1
a
: manufacturing activity as a whole
b
: a distinct group of productive or profit-making enterprises
c
: a department or branch of a craft, art, business, or manufacture
especially
: one that employs a large personnel and capital especially in manufacturing
d
: systematic labor especially for some useful purpose or the creation of something of value
2
: diligence in an employment or pursuit
especially
: steady or habitual effort
3
: work devoted to the study of a particular subject or author
Synonyms
Choose the Right Synonym for industry
business, commerce, trade, industry, traffic mean activity concerned with the supplying and distribution of commodities.
business may be an inclusive term but specifically designates the activities of those engaged in the purchase or sale of commodities or in related financial transactions.
commerce and trade imply the exchange and transportation of commodities.
industry applies to the producing of commodities, especially by manufacturing or processing, usually on a large scale.
traffic applies to the operation and functioning of public carriers of goods and persons.
Example Sentences
He favors policies that promote industry.
She invested in several large industries.
She became so popular that a whole industry grew up around her and her image.
Recent Examples on the Web
In 2021, 58 workers died in the oil and gas industries, according US Bureau of Labor Statistics.
—
Elizabeth Weise, USA TODAY, 8 Apr. 2023
Black workers historically have suffered disproportionately during recessions and economic downturns because a larger share of them work in lower wage industries more prone to layoffs.
—Lauren Kaori Gurley, Abha Bhattarai And Naomi Nix, Anchorage Daily News, 8 Apr. 2023
Black workers historically have suffered disproportionately during recessions and economic downturns because a larger share of them work in lower wage industries more prone to layoffs.
—Naomi Nix, Washington Post, 7 Apr. 2023
But after posting record profits in 2022, Exxon is flush with cash and, according to people familiar with the company’s plans, has been exploring options that could reshape a swath of the U.S. oil-and-gas industry while pushing Exxon deeper into West Texas shale.
—Collin Eaton, wsj.com, 7 Apr. 2023
In March, the Bermuda International Film Festival attracts some of the shining stars of the film industry.
—Skye Sherman, Travel + Leisure, 7 Apr. 2023
Not to mention the inherent unpredictability of an industry evolving at warp speed.
—Lucy Brewster, Fortune, 7 Apr. 2023
But automobile manufacturing is one of the nation’s most important industries, and a rapid switch to electric vehicles, which require less labor to manufacture, has the potential to displace thousands of auto workers, an important constituency for Mr. Biden.
—Coral Davenport, New York Times, 7 Apr. 2023
Another category—professional and business services—includes a variety of industries ranging from janitorial services to lawyers.
—David Harrison, WSJ, 7 Apr. 2023
See More
These examples are programmatically compiled from various online sources to illustrate current usage of the word ‘industry.’ Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.
Word History
Etymology
Middle English (Scots) industrie, from Middle French, from Latin industria, from industrius diligent, from Old Latin indostruus, perhaps from indu in + -struus (akin to Latin struere to build) — more at end-, strew
First Known Use
15th century, in the meaning defined at sense 2
Time Traveler
The first known use of industry was
in the 15th century
Dictionary Entries Near industry
Cite this Entry
“Industry.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/industry. Accessed 14 Apr. 2023.
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10 Apr 2023
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From Wikipedia, the free encyclopedia
Look up industry in Wiktionary, the free dictionary.
Industry may refer to:
Economics[edit]
- Industry (economics), a generally categorized branch of economic activity
- Industry (manufacturing), a specific branch of economic activity, typically in factories with machinery
- The wider industrial sector of an economy, including manufacturing and production of other intermediate or final goods
- The general characteristics and production methods common to an industrial society
- Industrialization, the transformation into an industrial society
- Industry classification, a classification of economic organizations and activities
Places[edit]
- Industry, Alabama
- Industry, California
- Industry station
- Industry, Illinois
- Industry, Kansas
- Industry, Maine
- Industry, Missouri
- Industry, New York
- Industry, Pennsylvania
- Industry, Texas
- Industry Bar, a New York City gay bar
- Industry-Rock Falls Township, Phelps County, Nebraska
Film and television[edit]
- Made in Canada (TV series), a Canadian situation comedy series also known as The Industry in foreign syndication
- Industry (TV series), a British drama series on BBC Two and HBO
Music[edit]
- Industry (American band), a 1980s synth-pop band
- Industry (Irish band), Irish band (2009–2010)
- Industry (Dom & Roland album)
- Industry (Richard Thompson and Danny Thompson album), 1997
- Industry (EP), an EP by Jon McLaughlin
Other[edit]
- Industry (archaeology), a typological classification of stone tools
See also[edit]
- Industrial (disambiguation)
- Industria (disambiguation)
What Is an Industry?
An industry is a group of companies that are related based on their primary business activities. In modern economies, there are dozens of industry classifications. Industry classifications are typically grouped into larger categories called sectors.
Individual companies are generally classified into an industry based on their largest sources of revenue. For example, while an automobile manufacturer might have a financing division that contributes 10% to the firm’s overall revenues, the company would be classified in the automaker industry by most classification systems.
Key Takeaways
- Similar companies are grouped together into industries, and there are a number of different industries, such as department stores and shoemakers.
- Industry grouping is based on the primary product that a company makes or sells. Meanwhile, industries are grouped together into sectors.
- The North American Industry Classification System is the standard classification system used by government agencies to organize companies into sectors or industries.
- Alternatively, the Global Industry Classification Standard assigned every company an economic sector and industry group.
- Companies within a similar industry will often perform similarly due to macroeconomic conditions helping or hurting all companies the same across the industry.
Industry
Understanding an Industry
Similar businesses are grouped into industries based on the primary product produced or sold. This effectively creates industry groups, which can then be used to isolate businesses from those who participate in different activities. Investors and economists often study industries to better understand the factors and limitations of corporate profit growth. Companies operating in the same industry can also be compared to each other to evaluate the relative attractiveness of a company within that industry.
Stocks of companies operating within the same industry tend to have similar stock price movements. This is due to call companies within a given industry facing the same headwinds, challenges, and broad triumphs.
Special Considerations
Stocks within the same industry often rise and fall as a group because the same macroeconomic factors impact all members of an industry. These macroeconomic factors can include changes in market sentiment on the part of investors—such as those based on a response to a particular event or piece of news—as well as changes directed specifically towards the specific industry, such as new regulations or increased raw material costs.
However, events relating to just one particular business can cause the associated stock to rise or fall separately from others within the same industry. This can be the result of certain events, including a differentiating product release, a corporate scandal in the news, or a change in leadership structures.
Industries vs. Sectors
While both sectors and industries are classification systems used to group similar types of business operations, sectors are broader than industries.
For example, retail trade is a sector within the North American Industry Classification System (NAICS), and within that sector are industries, such as health and personal care stores, clothing stores, and shoe stores. Rite Aid Corporation and Gap, Inc. are members of the same consumer goods sector, but each would be listed in a different industry based on the specifics of the products they produce or sell. Rite Aid Corporation is classified within the health and personal care stores (NAICS Code 44610), while Gap, Inc. is classified within both the clothing stores industry (NAICS Code 448130) and clothing accessories industry (NAICS 448150).
It’s important to note that a single company can reside in two different industries or two different sectors. In addition to being within the consumer goods sector, Rite Aid is considered part of the personal services sector as well within the photofinishing laboratories industry. Because they develop photographs in addition to selling consumer goods, they are assigned multiple NAICS codes (NAICS Code 812921 for their photo department).
The North American Industry Classification System (NAICS), developed by the United States, Canada, and Mexico, is the standard upon which government agencies classify businesses when compiling statistical data. In the NAICS hierarchy, companies that use similar production processes are categorized in the same industry.
The NAICS is reviewed and revised every five years, and the latest edition was released in 2022. This latest edition of industry codes best reflects company classifications, especially in industries that have undergone large changes since 2017.
Global Industry Classification Standard (GICS)
The Global Industry Classification Standard (GICS) is also a commonly referenced classification system. GICS assigns every public company to an economic sector and industry group that best defines its business. The GICS was developed jointly by Morgan Stanley Capital International (MSCI) and Standard & Poor’s (S&P) in 1999. It was created to be an efficient investment tool to capture the breadth, depth, and evolution of industry sectors. The GICS methodology is used by the MSCI indexes, investors, analysts, and economists to compare and contrast competing companies.
The GICS is a four-tiered, hierarchical industry classification system. According to the GICS hierarchy, there are 11 economic sectors. These sectors are further divided into 24 industry groups, 69 industries, and 158 sub-industries. Each stock has a code to identify it at all four of these levels. For example, «materials» is an economic sector. Within materials, there are different industries: chemicals, construction materials, containers & packaging, metals & mining, and paper and forest products.
What Is an Example of an Industry?
The NAICS classified ‘Finance and Insurance’ as its own top-level sector. Within this sector, there are a variety of groups such as credit intermediaries, financial investment companies, insurance carriers, funds, trusts, and other financial vehicles. A specific NAICS industry is Commercial Banking, and it is assigned its own classification code (522110).
What Is the Difference Between an Industry and a Sector?
A sector is often a more broad term than industry. In the example above, the sector for both companies was the consumer goods sector. However, this sector can be broken into many different consumables such as clothes or personal health. Therefore, sectors are often further divided into industries that further group similar companies based on an even lower level of detail regarding their products and operations.
What Is the Difference Between an Industry and a Business?
An industry is a more broad term than often compasses multiple businesses. A single business can operate in any industry. When a collection of individual businesses operate in a similar manner and produce similar output, they may be grouped together and classified within the same industry.
How Many Different Industries Are There?
Different classification systems will group and report industries differently. The NAICS has historically grouped companies into roughly 20 sectors, roughly 100 subsectors, and over 1,000 six-digit NAICS industry codes.
Other forms: industries
An industry is a group of manufacturers or businesses that produce a particular kind of goods or services. Workers in the textile industry design, fabricate, and sell cloth. The tourist industry includes all the commercial aspects of tourism.
You can use industry to refer to a group of similar businesses: The automobile industry makes cars and car parts. The food service industry prepares food and delivers it to hotels, schools, and other big facilities. Industry comes from the Latin industria, which means «diligence, hard work,» and the word is still used with that meaning. If you build a house in three weeks, when the same job takes everyone else three months, you’re showing impressive industry.
Definitions of industry
-
noun
the organized action of making of goods and services for sale
“American
industry is making increased use of computers to control production”-
synonyms:
manufacture
-
noun
the people or companies engaged in a particular kind of commercial enterprise
“each
industry has its own trade publications”see moresee less-
types:
- show 39 types…
- hide 39 types…
-
aluminum business, aluminum industry
manufacturers of aluminum considered as a group
-
apparel industry, fashion business, fashion industry, garment industry, rag trade
makers and sellers of fashionable clothing
-
banking industry, banking system
banks collectively
-
automobile industry
the manufacturers of automobiles considered collectively
-
aviation
the operation of aircraft to provide transportation
-
chemical industry
the manufacturers of chemicals considered collectively
-
coal industry
the producers of coal considered collectively
-
computer industry
the manufacturers of computers considered collectively
-
construction industry, housing industry
an industry that builds housing
-
electronics industry
the manufacturers of electronic products considered collectively
-
entertainment industry, show biz, show business
those involved in providing entertainment: radio and television and films and theater
-
film industry, movie industry
the entertainment industries involved in producing and distributing movies
-
growth industry
an industry that is growing rapidly
-
lighting industry
an industry devoted to manufacturing and selling and installing lighting
-
arms industry, munitions industry
an industry that manufacturers weapons of war
-
oil business, oil industry, refining industry
an industry that produces and delivers oil and oil products
-
plastics industry
an industry that manufactures plastic articles
-
market, securities industry
the securities markets in the aggregate
-
service industry
an industry that provides services rather than tangible objects
-
shipbuilding industry
an industry that builds ships
-
shoe industry
an industry that manufactures and sells shoes
-
sign industry
an industry that produces signs
-
steel industry
the industry that makes steel and steel products
-
sunrise industry
a new industry that is expanding rapidly (especially telecommunications or electronics)
-
tobacco industry
an industry that manufactures and sells products containing tobacco
-
toy business, toy industry
an industry that manufactures and sells toys for children
-
trucking industry
an industry that provides transportation for commercial products
-
aerospace
the industry related to space flight and aviation
-
Bollywood
the film industry of India
-
filmdom, screen, screenland
the personnel of the film industry
-
Hollywood
the film industry of the United States
-
bear market
a market characterized by falling prices for securities
-
bull market
a market characterized by rising prices for securities
-
the City
used to allude to the securities industry of Great Britain
-
Wall Street, the Street
used to allude to the securities industry of the United States
-
money market
a market for short-term debt instruments
-
management consulting
a service industry that provides advice to those in charge of running a business
-
FCS, Farm Credit System
a cooperative nationwide system of banks and associations providing credit to farmers and related businesses; originally capitalized by the federal government but now owned by its members and borrowers
-
hawala
an underground banking system based on trust whereby money can be made available internationally without actually moving it or leaving a record of the transaction
-
type of:
-
commercial enterprise
an enterprise connected with commerce
-
noun
persevering determination to perform a task
“frugality and
industry are still regarded as virtues”-
synonyms:
diligence, industriousness
DISCLAIMER: These example sentences appear in various news sources and books to reflect the usage of the word ‘industry’.
Views expressed in the examples do not represent the opinion of Vocabulary.com or its editors.
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