Based on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Fastest Growing Industries in the US by Revenue Growth (%) in 2021
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View a list of the Top 25 fastest growing industries2019-2020 Revenue Growth: 169.9%
The Musical Groups and Artists industry has been subject to a series of massive shake-ups over the five years to 2020 due to the popularity of mp3 players, music piracy, internet radio and online streaming. Furthermore, the ongoing COVID-19 (coronavirus) pandemic has disrupted the industry's ability to hold live events. The steady replacement of physical albums with digital downloads has slashed revenue from record sales largely as a result of digital music selling at a lower price point. However, industry revenue is forecast to increase in 2015, 2016 and 2018 as rising per capita disposable income provides consumers with the... Learn More
2019-2020 Revenue Growth: 147.1%
Due to social distancing measures associated with the COVID-19 (coronavirus) pandemic in 2020, revenue for the Move Theaters industry has declined over the five years to 2020. During most of the period, the industry experienced growth due to rising per capita disposable income and the success of blockbuster films, drawing more moviegoers to theaters. Competition from substitute film viewing methods, such as an online streaming platforms, and other forms of entertainment has posed significant sources of external competition for the industry. However, the coronavirus pandemic has had a disastrous effect on the industry. IBISWorld estimates that industry revenue has decreased... Learn More
2019-2020 Revenue Growth: 74.0%
The Airport Operations industry has experienced healthy growth over the five years to 2020 as improving economic conditions have fueled demand for airport services. Increased travel activity of both domestic and international consumers has stimulated flight activity and generated revenue through passenger charges and aircraft support services, while rising per capita disposable income has enabled consumers to spend more on duty-free retail outlets, car rentals and other nonaeronautical industry services. However, industry growth has been limited by the industry's capacity constraints, which have created congestion and other inefficiencies at several major airports. Additionally, demand has nearly halted amid the COVID-19... Learn More
2019-2020 Revenue Growth: 57.8%
Revenue for the Casino Hotels industry has declined over the five years to 2020. Domestic competition has increased during the period, as states that did not previously permit gambling have since loosened regulations. Meanwhile, competition from international gaming capitals that attract operators by offering tax exemptions for new establishments, such as Macau, remains significant. Moreover, the COVID-19 (coronavirus) pandemic has weighed on the industry, as all casino hotels were required to temporarily shutter in mid-March 2020. Consequently, industry revenue has decreased at an annualized rate of 10.9% to $34.8 billion over the five years to 2020, including an estimated decline... Learn More
2019-2020 Revenue Growth: 50.9%
The Tour Operators industry experienced growth prior to the outbreak of COVID-19 (coronavirus) in 2020. The industry benefited from rising disposable income levels and a strengthening global economy. As unemployment declined and consumer spending grew, domestic and international trips taken by US residents increased, bolstering demand for tour packages. Additionally, inbound trips made by non-US residents also grew as disposable income levels rose in countries in Asia, Latin America and Europe. However, the tourism sector as a whole has endured a sharp contraction in 2020 as lockdowns and travel restrictions within the United States and globally went into effect, in... Learn More
2019-2020 Revenue Growth: 49.3%
The Sightseeing Transportation industry provides a variety of ground, nautical and aerial sightseeing transportation for everyday consumers. Industry operators generally offer services such as bus tours, whale watches, helicopter rides, boat and dinner cruises and locomotive excursions. Over the five years to 2020, the industry benefited from improving economic conditions, including rising levels of per capita disposable income, which resulted in many consumers increasing their recreational expenditure. However, travel activity during the five-year period decreased, most notably in 2020 due to COVID-19 (coronavirus), which restricted consumers from international and domestic travel. This severely affected industry operators and dragged down performance... Learn More
2019-2020 Revenue Growth: 48.3%
The Travel Agencies industry revenue has experienced growth over the five years to 2020, as online booking agencies capitalized on increased demand for travel while traditional travel agencies worked to reinvent their business practices. The rise of online travel websites, such as Expedia.com and Priceline.com, has completely revolutionized the industry. This trend has been amplified with the rise of mobile computing, because consumers are more likely to do their own travel research and seek affordable travel packages online. Consequently, many brick-and-mortar travel agencies have been forced to find new markets. In 2020 alone, revenue is anticipated to decline 35.4% due... Learn More
2019-2020 Revenue Growth: 47.6%
The International Airlines industry has declined over the five years to 2020 amid volatility brought on by COVID-19 (coronavirus). In recent years, mounting competition from foreign competitors and chronic overcapacity within the industry's cargo transportation segment have forced industry operators to slash ticket prices and reduce freight shipping rates, causing industry revenue to decline. Moreover, substantial declines in the world price of crude oil led the price of jet fuel to plummet during the five-year period, preventing operators from generating revenue through fuel surcharge fees. Thus, the industry endures high revenue volatility and industry demand is dependent on economic conditions,... Learn More
2019-2020 Revenue Growth: 43.7%
The Chain Restaurants industry has exhibited strong growth over the five years to 2020, although ultimately exhibited declines due to the COVID-19 (coronavirus) pandemic. For most of the period, the industry has expanded as chain restaurant operators increasingly benefited from economies of scale. Meanwhile, as per capita disposable income increased and unemployment reached record lows, consumers increased their spending, giving rise to greater spending on meals eaten away from home, including sit-down meals. However, ultimately conceding to the pandemic's severe detriment to the overall food service sector, over the five years to 2020, industry revenue is expected to decrease at... Learn More
2019-2020 Revenue Growth: 43.4%
The Hotels and Motels industry is highly susceptible to changes in the domestic and global economic environments, which has caused the industry to experience substantial volatility over the five years to 2020 due to the recent global COVID-19 (coronavirus) pandemic. During most of the period, the industry benefited from increases in travel spending, corporate profit and general consumer spending. These factors were all affected substantially by the coronavirus pandemic. The onset of coronavirus in the United States immediately reversed economic trends that were benefiting the industry by stifling spending and halting travel. As a result, the Hotels and Motels industry... Learn More
Based on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Biggest Industries by Revenue in the US in 2021
VIEW ARTICLEBased on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Industries with Largest Number of Bussinesses in the US in 2021
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