Biggest Industries by Revenue in the US in 2020

1. Hospitals in the US

Revenue for 2020: $1.174.6B

As a primary provider of healthcare in the United States, the Hospitals industry is expected to grow an annualized 2.8% to $1.2 trillion over the five years to 2020, with an expected increase of 1.6% in 2020 alone. This traditionally fragmented industry has recently begun consolidating, largely due to the pressures of healthcare reform. Demand for industry services has steadily grown over the past five years, as healthcare reform legislation broadened insurance coverage and the sinking unemployment rate increased disposable income.

To maintain an advantaged position in this competitive industry, hospitals seek the most skilled and specialized healthcare professionals, thereby increasing... Learn More

2. Health & Medical Insurance in the US

Revenue for 2020: $1.056.8B

The Health and Medical Insurance industry, which is made up of carriers of private, group and public health, medical and dental insurance, is characterized by growth over the five years to 2020. This growth is a result of consistent increases in healthcare expenditure and medical cost inflation, in addition to a sharp decline in the uninsured rate. Industry revenue is correlated with total health expenditure, as operators increase premiums to maintain profitability. Despite revenue growth, medical cost increases and new legislation mandating minimum medical loss ratios have put pressure on industry profit. As a result of these trends, revenue is... Learn More

3. Drug, Cosmetic & Toiletry Wholesaling in the US

Revenue for 2020: $1.004.9B

The success of the Drug, Cosmetic and Toiletry Wholesaling industry is driven by demand for its primary product segment, pharmaceuticals. The vast majority of industry revenue is sourced from the distribution of prescription and nonprescription drugs to a variety of retailers and healthcare providers. Over the five years to 2019, several major brand name drugs have lost patent exclusivity. This trend has created an opportunity for less-expensive generic drugs to enter the market. Nevertheless, wholesalers have prepared for the expanded use of generic drugs and adjusted their prices and supplies accordingly. Consequently, industry revenue is expected to increase an annualized... Learn More

4. New Car Dealers in the US

Revenue for 2020: $925.9B

Operators in the New Car Dealers industry sell new and used passenger vehicles, provide repair and maintenance services and offer financing and insurance options. The industry is highly cyclical in nature and vulnerable to economic shifts such as fluctuations in employment, overall consumer spending and financing rates. Over the five years to 2019, the industry has trended upward as per capita disposable income and consumer confidence have risen, encouraging consumers to spend more on discretionary purchases such as new and used vehicles and repairs and maintenance for existing vehicles. Thus, industry revenue is expected to increase an annualized 1.6% to... Learn More

5. Life Insurance & Annuities in the US

Revenue for 2020: $854.8B

According to the Federal Reserve and the American Council of Life Insurers, the Life Insurance and Annuities industry is one of the largest sources of investment capital in the United States. Holding 20.0% of all US corporate bonds, industry operators are the largest source of bond financing for domestic businesses. As a result, many companies rely on life insurers to expand operations or finance transactions. However, the primary obligation of life insurers is to their policyholders; consumers use life insurance policies and annuities products for wealth preservation, estate planning and retirement savings. Industry operators provide these services to both individuals... Learn More

6. Gasoline & Petroleum Bulk Stations in the US

Revenue for 2020: $779.7B

Companies in the Gasoline and Petroleum Bulk Stations industry manage bulk storage tanks and terminals for crude oil and petroleum products such as gasoline, diesel fuel, fuel oil and liquid petroleum gases (LPGs). These bulk stations are often located near major refineries, ports and industrial centers to quickly and efficiently receive products and unload it to customers, playing an important role in the crude oil and petroleum products supply chain. Operators can be as large as a multi-tank facility with the capacity to store millions of gallons of product or as small as a single-tank outpost that supplies gasoline to... Learn More

7. Commercial Banking in the US

Revenue for 2020: $747.7B

The Commercial Banking industry is composed of banks regulated by the Office of the Comptroller of the Currency, the Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC). Banks generate the majority of their revenue by accepting customer deposits and then lending these deposits out to individuals and businesses at a certain interest rate, which is influenced by different factors, including the federal funds rate, the prime rate and the debtor’s creditworthiness.Industry revenue finally returned to growth in 2015 after declining in each year since 2008. Interest income increased 1.9% in 2015, which was the first such increase since... Learn More

8. Public Schools in the US

Revenue for 2020: $738.6B

The Public Schools industry includes traditional elementary (kindergarten through fifth grade), middle (sixth through eighth grade) and high schools (ninth through 12th grade), as well as both charter and magnet schools. Due to operators' reliance on state and local government funding, industry revenue is directly affected by changes in tax revenue, which are affected by overall economic health. Over the five years to 2019, industry revenue is expected to increase at an annualized rate of 1.7% to $738.6 billion, including an increase of 0.9%% in 2019 alone.

Public schools receive funding from state and local spending, which accounts for over half... Learn More

9. Property, Casualty and Direct Insurance in the US

Revenue for 2020: $690.2B

Industry operators in the Property, Casualty and Direct Insurance industry support US consumers and businesses by providing protection against damage caused by a variety of events, such as car accidents, catastrophe and medical malpractice. General insurers can provide these services at a fraction of the potential loss by pooling premiums to pay for losses that some policyholders incur. As a result, the industry is an indispensable part of risk management in the domestic economy.

General insurers derive income from insurance premiums and by investing in bonds, stocks and other assets. Most property and casualty premiums are obtained through the renewal of... Learn More

10. Supermarkets & Grocery Stores in the US

Revenue for 2020: $666.5B

The Supermarkets and Grocery Stores industry has grown over the five years to 2019, benefiting from a strengthening economy. As per capita disposable income increased during the period, many consumers shifted to premium, organic and all-natural brands, helping lift industry revenue. Conversely, inflationary food costs have caused many consumers to continue purchasing private-label brands over the past five years. While a shift toward more generic goods curbs revenue growth, it helps operators maintain profit margins, as store brands are less costly to produce than national brands. Overall, industry revenue is expected to grow an annualized 1.3% to $666.5 billion over... Learn More