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.
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.
Rutgers is an equal access/equal opportunity institution. Individuals with disabilities are encouraged to direct suggestions, comments, or complaints concerning any accessibility issues with Rutgers websites to firstname.lastname@example.org or complete the Report Accessibility Barrier / Provide Feedback form.