Industry classification or industry taxonomy is a type of
economic taxonomy An economic taxonomy is a system of classification of economic activity, including products, companies and industries. Some economists believe that the study of economic policy demands the use of a taxonomic/classificatory approach.Day, A.C.L. (1955 ...
that classifies companies, organizations and traders into industrial
groupings based on similar production processes, similar products, or similar behavior in financial markets.
National and international statistical agencies
use various industry-classification schemes to summarize economic conditions.
A financial analyst is a professional, undertaking financial analysis
Financial analysis (also referred to as financial statement analysis or accounting analysis or Analysis of finance) refers to an assessment of the viability, stability, and profi ...
s use such groupings to track common forces acting on groups of companies, to compare companies' performance to that of their peers, and to construct either specialized or diversified portfolios.
Sectors and industries
Economics () is the social science that studies how people interact with value; in particular, the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services.
can be classified in a variety of ways. At the top level, they are often classified according to the
The three-sector model in economics
Economics () is the social science that studies how people interact with value; in particular, the Production (economics), production, distribution (economics), distribution, and Consumption (econom ...
Primary or primaries may refer to:
Arts, entertainment, and media Music Groups and labels
* Primary (band), from Australia
* Primary (musician), hip hop musician and record producer from South Korea
* Primary Music, Israeli record label
(extraction and agriculture),
Secondary is an adjective meaning "second" or "second hand". It may refer to:
* Secondary (chemistry), term used in organic chemistry to classify various types of compounds
* The group of (usually at least four) defensive backs in gridiron football ...
Tertiary ( ) is a widely used but obsolete term for the geologic period
The geologic time scale (GTS) is a system of chronological dating that classifies Geology, geological strata (stratigraphy) in time. It is used by geologists, paleontology ...
(services). Some authors add
The Quaternary ( ) is the current and most recent of the three periods of the Cenozoic
The Cenozoic ( ; ) is Earth's current geological era
An era is a span of time defined for the purposes of chronology or historiography, as in the regnal ...
(knowledge) or even
Quinary (base-5 or pental) is a numeral system with 5 (number), five as the base (exponentiation), base. A possible origination of a quinary system is that there are five finger, digits on either hand.
In the quinary place system, five numerals, ...
(culture and research) sectors. Over time, the fraction of a society's activities within each sector changes.
Below the economic sectors are more detailed classifications. They commonly divide economic activities into industries according to similar functions and markets and identify businesses producing related products.
Industries can also be identified by product, such as:
Construction is a general term meaning the art and science to form Physical object, objects, systems, or organizations,"Construction" def. 1.a. 1.b. and 1.c. ''Oxford English Dictionary'' Second Edition on CD-ROM (v. 4.0) Oxford University Pre ...
The chemical industry comprises the companies
A company, abbreviated as co., is a legal entity
In law, a legal person is any person
A person (plural people or persons) is a being that has certain capacities or attributes such as reas ...
The petroleum industry, also known as the oil industry or the oil patch, includes the global processes of hydrocarbon exploration, exploration, extraction of petroleum, extraction, oil refinery, refining, Petroleum transport, transporting (often ...
The automotive industry comprises a wide range of and s involved in the , , , , and of s. It is one of the world's largest by . The automotive industry does not include industries dedicated to the of following delivery to the end-user, such ...
, electronic industry
Power engineering, also called power systems engineering, is a subfield of electrical engineering that deals with the generation, transmission, distribution, and utilization of electric power
Electric power is the rate, per unit time, at ...
and power manufacturing
(such as gas or wind turbines),
The meat packing industry handles the slaughtering, processing, packaging
Packaging is the art and technology of enclosing or protecting products for distribution, storage, sale, and use. Packaging also refers to the process of designing, eva ...
The hospitality industry is a broad industry (economics), category of fields within the service industry that includes lodging, food service, food and drinking establishment, drink service, event planning, theme parks, travel and tourism. It includ ...
The food industry is a complex, global network of diverse business
Business is the activity of making one's living or making money by producing or buying and selling products (such as goods and services). Simply put, it is "any activity ...
The fishing industry includes any industry or activity concerned with taking, culturing, processing, preserving, storing, transporting, marketing or selling fish or fish products. It is defined by the Food and Agriculture Organization
The Foo ...
The software industry includes businesses for development
Development or developing may refer to:
*Development hell, when a project is stuck in development
*Filmmaking#Development, Filmmaking, development phase, including finance and bu ...
The pulp and paper industry comprises companies that use wood
Wood is a porous and fibrous structural tissue found in the stems and roots of tree
In botany, a tree is a perennial plant with an elongated Plant stem, stem, or trunk ...
Entertainment is a form of activity that holds the attention and interest
In and , interest is payment from a or deposit-taking financial institution to a or depositor of an amount above repayment of the (that is, the amount borrowed ...
The semiconductor industry is the aggregate of companies engaged in the design
A design is a plan or specification for the construction of an object or system or for the implementation of an activity or process, or the result of that plan or ...
cultural industry A cultural industry (sometimes used synonymously with '' creative industries'')], (Meeting on the Place and Role of Cultural Industries in the Cultural Development of Societies). Montreal, QC: United Nations. . In other words, this industry is one t ...
poverty industry The terms poverty industry or poverty business refer to a wide range of money-making activities that attract a large portion of their business from the poverty, poor. Businesses in the poverty industry often include payday loan centers, pawnbroker, ...
Market may refer to:
*Marketplace, a physical marketplace or public market
*Märket, an island shared by Finland and Sweden
Art, entertainment, and media Films
*Market (1965 film), ''Market'' (1965 ...
-based classification systems such as the
Global Industry Classification Standard The Global Industry Classification Standard (GICS) is an industry taxonomy
Industry classification or industry taxonomy is a type of economic taxonomy that classifies companies, organizations and traders into Industry (economics), industrial groupi ...
Industry Classification Benchmark The Industry Classification Benchmark (ICB) is an industry classification
Industry classification or industry taxonomy is a type of economic taxonomy An economic taxonomy is a system of classification of economic activity, including products, compa ...
(ICB) and The Refinitiv Business Classification
(TRBC) are used in
Finance is a term for the management, creation, and study of money
In a 1786 James Gillray caricature, the plentiful money bags handed to King George III are contrasted with the beggar whose legs and arms were amputated, in the left corn ...
Market research is an organized effort to gather information about target markets
A target market is a group of customers within a business
Business is the activity of making one's living or making money by producing or buying and selling ...
List of classifications
A wide variety of taxonomies
is in use, sponsored by different organizations and based on different criteria.
The NAICS Index File
lists 19745 rubrics beyond the 6 digits which are not assigned codes.
Image:Economic sectors and income.JPG, 250px, Percentages of a country's economy made up by different sectors. Countries with higher levels of socio-economic development tend to have proportionally less of their economies operating in the primary a ...
* Economic industry
Product classificationProduct classification or product taxonomy is a type of economic taxonomyAn economic taxonomy is a system of classification of economic activity, including products, companies and industries. Some economists believe that the study of economic policy ...
* Bernard Guibert, Jean Laganier, and Michel Volle, "An Essay on Industrial Classifications", ''Économie et statistique'' 20 (February 1971full text