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Type of Industries In Business
Starting a business or running a business is a highly rewarding experience for many entrepreneurs.
Have you ever wondered what are the different industries out there?
What is the nature of your business?
It’s important to know in which industry you’re looking to start a business or your business operates so you can make better decisions going forward.
By knowing your industry better, you’ll be able to better identify your competitors, know how to approach investors, how to get financing, what type of people to hire, and how you can succeed.
In business, the industry refers to a group of companies that are related based on their primary business activity.
Industry classifications can also be grouped together into broader categories called sectors.
To help you identify your industry, I’ve put together a list of different industries that are commonly found in the business world.
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68 Type of Industries In Business
- Aerospace industry
- Agricultural industry
- Automotive industry
- Basic metal industry
- Chemical industry
- Computer industry
- Construction industry
- Creative industry
- Cultural industry
- Defense industry
- Education industry
- Electric power industry
- Electronics industry
- Energy industry
- Engineering industry
- Entertainment industry
- Farming industry
- Fashion industry
- Film industry
- Financial services industry
- Fishing industry
- Food industry
- Forestry industry
- Gambling industry
- Gas industry
- Green industry
- Health services industry
- Hospitality industry
- Hotels industry
- Industrial robot industry
- Information industry
- Information technology industry
- Infrastructure industry
- Insurance industry
- Leisure industry
- Low technology industry
- Manufacturing industry
- Meat industry
- Media industry
- Merchandising industry
- Mining industry
- Music industry
- News media industry
- Oil and gas industry
- Pharmaceutical industry
- Professional industry
- Publishing industry
- Pulp and paper industry
- Railway industry
- Real estate industry
- Retail industry
- Scientific industry
- Services industry
- Sex industry
- Software industry
- Space industry
- Sport industry
- Steel industry
- Technology industry
- Telecommunications industry
- Textile industry
- Tobacco industry
- Transport industry
- Utility industry
- Video game industry
- Water industry
- Wholesale industry
- Wood industry
NAICS Types of Industries
The North American Industry Classification System, or NAICS, is a formal classification of businesses and governments used to measure economic activity in the United States, Canada, and Mexico.
The NAICS code is self-assigned which means that every business will select the code that best classifies your business.
According to the North American Industry Classification System, you have the following business sectors:
- Agriculture, forestry, fishing, and hunting
- Mining, quarrying, and oil and gas extraction
- Utilities
- Construction
- Manufacturing
- Wholesale trade
- Retail trade
- Transportation and warehousing
- Information and cultural industries
- Finance and insurance
- Real estate and rental and leasing
- Professional, scientific and technical services
- Management of companies and enterprises
- Administrative and support, waste management, and remediation services
- Educational services
- Health care and social assistance
- Arts, entertainment, and recreation
- Accommodation and food services
- Other services (except public administration)
- Public administration
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ILO’s Types of Industries
The International Labour Organization considered the following as different types of industries:
- Agriculture; plantations; other rural sectors
- Basic Metal Production
- Chemical industries
- Commerce
- Construction
- Education
- Financial services; professional services
- Food; drink; tobacco
- Forestry; wood; pulp and paper
- Health services
- Hotels; tourism; catering
- Mining (coal; other mining)
- Mechanical and electrical engineering
- Media; culture; graphical
- Oil and gas production; oil refining
- Postal and telecommunications services
- Public service
- Shipping; ports; fisheries; inland waterways
- Textiles; clothing; leather; footwear
- Transport (including civil aviation; railways; road transport)
- Transport equipment manufacturing
- Utilities (water; gas; electricity)
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Takeaways
So there you have it folks!
What are the different types of industries in business?
An “industry” refers to similar businesses having a similar nature of business.
Typically, companies operating in the same industry can be competitors, have similar business operations, and produce similar goods and services.
Knowing the different types of industries can better help you identify your competitors and business model.
You can also compare your business to that of similar businesses in your industry to see how you compare.
Now that you know the different types of industries out there, good luck with your research!
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