The Latest Determining Industry Statistics Explained
Around 63.3% of businesses use both primary and secondary data for determining industries to invest in.
The statistic states that approximately 63.3% of businesses rely on a combination of primary data, which is data obtained directly from original sources through research or surveys, and secondary data, which is data collected by someone other than the user. This mixed-method approach is utilized by businesses to make informed decisions regarding which industries to invest in. Primary data allows businesses to gather specific and targeted information that is directly relevant to their investment considerations, while secondary data provides a broader context and background information to support these decisions. By leveraging both types of data, businesses can gain a more comprehensive understanding of market trends, consumer preferences, and competitive landscapes, ultimately enhancing their investment strategies and increasing the likelihood of success.
The global online gaming sector is set to achieve an industry worth of $159 billion in 2020.
The statistic that the global online gaming sector is projected to reach an industry worth of $159 billion in 2020 signifies the significant growth and economic value of the online gaming industry. This data points towards a thriving market characterized by increasing consumer interest and engagement in online gaming platforms. The figure illustrates the immense popularity of online gaming, with a substantial revenue generation potential for businesses operating within this industry. The statistic underlines the evolving landscape of entertainment and leisure activities, with online gaming emerging as a major player in the global market with promising financial prospects.
The Big Data industry is expected to grow to $103 billion by 2027.
This statistic indicates that the Big Data industry is projected to experience significant growth over the next few years, with an expected market size of $103 billion by the year 2027. This growth is reflective of the increasing importance of data-driven decision-making in various industries, as businesses are recognizing the value of harnessing large volumes of data to gain insights and drive strategic initiatives. The expansion of the Big Data industry is likely fueled by advancements in technology, the proliferation of digital data sources, and the growing demand for analytics tools and solutions to manage and extract value from these vast datasets. Overall, this statistic signifies the ongoing trend of organizations investing in Big Data capabilities to stay competitive and drive innovation in the evolving digital landscape.
The construction industry is expected to reach $1.5 trillion by 2023 in the US.
The statistic “The construction industry is expected to reach $1.5 trillion by 2023 in the US” indicates the projected total value of construction activities within the United States by the year 2023. This figure serves as a forecast of the industry’s growth based on various economic factors, trends, and predictions. The $1.5 trillion estimate suggests a substantial level of investment and expenditure in construction projects across residential, commercial, infrastructure, and other sectors. The construction industry is a key driver of economic activity, job creation, and infrastructure development, and this statistic highlights the significant contribution it is expected to make to the overall economy in the upcoming years.
The global market for robotics is anticipated to reach $210.3 billion by 2025.
This statistic indicates that the worldwide market for robotics is forecasted to grow significantly and reach a value of $210.3 billion by the year 2025. This projection suggests a substantial increase in demand for robotics across various sectors such as manufacturing, healthcare, agriculture, and logistics, driven by advancements in technology, increasing automation in industries, and the need for efficiency and productivity improvements. The rapid growth in the robotics market reflects the increasing adoption of robotic solutions to streamline operations, enhance precision, and address labor shortages. This trend highlights the transformative impact that robotics technology is expected to have on industries globally, offering new opportunities for innovation, growth, and optimization.
The e-commerce industry is predicted to grow to $4.13 trillion in 2020.
The statistic that the e-commerce industry is predicted to grow to $4.13 trillion in 2020 indicates the anticipated total value of all online retail transactions and sales for the year. This significant growth projection reflects the increasing trend of consumers turning to online shopping for convenience, variety, and accessibility, especially in the context of the COVID-19 pandemic where many traditional brick-and-mortar businesses have had to transition to digital platforms. The forecasted growth highlights the expanding opportunities for businesses to leverage e-commerce initiatives and capitalize on the evolving consumer behaviors and preferences towards online shopping, emphasizing the importance of digital strategies and investment in technology to remain competitive in a rapidly growing industry.
With $1.5 billion in revenue, Edtech is one of the fastest-emerging industries.
The statistic “With $1.5 billion in revenue, Edtech is one of the fastest-emerging industries” indicates that the educational technology sector, often abbreviated as Edtech, has experienced significant growth and potential in terms of generating revenue. The $1.5 billion figure represents the total revenue generated by the industry, highlighting its size and economic impact. By describing Edtech as one of the fastest-emerging industries, it suggests that the sector is rapidly expanding and gaining prominence within the market. This statistic emphasizes the increasing significance and opportunities within the Edtech industry, showcasing it as a promising field for investment and innovation.
Approximately 54% of companies are in the process of re-evaluating their industry focus due to the COVID-19 pandemic.
The statistic indicates that a substantial proportion of companies, specifically around 54%, are actively considering or going through a re-evaluation of their industry focus as a direct response to the impacts of the COVID-19 pandemic. This reflects a recognition among businesses of the need to adapt and possibly pivot their strategies in order to survive and thrive in the current challenging business environment. Companies are likely reassessing their core competencies, target markets, products or services offerings, and operational practices to align with the changing landscape and emerging opportunities in the wake of the pandemic. This statistic highlights the significant and widespread impact of COVID-19 on business strategies and decision-making processes across various industries.
Only 58.9% of the automotive industry in the US is unionized.
The statistic “Only 58.9% of the automotive industry in the US is unionized” indicates that slightly less than 60% of workers in the automotive industry belong to a labor union. This suggests that the majority of workers in the industry are not part of a union, which can have implications for labor negotiations, collective bargaining, and employee rights within the industry. The unionization rate in the automotive sector can impact factors such as wages, working conditions, benefits, and overall employee satisfaction. Understanding the level of unionization in this industry is crucial for assessing the balance of power between labor and management and for analyzing the overall dynamics of the workforce in the automotive sector in the United States.
Fashion eCommerce is predicted to rise by 22% in 2021.
The statistic “Fashion eCommerce is predicted to rise by 22% in 2021” suggests that there is an expected growth of 22% in the online fashion retail sector during the year 2021. This prediction indicates a significant increase in consumer demand for purchasing fashion products online, likely driven by factors such as convenience, accessibility, and changing consumer shopping behaviors, especially in light of the COVID-19 pandemic. This growth projection highlights the strong potential for continued expansion and development within the online fashion retail industry, with companies expected to capitalize on this trend through effective marketing strategies, enhanced user experience, and innovative technologies to cater to the growing online consumer market.
The global pharmaceutical industry is expected to reach $1.5 trillion by 2023.
This statistic indicates the projected growth in the global pharmaceutical industry, with an estimated market value of $1.5 trillion by the year 2023. The forecast suggests a significant expansion in the industry, driven by factors such as increasing healthcare expenditure, a growing global population, technological advancements, and the continuous demand for innovative healthcare solutions. This growth trajectory may also be influenced by factors such as the prevalence of chronic diseases, advancements in biotechnology and personalized medicine, and an increase in healthcare R&D investments. The projected market value highlights the pharmaceutical industry’s importance in providing essential healthcare products and services on a global scale, as well as its potential impact on economic growth and healthcare outcomes worldwide.
The worldwide revenue for the music industry was $21.5 billion in 2020.
The statistic that the worldwide revenue for the music industry was $21.5 billion in 2020 indicates the total amount of money generated by various sectors within the music industry on a global scale during that year. This figure encompasses revenue streams such as music sales, streaming, live performances, licensing, and merchandise sales. It serves as a key metric to assess the financial health and growth of the industry, reflecting consumer demand for music products and services. Additionally, this statistic provides valuable insights for stakeholders in the music industry, including record labels, artists, streaming platforms, and policymakers, to make informed decisions and strategies for the future.
By 2022, the Implementable robotics market is expected to grow at a CAGR of 20.24%.
This statistic suggests that the Implementable robotics market is projected to experience significant growth in the near future. Specifically, it is forecasted to expand at a Compound Annual Growth Rate (CAGR) of 20.24% by the year 2022. This implies that the market for Implementable robotics products and services is likely to increase at a consistent rate of 20.24% annually, indicating strong potential for expansion and adoption within various industries. Such growth may be driven by factors such as technological advancements, increasing demand for automation solutions, and the integration of robotics in diverse applications to enhance efficiency and productivity.
The craft beer market share is expected to reach $502.9 billion by 2025.
The statistic ‘The craft beer market share is expected to reach $502.9 billion by 2025’ indicates the projected value of craft beer sales relative to the total beer market by the year 2025. This forecast suggests a significant growth trajectory for the craft beer industry, highlighting its increasing popularity and market demand. The anticipated market share of $502.9 billion signifies the expected revenue generated specifically from craft beer sales, indicating a substantial economic impact and consumer interest in craft beer products over the coming years. This statistic is important for industry players, investors, and policymakers to understand the evolving dynamics of the beer market and adapt their strategies accordingly to capitalize on this projected growth.
The global cyber security market size was valued at USD 156.5 billion in 2019 and is expected to expand at a CAGR of 10% from 2020 to 2027.
This statistic indicates that the global cyber security market was worth $156.5 billion in 2019 and is projected to grow at a compound annual growth rate (CAGR) of 10% from 2020 to 2027. This suggests a substantial increase in the market size over the forecast period, driven by the rising demand for cybersecurity solutions to combat evolving cyber threats and protect digital assets. The consistent growth rate of 10% signifies a robust expansion potential in the industry, highlighting the importance of cybersecurity in the increasingly digitized world. Organizations are expected to continue investing in cybersecurity measures to safeguard their systems, data, and networks, thereby driving the market growth in the coming years.
The film industry is forecasted to lose $5 billion in revenue as a result of the COVID-19 pandemic.
The statistic indicates that the film industry is projected to experience a significant financial impact due to the COVID-19 pandemic, with an estimated revenue loss of $5 billion. This loss of revenue is attributed to various factors related to the pandemic, such as lockdowns, social distancing measures, and the closure of cinemas and production delays. The reduction in consumer spending, changes in viewing habits, and uncertainty surrounding the reopening of theaters have further contributed to the industry’s forecasted financial losses. The $5 billion revenue loss serves as a reflection of the challenges that the film industry faces in navigating the ongoing effects of the pandemic and highlights the need for strategic adaptations and resilience in the face of uncertainty.
The global cosmetics industry is expected to reach $438.38 billion by 2026.
The statistic, “The global cosmetics industry is expected to reach $438.38 billion by 2026,” indicates the projected total value of the cosmetics market worldwide by the year 2026. This figure suggests significant growth and a thriving industry, reflecting consumers’ increasing interest in beauty and personal care products. The forecasted value of $438.38 billion signifies the potential market size that companies within the cosmetics industry can tap into, highlighting opportunities for innovation, competition, and market expansion in the coming years as consumers continue to prioritize self-care and grooming products.
References
0. – https://www.www.statista.com
1. – https://www.www.hollywoodreporter.com
2. – https://www.www.forbes.com
3. – https://www.techjury.net
4. – https://www.www.globenewswire.com
5. – https://www.www.mckinsey.com
6. – https://www.www.shopify.com
7. – https://www.www.grandviewresearch.com
