Who knows the most about the trends and developments in the expert network industry better than platform directors, associates, and team leaders? That’s precisely why we asked RightAngle Global staff to share some exclusive insights into what the year 2024 will bring and which sectors will be the most active for Expert Networks.
Humanity is undoubtedly experiencing some of the most turbulent economic times ever, with changing regulations, fierce global competition, and continually evolving consumer behavior. In an era of digitization, an abundance of data, and lightning-fast innovation, responding to new and insightful data is highly challenging for companies and experts without a plan in place to address these issues and keep their companies afloat.
This is why a growing number of business leaders are contemplating getting in touch with an Expert Network.
Did you know that:
- In 2022, the expert network sector hit a revenue of over US$2.1 billion with close to 4,500 companies using Expert Networks on a regular basis.
- Over almost a decade, the Expert Network industry has shown an 18% average growth rate, slowing down during the COVID-19 pandemic only to recover over the following year. In 2021, the industry regained momentum, registering a year-on-year increase of over 25%.
RightAngle Global Experts Insights: Navigating 2024 and Beyond
Let’s take a closer look at the changes that RightAngle Global and other expert networks might undergo in the near future. As a clue, the environment for Expert Networks is set to change and grow.
By sharing their opinion to address two questions, experts at RightAngle Global have offered a glimpse of what the future holds for the sector and which industries will be among the most active.
The two questions are:
1. “What do you think the next year holds for Expert Networks and the RightAngle Global Team?”
2. “What are the most active sectors today based on your knowledge?”
Given the continually changing landscape, combining all the insightful and experienced responses from RightAngle Global will provide a clearer picture of the future direction, challenges, and opportunities that lie ahead in this extraordinary sector.
Insights from Daniela Lungu, Director of RightAngle Global
Regarding the future outlook for expert networks and the RightAngle Global team, Daniela predicts more niche projects.
“We anticipate that 2024 will bring new challenges and opportunities for Expert Networks. On the one hand, we have noticed an increased interest in unique insights from our clients, and a greater understanding of the role that specialized knowledge plays in driving innovation and growth. This means that Expert Networks will solidify their role as mediators between clients and market professionals.”
She also expects a growing emphasis on tailor-sourced experts. This is because online resources are easily accessible and open-source portals encompass more and more information. With this in mind, the Director at RightAngle Global believes that clients will be on the lookout for insights that are not available elsewhere, including market predictions and personal perspectives on current trends.
As for the most active sectors today, Daniela comments:
“From what we’ve seen so far in the second half of 2023, we believe that the focus will remain on innovation-driven sectors such as generative AI, renewable energy, electric vehicles, healthcare software, and, overall, sustainability and digital transformation across industries.”
She expects more requests for experts from regions such as Germany, China, Turkey, Central Asia, and Southeast Asia, where we will witness serious shifts in a number of key industries, including the energy, automotive, and manufacturing sectors.
“Essentially, our scope of work remains global, but we anticipate a growing emphasis on regions that show rapid evolution and/or remain leaders in a given field,” explained Daniela.
The perspective of Giorgi Gujabidze, Senior Associate
“The market is growing steadily year by year. Expert networks are getting more exposure as clients understand how to leverage these to achieve quicker results,” says Giorgi, speaking about market expansion and trends.
As for RightAngle, he believes that it will follow the same trajectory as the market. “The current trend of the major players monopolizing Expert Network services is gradually fading as the market share is being split more evenly amongst other companies. This will enable more growth and partnerships in 2024 for RightAngle.”
When asked about the most active industries at the moment, Giorgi notes:
“The activity of sectors varies and is based on current trends. Clients may experience pressure from having to adapt to new developments and changes; this is why the assistance of Expert Networks is so essential,” he says.
“At the beginning of 2023, AI began to boom, and expert networks, including RightAngle Global, were fast to adapt and create a strong database of experts in this field to assist clients,” added Giorgi.
Insight from Sorina Magaleas, Manager, Client Solutions & Team Leader
Regarding the market trends and the future of Expert Networks, Sorina thinks it is worth focusing on two regions.
“It’s important, in my opinion, to take note of the increasingly important geographic markets, like Germany and China.”
“Germany stands out for its innovation and technological progress, particularly in sectors like construction, manufacturing, and renewable energy, while China is one of the world’s largest consumer markets and is experiencing rapid economic growth. Moreover, this country has taken serious steps to facilitate market entry,” she concludes.
The collective insights from RightAngle Global experts provide some fascinating views into what they see for the coming year and beyond. RightAngle Global is prepared to meet the challenges and take advantage of the opportunities that 2024 will surely bring, thanks to its emphasis on specialized knowledge and the ability to keep up with rapidly evolving industries such as renewable energy and generative AI to cover key geographies.
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