Industry refers to a group or sector of businesses and enterprises engaged in the production of goods or the provision of services, often classified by the type of economic activity they perform. It typically involves manufacturing, extraction of raw materials, or commercial activities within a particular field or market segment. For example, the automobile industry includes companies that manufacture and sell cars, while the tourism industry encompasses businesses related to travel and hospitality
. Industries are often categorized into broader sectors based on their primary activities, such as manufacturing, mining, construction, or services. This classification helps organize economic activities and allows investors, economists, and policymakers to analyze and compare business operations within specific fields
. In summary, an industry is:
- A collection of businesses or manufacturers producing similar goods or services.
- A sector of the economy focused on specific types of production or services.
- A classification used to group companies with related business activities for economic and investment analysis
The term also historically relates to diligence and hard work, reflecting the effort involved in productive enterprises
