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Expert Witness Consulting Services in the US Industry Market Research Report from IBISWorld Has Been Updated

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New York, NY (PRWEB) July 19, 2014

The Expert Witness Consulting Services industry recovered strongly from the recession over the past five years. Despite strong growth prior to the economic downturn from robust corporate and legal activity, industry demand and revenue fell during the recession. A decline in per capita disposable income and corporate profit caused businesses and customers to have fewer funds available for expert witness consulting services; consequently, the industry’s growth slowed in 2009. Since 2010, industry demand and revenue have increased as corporate profit and per capita disposable income strengthened as well. Overall, IBISWorld expects industry revenue to increase at annualized rate in the five years to 2014, as the industry recover from recession lows. Revenue is estimated to increase due to greater demand from law firms and government organizations.

According to IBISWorld Industry Analyst David Yang, “Competition has increased throughout the past five years, which has pressured revenue growth and industry profit.” Although firms in the industry compete against one another on the basis of price, quality of service, expertise, communication skills and reputation, the industry as a whole faces significant external competition as well. In particular, integrated management consulting firms and large accounting firms that provide comprehensive strategy, economic and management consulting services pose as competition to expert witness consulting services. External competition also comes from firms that have a general counsel or in-house legal team with expert witnesses. Nevertheless, industry profitability is expected to increase in the five years to 2014, due to the recovery from recession lows.

During the five years to 2019, IBISWorld projects industry revenue to increase at an average annually. “Expert witness consultants will benefit largely from strengthened demand from law firms, higher corporate profit, a larger number of civil cases and greater per capita disposable income,” says Yang. For instance, corporate profit is expected to grow at an average annual rate in the five years to 2019. With this, potential customers will have more money available for the industry’s high-cost services. In the next five years, companies are expected to provide more value-added services and employ workers with specialized backgrounds, and as a result, firms will be able to offer more services to clients and compete more effectively in the industry.

For more information, visit IBISWorld’s Expert Witness Consulting Services in the US industry report page.

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IBISWorld industry Report Key Topics

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 Performance

Executive Summary

Key External Drivers

Current Performance

Industry Outlook

Industry Life Cycle

Products & Markets

Supply Chain

Products & Services

Major Markets

Globalization & Trade

Business Locations

Competitive Landscape

Market Share Concentration

Key Success Factors

Cost Structure Benchmarks

Barriers to Entry

Major Companies

Operating Conditions

Capital Intensity

Key Statistics

Industry Data

Annual Change

Key Ratios

About IBISWorld Inc.

Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.







Has Your Work as an Expert Witness Been ?Peer Reviewed’?

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In the 1993 Supreme Court case “Daubert v. Merrill Dow Pharmaceuticals,” Justice Blackmun said for the unanimous court that an expert’s testimony has to rest on a reliable foundation and has to be relevant to the task at hand. He brought up the key consideration about whether the theory or technique used can be or has been tested and subjected to ‘peer review’ and publication.
Expert witnesses have seen their work rejected and their testimony excluded when they haven’t attended to Daubert standards of peer review.
Identify another specialist in your field that the court can treat as a peer. So if you are a biomedical engineer, another biomedical engineer would be a peer, and so on. Your attorney can retain this person to review your work, specifically your expert report. A peer reviewer would provide his own report of findings regarding the subject matter of your expert report. Yes, this may sound like double work, but an increasingly appropriate and valuable extra step. If another expert independently verifies the validity of your work, it will help to ensure the legal admissibility of that work. In addition, this extra step can bring extra credibility to your work. This will further support the relevancy and reliability of your work, opinion, and testimony.
The peer reviewer should submit his report directly to the law firm that engaged both of you. By and large, your attorney will submit your expert report, along with the peer reviewer’s report and a CV describing the peer reviewer’s background, training, and skills. You should not have any contact with the peer reviewer after the law firm retains him and before he submits his report back to them. Keep the points of this paragraph in mind because, from time to time, you may be hired in a case as a peer reviewer rather than as an expert witness.
Sometimes a peer review is called a third-party review, because the other party may not be a precise peer, but may still be a specialist in a related field of expertise. You should use such a third-party reviewer if part of your testimony includes information that is close to, but not specifically part of, your primary experience.

Judd Robbins has been an internationally recognized expert witness since 1986 in the US and in the UK. In 2010, his book “Expert Witness Training” was published by Presentation Dynamics. Robbins has advanced degrees from UC Berkeley and the University of Michigan, has been an Information Systems manager and an Education Systems manager, and consults in both computer and legal issues. Learn more about Mr. Robbins and his Expert Witness Training materials at www.juddrobbins.com