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Industry Research

Overview of the Industry

These are sources which will start you on your research. They may provide you with an overview of the industry and specific sources to consult.

 

Search under Industries, Plunkett Reports

Search under NAICS code or Subject and Document Type-Industry Report

Size of the Industry

This is often difficult to determine as figures from different sources may vary widely. Some suggested sources are as follows:

 

Database Searches in the following may be helpful.

News, Trends and Forecasts

  1. Where is the industry now?
  2. Where might it be in 3-6 months vs 1-5 years?
  3. Is the industry in a growth or retreat mode?

Economic Indicators

  1. What economic indicators might influence a particular industry either positively or negatively? Labor, interest rates, etc.
  2. Is the industry cyclical or non-cyclical? Does it produce durable or non-durable goods?
  3. Price of commodities/raw materials used in production. How much do they effect production and price?

Domestic vs International Markets

Some questions to research:

  1. Is the industry strong or weak domestically vs overseas competition?
  2. How is it effected by tariffs?
  3. Does the industry make most of its sales/profit domestically or overseas? What particular geographic regions of the world?

Market Share

Who are the dominant players? This is often found in industry overviews and articles. When searching databases use the industry name or SIC (Standard Industrial Classification) or North American Industrial Classification System (NAICS) codes (if the database allows) and terms such as: market share, rank, ranking, top or leaders.

Financial Information

Total Size/Sales of the Industry:

Use the databases and resources such as the S&P Industry Surveys  and Statista recommended above. 

Some things to consider:

  1. Smaller industries may be difficult to find information on.
  2. Industry Association searches may be useful in that these associations often compile statistics and publications for their members. They may not be available for free to non-members however.
  3. Industry Trade Publications-these often publish Year end, State of the Industry or similar worded issues which may be available.

Innovations/New Products/Technology

Use similar sources and strategies that you used in searches on market share. Use terms such as: new product(s), service introduction, product introduction.

Wire Services and news releases by companies themselves are often the first place where new products are announced.

Legal & Regulatory Issues

What sort of laws or regulations might effect the particular industry that you are researching? You should look at not just current laws/regulations but also pending or future regulations/court cases.

Industry Associations, Publications, Trade Shows and News

Internet Search for Organizations and Their Publications

Search as in the example below which uses the Advanced Search feature found in Google.

Trade Shows

Trade Shows can be useful in determining new products and current state of the industry. Many but not all are open to the public. Use a similar search as the one above on organizations to find shows of interest.

Industry News

Search databases mentioned previously. 

Also try the following:

 

Jim Bondra

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Jim Bondra
Contact:
607-274-1962

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