Industry Sector

An Industry Sector is a economic category for industries.

• Context:
  • It can be defined by an Industry Taxonomy, which organizes industries into groupings based on similar production processes, products, or financial market behaviors.
  • It can encompass various economic activities and businesses within a specific category.
  • It can be used for statistical analysis, economic forecasting, and business strategy development.
  • It can help understand an economy's structure and dynamics by categorizing different types of industries.
  • It can vary by region, with different countries or organizations using their own classification systems.
  • It can include sectors such as agriculture, manufacturing, services, and information, each with distinct characteristics and economic contributions.
  • It can be influenced by technological advancements, regulatory changes, and market trends.
  • It can be critical in shaping public policy, investment decisions, and economic planning.
  • It can provide a framework for comparing the performance of companies within the same sector.
  • It can facilitate the analysis of industry-specific risks and opportunities.
  • ...
• Example(s):
  • Government Sector, which includes public administration and defense activities (e.g. public services, defense industry).
  • Retail Trade, encompassing businesses that sell goods and services directly to consumers (e.g. supermarkets, e-commerce).
  • Mining Sector & Logging Sector, involved in the extraction of natural resources (e.g. coal mining, timber industry).
  • Manufacturing Sector, which covers the production of goods through industrial processes (e.g. automotive industry, electronics manufacturing).
  • Information Industry, focusing on the creation, distribution, and manipulation of information (e.g. news industry, software development).
  • Healthcare Sector, which provides medical services, research, and patient care (e.g. hospitals, pharmaceutical industry).
  • Legal Sector, which includes law practices, legal services, and legal tech (e.g. legaltech industry, law firm industry).
  • Financial Sector, encompassing banking, insurance, and investment services (e.g. commercial banks, investment firms).
  • Agricultural Sector, involving the cultivation of crops and livestock (e.g. crop farming, dairy farming).
  • Transportation Sector, which includes businesses that move goods and people (e.g. logistics companies, public transportation).
  • Energy Sector, focused on producing and distributing energy resources (e.g. oil and gas sector, renewable energy sector, battery sector).
  • ...
• Counter-Example(s):
  • A Non-Profit Sector, which focuses on activities aimed at serving the public good rather than generating profit.
  • A Household Sector, which includes private individuals and families as consumers rather than businesses or industries.
  • A Volunteer Sector, which involves unpaid work for charitable or community purposes rather than economic activities for profit.
  • A Shadow Economy, which includes unregulated and often illegal economic activities that are not classified within formal industry sectors.
  • ...
• See: International Standard Industrial Classification, United Nations Statistics Division, North American Industry Classification System, Statistical Classification of Economic Activities in The European Community, European Community, Australian And New Zealand Standard Industrial Classification, Standard Industrial Classification, Industry Classification Benchmark, FTSE Group, Global Industry Classification Standard.

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References

2014

• (Wikipedia, 2014) ⇒ http://en.wikipedia.org/wiki/Industry_classification Retrieved:2014-5-2.
  • Industry classification or industry taxonomy organizes companies into industrial groupings based on similar production processes, similar products, or similar behavior in financial markets.

    A wide variety of taxonomies is in use, sponsored by different organizations and based on different criteria. ¹The NAICS Index File lists 19745 rubrics beyond the 6 digits which are not assigned codes. Besides the widely used taxonomies above, there are also more specialized proprietary systems: * Revere Data, line-of-business, about 11,000 leaf nodes

    • IndustryBuildingBlocks, line-of-business about 15,000 leaf nodes
    • First Research taxonomy, used by Hoover's
    • WAND, Inc.'s Product and Service Taxonomy

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