Biggest Industries by Revenue in the US in 2020

1. Retirement & Pension Plans in the US

Revenue for 2020: $1.232.9B

The Retirement and Pension Plans industry, comprising only private and public defined benefit (DB) pension plans, is estimated to grow at an annualized rate of 19.5% to $1.2 trillion over the five years to 2020. Strong investment gains and steady growth in contributions have propelled the industry forward during the period, despite significant declines in 2015 and expected in 2020. In 2017, revenue growth was particularly strong, increasing 115.6%. This has helped ensure revenue growth on an annualized basis, despite an expected decline of 8.4% in 2020 due to the COVID-19 (coronavirus) pandemic and its economic consequences.

Revenue for the industry... Learn More

2. Drug, Cosmetic & Toiletry Wholesaling in the US

Revenue for 2020: $1.078.8B

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 2020, 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

3. 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

4. Hospitals in the US

Revenue for 2020: $934.8B

Despite being a primary provider of healthcare in the United States, revenue for the Hospitals industry has declined over the five years to 2020, as hospitals across the United States have struggled with the COVID-19 (coronavirus) pandemic. As the coronavirus pandemic spread in early 2020, hospitals have been crucial in the treatment and control of the virus. However, due to the highly contagious nature of the virus, people have avoided hospitals for nonessential and nonemergency care. While hospitals have experienced an influx of patients with coronavirus, and are, in many cases, operating at capacity, high value patients are staying away.... Learn More

5. Pharmaceuticals Wholesaling

Revenue for 2020: $868.8B

The Pharmaceuticals Wholesaling industry consists of companies that distribute both prescriptions and nonprescription, or over-the-counter (OTC), medicines intended to treat and prevent diseases. Over the five years to 2020, a rise in the number of individuals with private health insurance and the number of physician visits has fueled revenue gains for the industry. Additionally, the aging of the US population has also boosted industry revenue growth, as individuals generally require and purchase more medications as they get older. Reflecting these trends, industry revenue has increased at an annualized rate of 2.2% to $868.8 billion over the five years to 2020,... Learn More

6. Public Schools in the US

Revenue for 2020: $804.4B

The Public Schools industry includes traditional elementary (kindergarten through fifth grade), middle (sixth or seventh 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. Government funding for primary and secondary education is estimated to grow at an annualized rate of 1.6% over the five years to 2020. As such, industry revenue is estimated to increase at an annualized rate of 2.6% to $804.4 billion,... Learn More

7. New Car Dealers in the US

Revenue for 2020: $790.4B

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 2020, industry revenue has trended downward as per capita disposable income and consumer confidence have declined later during the period, discouraging consumers to spend more on discretionary purchases, such as new and used vehicles and repairs and maintenance for existing vehicles. Thus, industry revenue has decreased an annualized... Learn More

8. Life Insurance & Annuities in the US

Revenue for 2020: $723.3B

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

9. Supermarkets & Grocery Stores in the US

Revenue for 2020: $681.9B

Revenue for the Supermarkets and Grocery Stores industry has grown over the five years to 2020, benefiting from a strengthening economy for most of the period. As per capita disposable income has increased, many consumers have 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, as store brands are less costly to produce than national brands. Overall, industry revenue has grown an annualized 1.2%... Learn More

10. Commercial Banking in the US

Revenue for 2020: $681.6B

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. The Federal Reserve's gradual process of interest rate normalization between 2015 and 2018... Learn More