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 industries2021-2022 Revenue Growth: 61.3%
Demand for the International Airlines industry has experienced significant volatility over the five years to 2021. 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. While competing enterprises were still able to generate growth during most of the period, unprecedented disruptions from the COVID-19 (coronavirus) pandemic will likely generate the most substantial revenue decline in industry history. Overall, industry revenue has decreased at an annualized rate of 11.4% to $27.7 billion over the five... Learn More
2021-2022 Revenue Growth: 57.8%
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 2021 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
2021-2022 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
2021-2022 Revenue Growth: 56.3%
Due to social distancing measures associated with the COVID-19 (coronavirus) pandemic which remains ongoing, revenue for the Move Theaters industry has declined over the five years to 2021. 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. The coronavirus pandemic has had a disastrous effect on the industry. IBISWorld estimates that industry revenue has decreased... Learn More
2021-2022 Revenue Growth: 53.3%
The Non-Hotel Casinos industry has been dealt a mixed hand over the five years to 2021, as various factors, including increased competition, have curbed spending at casinos. Long-standing casino operators have struggled over the past five years, mainly due to an influx of new casino hotels in states that have eased restrictions on casinos. As a result, industry revenue has decreased an annualized 5.9% to $15.2 billion over the five years to 2021, including a decrease of 52.6% in 2020 alone. During the period, increased competition has also placed pressure on industry operators' profit. Through 2019, gambling revenue increased, as... Learn More
2021-2022 Revenue Growth: 52.4%
The Tour Operators industry has experienced growth over most of the five years to 2021. 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 endured a sharp contraction in 2020 as lockdowns and travel restrictions within the United States and globally went into effect, in an... Learn More
2021-2022 Revenue Growth: 50.0%
Revenue for the Domestic Airlines industry has experienced significant declines over the five years to 2020. While most of the period has been characterized by expansion amid broader economic growth, the COVID-19 (coronavirus) pandemic caused unprecedented industry disruption. Operators primarily engaged in the scheduled transportation of passengers represent one of the most vulnerable industry groups in regard to the pandemic's negative effects. As a result, industry revenue has decreased at an annualized rate of 12.0% to $71.0 billion over the five years to 2020, including an estimated decline of 53.8% in 2020 alone. Additionally, industry profit, measured as earnings before... Learn More
2021-2022 Revenue Growth: 48.3%
The Travel Agencies industry has experienced a significant contraction in revenue, profit and overall industry participation over the five years to 2021. This curtailment of demand and industry activity is due to the 2020 COVID-19 (coronavirus) pandemic, as stringent travel restrictions were issued to limit close social interactions and help curb the spread. As a result of these unforeseen complications, industry revenue is expected to decrease at an annualized rate of 6.4% to $32.1 billion over the five years to 2021.
The industry prospered prior to 2020, which can be attributed to sizable increases in consumer confidence, as it is a... Learn More
2021-2022 Revenue Growth: 45.2%
Operators in the Concert and Event Promotion industry produce, advertise and manage a variety of live events and performances, including concerts, sporting events and public appearances. For the majority of the five-year period between 2016 and 2021, industry revenue experienced significant growth. Positive economic expansion fueled consumer discretionary purchases on live events and related performances. However, the COVID-19 (coronavirus) pandemic has generated an estimated 69.0% revenue decline in 2020 alone, representing unprecedented disruption for live event promoters across the United States. As the quarantine period has trickled into the current year, ongoing performance will depend on the speed and efficacy... Learn More
2021-2022 Revenue Growth: 42.8%
The Taxi and Limousine Services industry provides a range of nonregular transportation services through vehicles such as taxicabs, limousines and luxury sedans. Rising consumer spending and private investment levels have prompted greater industry demand over the past five years, with the exception of 2020. Moreover, the proliferation of ride-sharing applications, namely Uber Technologies Inc. (Uber) and Lyft Inc. (Lyft), has enabled a wave of nonemploying operators to enter the market, bolstering industry growth significantly. In 2020, however, the COVID-19 (coronavirus) pandemic culminated in an estimated 13.8% revenue decline. Closure of nonessential businesses, canceled travel plans and shelter-in-place orders all reduced... 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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