Do you know the NAICS and SIC codes for the industry you are researching?
The federal government assigns these codes to business segments for data collection and reporting purposes. NAICS (North American Industry Classification System) codes were adopted in 1997 to replace the old Standard Industrial Classification (SIC) system. Many research resources, such as databases, utilize NAICS and/or SIC codes for searching purposes.
Find NAICS and SIC codes for a specific industry at the U.S. Census Bureau website. Need help? See the NAICS tutorial on this LibGuide for some tips.
First, you need to find your industry. Search for your company or industry. Select the best match in the drop-down menu.
On that first tab, you can find a lot of introductory information about the industry. This includes the industries that supply materials for your industry and industries that make demands on your industry.
The second tab is a great place to get an introduction on how this industry is trending.
The most useful information in the Industry Outlook tab is the Industry Life Cycle section. This is where you will find information on the various stages where businesses operate, progress, prospect and slump within an industry. An industry life cycle typically consists of five stages — startup, growth, shakeout, maturity, and decline.
The Products and Markets tab is where you will find how a particular product is behaving in the industry as a whole.
The Major Companies tab is where you will find information about your company's main competitors and their market share.
This final tab is where you will find the data points to help support much of the information you found in previous tabs