Definition

Noun: An industry that is experiencing a rapid and significant increase in size, revenue, or importance, often outpacing the general economy or other sectors.

Usage

This term is used to describe a specific sector of the economy that is expanding quickly. It often implies strong future potential and attracts investment, talent, and media attention. It is typically used in business, economic, and investment contexts.

Examples

• Renewable energy has become a growth industry in many countries.
• Cybersecurity is widely considered a growth industry due to increasing digital threats.
• The report identified several growth industries for the coming decade.

Advanced Usage

• The term can be used metaphorically outside of strict business contexts to describe any rapidly expanding field or activity.
  • Online education became a growth industry during the pandemic.

Variants and Related Words

• Growth sector (n): A specific segment within the economy that is growing rapidly. This is a very close synonym and is often used interchangeably with "growth industry."
• Sunrise industry (n): An emerging industry with high growth potential, often contrasted with a "sunset industry" (a declining industry).

Synonyms

• Expanding industry
• Booming sector
• High-growth sector

Antonyms

• Declining industry
• Sunset industry
• Mature industry

Noun

1. an industry that is growing rapidly