Operators in the Trial Consultants industry are used primarily by law firms to help in various ways, including expert-witness consulting, jury consulting, arbitration and mediation. Over the five years to 2019, demand for trial consultants has increased steadily as legal activity and corporate profit have both expanded. As law firms have become more profitable due to increased caseloads, they have increasingly gone to industry operators for assistance. However, the industry is highly fragmented and competitive, which has led to increased price-based competition. As a result, industry profit has declined over the past five years. Despite profit declines, industry revenue has increased over the past five years. Over the five years to 2024, industry revenue is projected to continue increasing. Anticipated increases in corporate profit and an influx of new laws and regulations will likely aid revenue growth for law firms during the outlook period.
Companies in this industry primarily offer services for lawyers in the field of legal trial psychology. Trial consultants provide services through all stages of a court case, including juror selection, trial simulation, testimony organization and witness testimony preparation. While no special training is required to participate in this industry, trial consultants frequently possess advanced degrees in psychology, sociology or criminology.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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