caution and due diligence when engaging with these platforms. As with any source of information or advice, it is crucial to carefully vet experts and their credentials, verify the accuracy and reliability of the information provided, and ensure that any recommendations or advice align with the organization’s values, goals, and objectives.

In conclusion, expert networks have become an invaluable resource for businesses and professionals seeking specialized expertise, knowledge, and insights to navigate today’s complex and competitive business landscape. By leveraging these networks, companies can access a diverse range of experts, stay ahead of industry trends, and drive innovation and growth. However, it is important to approach these networks with caution and due diligence to ensure that the information and advice received are accurate, reliable, and aligned with organizational goals and values.

Reference

  1. wikipedia – https://en.wikipedia.org/wiki/Expert_network
  2. inex – https://inex.one/blog/expert-network-market-size
  3. rightangleglobal – https://rightangleglobal.com/expert-network-industry-2021-growth-or-decline/
  4. webinarcare – https://webinarcare.com/best-expert-networks/expert-networks-statistics/
  5. bls – https://www.bls.gov/ooh/computer-and-information-technology/computer-support-specialists.htm
  6. forbes – https://www.forbes.com/sites/jonyounger/2020/02/12/the-global-expert-network-business-is-growing-fast-meet-inex-one/
  7. guidepoint – https://www.guidepoint.com/guidepoints-client-survey-consultants-view-on-expert-networks/

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