1 Global Expert Networks Market Insight Analysis
The global expert networks market is valued at USD 3,332.77 million in 2024, with a CAGR of 15.73% from 2024 to 2033.
Expert Networks are platforms that connect clients with industry experts to provide specialized insights and knowledge. These networks serve as intermediaries, facilitating consultations and advisory services for businesses, investors, and consulting firms. The experts within these networks offer their market expertise, industry knowledge, and strategic advice to help clients make informed decisions. The services provided by Expert Networks are crucial in sectors where access to specialized knowledge can significantly impact business strategies and outcomes.
Figure Global Expert Networks Market Size (M USD) and CAGR (2024-2033)
2 Expert Networks Market Growth Drivers and Restraints
From the perspective of driving factors, first of all, the growth in demand for information acquisition is a key factor. With the popularity of online work and the rapid development of technology, various industries have an increasingly urgent need for market and industry internal information. Expert networks can provide professional insights beyond conventional research, directly answer customers’ specific questions, and greatly simplify and accelerate the research process.
In the investment field, the expansion of private equity assets has prompted related companies and consultants to increase transaction analysis spending and use expert networks to understand new markets; market researchers are also dissatisfied with the quality of ordinary B2C samples and turn their attention to expert networks to obtain more valuable B2B respondent information.
Secondly, the increase in the number of freelancers provides a rich human resource for the expert network market. Globally, more and more people choose to work from home and engage in freelance work. Taking the United States as an example, there were more than 59 million freelancers in 2020, and this number is expected to increase significantly by 2028. Freelancers can more easily connect with demanders and provide professional services through expert networks, which not only optimizes their workflow, but also helps expand the market share of expert networks.
However, the development of the expert network market is also affected by some limiting factors. Among them, high labor costs are a prominent problem. Traditional expert networks rely on manual operations when looking for experts, which consumes a lot of resources and manpower. For example, GLG employs more than 2,000 people to handle customer requests and match experts. At the same time, the forms of expert services continue to expand, but the business volume has declined. Some companies reduce expert fees to control costs, and the requirements are not clear when inviting experts to participate in projects. This will affect the quality of service in the long run and hinder the development of the industry.
In addition, insufficient confidentiality is also an important limiting factor. Many large customers will cooperate with multiple expert networks to obtain a wide range of expert resources, but this faces high administrative costs and poor market transparency. Strict privacy regulations have an impact on the storage and sharing of expert data. The use of multiple networks may also lead to project data leakage, which is contrary to personal data protection regulations, thereby damaging corporate reputation and industry quality, and is not conducive to the long-term development of the market.
3 Technological Innovations in the Expert Networks Market
In terms of technological innovation, the expert network industry is actively investing in new technology research and development to improve service quality and efficiency. On the one hand, natural language processing and machine learning technologies are widely used in the expert procurement process. For example, emerging companies such as Prosapient and NewtonX use these technologies to optimize the screening and matching of expert resources, improving the fit between experts and customer needs. On the other hand, knowledge graph technology has also been applied. AlphaSights has achieved a closer and smarter connection of expert resources by inputting data into the ever-expanding knowledge graph, providing customers with more accurate services.
At the same time, the transcription text business has also become an important direction of technological innovation. Transcription services not only allow customers to focus more on communicating with experts, but also protect and share knowledge. Third Bridge took the lead in establishing a transcription library, and companies such as Guidepoint followed suit. Tegus has built a business model around the transcription business, and most of its revenue comes from transcription subscriptions. In addition, advanced transcription technology can prevent malware intrusion, ensure user information security, and enhance customer trust in expert network services.
In terms of corporate mergers and acquisitions, many important events have occurred in the industry, promoting market integration and development. In 2021, Japan’s VisasQ acquired the US-based Coleman Research Group, an acquisition that enabled Coleman’s clients to access VisasQ’s network of 160,000 experts in the Asia-Pacific region, complementing each other’s resources. The merged entity also expanded its service offerings by providing 24×7 support from seven locations in North America, Europe, the Middle East and Africa, and Asia-Pacific.
In 2022, Tegus acquired Canalyst, a move designed to create a new industry standard for investment research. Tegus already serves more than 2,500 investment firms, companies, and consulting firms around the world, and has a wealth of expert interview and transcription data. Canalyst’s data resources, combined with Tegus, will help investors and companies integrate research and due diligence processes and improve decision-making efficiency.
4 Global Expert Networks Market Size by Type
Transaction-based services are characterized by clients paying for expert consultations on a per-hour or per-consultation basis. This model offers flexibility, allowing clients to engage with experts without long-term commitments. In 2024, the Transaction-based segment is expected to generate a revenue of USD 1,084.01 million, accounting for approximately 32.53% of the total market share. This type is particularly popular among clients who require occasional or ad-hoc expert advice, such as investment firms conducting due diligence or consulting firms seeking specific industry insights.
Subscription-based services, on the other hand, involve clients paying annual or monthly fees to access a pool of expert consultations. This model provides clients with a more structured and cost-effective approach to accessing expert knowledge. In 2024, the Subscription-based segment is projected to achieve a revenue of USD 2,248.76 million, representing 67.47% of the total market share. Subscription-based services are preferred by clients who require frequent access to expert insights, such as private equity firms, consulting firms, and large corporations that rely on continuous market intelligence to inform their strategic decisions.
Table Global Expert Networks Market Size and Share by Type in 2024
Type | Market Size (M USD) 2024 | Market Share 2024 |
|---|---|---|
Transaction-based | 1084.01 | 32.53% |
Subscription-based | 2248.76 | 67.47% |
5 Global Expert Networks Market Size by Application
Private equity firms are significant users of expert networks, leveraging these services to conduct due diligence, assess market trends, and gain strategic insights. In 2024, the Private Equity segment is expected to generate a revenue of USD 990.12 million, accounting for approximately 29.71% of the total market share. This segment is driven by the increasing complexity of investment decisions and the need for specialized knowledge to identify lucrative opportunities.
Consulting firms also rely heavily on expert networks to provide their clients with in-depth market analysis and strategic advice. In 2024, the Consulting Firms segment is projected to achieve a revenue of USD 1,016.12 million, representing 30.49% of the total market share. This segment benefits from the flexibility and expertise offered by expert networks, allowing consultants to deliver high-quality, data-driven solutions to their clients.
Public equity investors use expert networks to gain insights into market trends, company performance, and industry developments. In 2024, the Public Equity segment is expected to generate a revenue of USD 1,027.50 million, accounting for 30.83% of the total market share. This segment is driven by the need for timely and accurate information to make informed investment decisions in a highly competitive market.
Table Global Expert Networks Market Size and Share by Application in 2024
Application | Market Size (M USD) 2024 | Market Share 2024 |
|---|---|---|
Private Equity | 990.12 | 29.71% |
Consulting Firm | 1016.12 | 30.49% |
Public Equity | 1027.50 | 30.83% |
Others | 299.03 | 8.97% |
6 Global Expert Networks Market Size by Region
United States: The United States is the largest market for expert networks, with an expected revenue of around USD 1408.25 million in 2024, accounting for a market share of approximately 42.26%. The country’s mature economy, strong financial sector, and high demand for business intelligence drive the growth of the expert networks market. The presence of a large number of investment firms, consulting companies, and corporations in the United States creates a significant demand for expert insights.
Europe: Europe is the second-largest market, with an expected revenue of around USD 1034.70 million in 2024, representing a market share of around 31.05%. The region’s growing economy, increasing investment in research and development, and the presence of many multinational companies contribute to the market’s growth. Additionally, advancements in IT infrastructure and the expansion of the workforce in the region have facilitated the adoption of expert network services.
China: China is one of the fastest-growing markets, with an expected revenue of around USD 293.29 million in 2024, accounting for a market share of around 8.80%. The country’s rapid economic growth, increasing demand for professional services, and the development of the financial and consulting industries are driving the growth of the expert networks market. As China continues to open up its economy and integrate into the global market, the demand for expert insights is likely to increase further.
Japan: Japan is expected to generate revenue of around USD 188.16 million in 2024, with a market share of around 5.64%. The country’s large economy, strong manufacturing sector, and the need for companies to stay competitive in the global market contribute to the demand for expert networks. Japanese companies are increasingly turning to expert networks to gain insights into new technologies, market trends, and international business opportunities.
India: India is also a rapidly growing market, with an expected revenue of around USD 83.39 million in 2024, representing a market share of around 2.51%. The country’s large population, growing economy, and the emergence of a vibrant startup ecosystem are driving the demand for expert network services. Indian companies are looking to leverage expert insights to make informed business decisions and gain a competitive edge.
Southeast Asia: Southeast Asia is expected to have a revenue of around USD 49.87 million in 2024, accounting for a market share of around 1.49%. The region’s growing economies, increasing investment in various sectors, and the development of the digital economy are contributing to the growth of the expert networks market. Southeast Asian countries are attracting more foreign investment, and companies in the region are seeking expert advice to navigate the complex business environment.
Latin America: Latin America is projected to generate revenue of around USD 107.88 million in 2024, with a market share of around 3.24%. The region’s proximity to the United States, growing wireless technology, and advancements in cloud, IoT, and artificial intelligence are driving the growth of the expert networks market. Latin American companies are increasingly relying on expert networks to gain insights into international markets and improve their business operations.
Middle East and Africa: The Middle East and Africa region is expected to contribute revenue of around USD 76.22 million in 2024, representing a market share of around 2.29%. The region’s large oil reserves, growing economies, and the need for companies to diversify their business operations are driving the demand for expert network services. Additionally, the increasing focus on innovation and the development of the knowledge economy in the region are creating opportunities for expert networks.
Figure Global Expert Networks Market Size (M USD) by Region in 2024
7 Global Expert Networks Market Analysis by Major Players
Gerson Lehrman Group (GLG)
Company Introduction and Business Overview:
Gerson Lehrman Group (GLG) is the world’s largest expert network, established in 1998 and headquartered in New York City. GLG connects clients with a vast network of over one million freelance consultants, including asset managers, investors, physicians, scientists, and former government officials. The company serves a diverse range of clients, including strategy consulting firms, hedge funds, private equity firms, and non-profit organizations.
GLG provides financial information and advisory services to investors and consultants, leveraging its extensive network of experts to offer unparalleled insights. The company’s Trusted Environment framework ensures compliance and integrity, fostering client confidence. GLG’s global reach and comprehensive services make it a leading player in the expert networks industry.
Products:
GLG offers a wide range of products and services, including expert consultations, market research, and strategic advice. Its platform allows clients to access real-time insights from industry experts, facilitating informed decision-making. In 2023, GLG’s revenue reached USD 785.62 million, solidifying its position as the market leader.
AlphaSights
Company Introduction and Business Overview:
AlphaSights, founded in 2008 and headquartered in London, is a global leader in on-demand knowledge services. The company specializes in connecting investment and business leaders with industry professionals to provide informed perspectives and strategic insights.
AlphaSights’ business model focuses on delivering highly targeted and relevant expert consultations. The company uses a bespoke search process to source and qualify industry professionals based on clients’ specific needs, ensuring high-quality interactions. AlphaSights’ commitment to excellence and its focus on the European market have contributed to its rapid growth.
Products:
AlphaSights offers a variety of products, including expert consultations, market research, and strategic advice. Its services are designed to help clients make superior investment and business decisions by providing access to real-time industry insights. In 2023, AlphaSights achieved a revenue of USD 488.61 million, reflecting its strong market position and continued growth.
Third Bridge
Company Introduction and Business Overview:
Third Bridge, established in 2007, is a leading global investment research firm with a presence in North America, Europe, and Asia. The company employs over 1,000 professionals across eight offices and specializes in generating interview content and connecting experts with investors.
Third Bridge’s primary activities focus on providing unique, human-led insights to hedge funds, mutual funds, private equity funds, and management consultancies. The firm conducts thousands of consultations and interviews weekly, offering clients valuable viewpoints on global companies and markets. Third Bridge’s commitment to high-quality research and its global network of experts have made it a trusted partner for many leading financial institutions.
Products:
Third Bridge offers a range of products and services, including expert consultations, market research, and investment insights. Its platform provides clients with access to detailed and relevant information, helping them make informed investment decisions. In 2023, Third Bridge’s revenue reached USD 370.20 million, highlighting its significant market share and influence in the expert networks industry.