A market sector represents a group of companies that share similar components, such as technologies or products.
There are 11 major stock market sectors that slice the economy into big chunks -- each home to multiple industries. An industry refers to a more specific group of companies or businesses, while a sector is considered to be a broader classification. Here's the kicker: The two terms are sometimes reversed. It is helpful to note that sectors break down the economy into a few general segments, while industries categorize them into more specific business activities.
Example: Apparel is an industry. Consumer discretionary (goods) is its market sector.
For further clarification, see the following articles:
Certain business databases such as Mergent Online, Business Source Premier and IBISWorld allow you to search for industry information by North America Industry Classification System (NAICS) or Standard Industry Classification (SIC) codes. It may be useful to write any relevant codes down as you find them when starting your research to help facilitate your search strategy.
NAICS is the standard used by Federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. business economy. It is scheduled to be reviewed every five years for potential revisions (the last time was 2022) so that the classification system can keep pace with the changing industry. See the NAICS Update Process Sheet for more information.
Use these databases to find industry and sector revenue analyses, market size/share and forecasts.
These two database tutorials (IBISWorld and Marketline) use the consumer goods market sector and the related smart home and smart appliance industries as an example of how to find industry and sector information at Rutgers.
IBISWorld is a great place to start your industry research. Here you will find market reports on smart appliances, providing a snapshot view of the industry.
Now that you know a little about the industry, you can expand your search to company and market research.
Marketline contains company, industry and market sector reports.