The size of various industies vary by country, level of development, and demand in each region. This section of EconomyWatch.com introduces all the major industries and classification systems, together with key industry data.
Industries can be categorized in the following ways:
Offering Based Industry Classification
Production Based Industry Classification
Primary Industry: The agricultural, farming and fisheries businesses come under this head.
Secondary Industry: The industries that utilize machines, factories or human labor to convert raw materials into a processed final product. The manufacturing industries, or heavy industry, are typical examples of Secondary Industry types.
Tertiary Industry: Services-based industries are known as tertiary industries. Retail, food & beverage and professional services are examples of Tertiary Industry
Is the industry a small-scale or cottage indutry, a Small & Medium Business (SMB or SME) industry, or a global industry dominated by Multi-National Corporations (MNCs)?
Target Market Classification
Is the industry export-oriented and international, or domestic market focused?
Is the market fragmented, with many small 'mom and pop' businesses, or is it consolidated, with rounds of mergers and acquisitions leading to a few dominant players?
The financial, banking and insurance industries, underpin all other world industries, as we have seen during the Financial Crisis. As a result, they deserve special focus.
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