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.

How much of an impact will Expert Networks Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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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 primary ways in which expert networks prove useful is through their ability to provide timely and relevant information to clients. In today’s fast-paced business environment, staying ahead of the competition requires access to the most up-to-date and accurate information available. Expert networks offer a direct line to industry experts who can provide insights and analyses that may not be readily accessible through traditional research sources.

Moreover, expert networks offer a unique opportunity for clients to gain a deeper understanding of complex and nuanced topics. By connecting with experts who possess specialized knowledge and experience in a particular field, clients can ask detailed questions and receive in-depth explanations that go beyond surface-level analysis. This deeper level of understanding can be invaluable in making strategic decisions that have a significant impact on the success of a business or investment.

Another key advantage of expert networks is their ability to provide tailored and personalized insights to clients. By matching clients with experts who have a specific expertise or skill set, expert networks can deliver customized information that meets the individual needs and goals of each client. This personalized approach ensures that clients receive the most relevant and useful information possible, maximizing the benefit of utilizing an expert network.

Furthermore, expert networks offer a cost-effective solution for accessing expert advice and insights. Instead of hiring full-time experts or consultants, which can be expensive and impractical for many businesses, expert networks provide a flexible and affordable alternative. Clients can engage with experts on an as-needed basis, paying only for the time and expertise they require. This cost-effective model makes expert networks accessible to businesses of all sizes and budgets.

Additionally, expert networks can provide a valuable source of industry trends and market insights that may not be widely known or understood. By tapping into the collective knowledge of experts across various industries, clients can gain a comprehensive view of current and emerging trends that can inform their decision-making processes. This broad perspective can help clients identify opportunities for growth and development that may not have been apparent otherwise.

In conclusion, expert networks offer a range of benefits and advantages to clients seeking specialized knowledge and insights. From providing timely and relevant information to delivering personalized and tailored advice, expert networks play a valuable role in helping businesses and investors make informed decisions and strategic plans. As the business landscape continues to evolve and become increasingly complex, the use of expert networks is likely to become even more essential in navigating the challenges and opportunities that lay ahead.

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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