Everything we see around belongs to some or the other industry that once started out as an experiment and is now amongst the mainstream businesses across the globe. What we usually refer to as a product, is a part of an entire ecosystem.
Precisely, it is these industries that have been a major influence in bringing the world where it is today. The trade within a country and internationally is based on these industries. Here is a list of the top 10 biggest industries in the world.
- Sales
The list certainly starts with sales. This is the industry that is behind the success of each and every business. Be it services or products, the skill to sell is the first and foremost thing for a business owner to have. The process is simple and the only thing needed to convert a lead into a sale is conviction. A sales executive who can make the customer realize the need of the product/service being sold is the best asset to any company. - Manufacturing
The process of taking raw materials and converting them into finished products that solve a purpose and appeal to the audiences is called manufacturing. According to Wikipedia, the total value of manufacturing for the world in 2014, as disclosed by World Bank was $12,578,627 million. The manufacturing industry runs on the demand and supply economics that decides the growth of the products, and in turn of the markets. - Finance
The world runs around money and people are always looking for an opportunity to invest their money in assets that will give a high return. One of the most searched terms on Google, ‘what is finance management’ is in itself the proof of how big the industry is. Along with the stock market being an investment destination, numerous companies and banks have investment plans that are lucrative and provide numerous benefits to the investors. The trade runs in three major categories namely public, corporate and personal. - Advertising
Creating a world-class product or service is one thing, but what natters even more is the advertising. A great product lying on the shelf with no market is equivalent to dirt. There are multiple types of advertising that one can opt for. Newspaper, magazine, radio, television, outdoor and online, the latest one changing the dynamics of the market. The market is expected to grow at the rate of 17.4 CAGR and reach $328.1 billion by 2024. - Transport
The world is running, literally! Transport is one of the industries that is backing up each and every sector. Also, it is taking people places. Air, railroad, water, land, cable, pipeline and space are all making equal contributions to take the world on the path to progress. According to Economic Times, the logistics sector in India, which is a part of the transport industry, alone is expected to reach $215 billion 2020. - Construction
High rise buildings, architectural marvels and a lot more is being constructed all around the world. The construction sector has become one of the biggest employment provider and the reason for foreign exchange. The construction industry in India employs more than 30 million people and is worth around Rs 2.5 crores. Since many architectural marvels including hotels are some of the most visited places in world, it also aids the tourism industry. - Healthcare
The well-being of a person is the foremost priority and therefore, the healthcare industry plays a very crucial role. Prevention, diagnosis and treatment of numerous injuries, ailments, diseases, etc., all falls under this industry. The statistics of people dying due to lack of medical facilities has drastically reduced in the last 50 years, all thanks to the development in the healthcare industry. According to Forbes, the global healthcare industry will cross the $1.85 trillion mark in terms of manufacturer’s revenue in the year 2018. - Retail
A simple process of selling goods through multiple channels of distribution is called retailing, An entire chain works behind the stage when we talk about retailing. From production to suppliers and wholesalers, bring the products to stores where customers can easily buy them. A market with a turnover in hundreds of billions, it is now also drifting towards online platforms. Various retailing websites like Flipkart, Amazon and others are amongst the major online retailing platforms.
- Insurance
Risk management is amongst the topmost priorities and insurance is a market that caters to it. From human life to assets, insurance is available for everything present on the planet. The industry is a thriving one and adds new participants from both sides of the desk every day.
- Computers
Last but not the least, this is the industry that is aiding almost every other industry by being a silent part of it. Computers are the need of the hour for any business to flourish. From the hardware to the software industry, the presence of information technology has enabled us to see life in a different frame altogether. Cloud computing, which is a part of the computer industry, is going to witness an estimated growth from $153.5 billion in 2017 to $186.4 billion in 2018 according to Gartner.