Top 10 Most Profitable Industries in the USA
In a previous article we discussed the most profitable companies, Apple was raining champion but that doesn’t mean the Tech industry is the most profitable. In fact, it’s the health industry that booked a whopping $24.4 billion in combined 2014 revenue according to Inc magazine. So here is the list for the most profitable industries in the U.S.
Reclaiming its title from last year, health is again the most profitable industry on the Inc. 5000. Led by workplace-drug and genetic tester Castle Medical (No. 4), this sector booked a whopping $24.4 billion in combined 2014 revenue.
With a total 2014 revenue of $17.5 billion, the IT industry is showing no signs of slowing down.
The U.S. business products and services industry is in an in-between period. Lower energy prices are cushioning bottom lines and revenues continue to grow, but momentum has slowed. Manufacturing is showing signs of fragility, and some wonder whether B2B could withstand a major macro or geopolitical event.
Logistics and transportation isn’t a buzzed-about industry, but it is absolutely critical–especially for fast-growing companies.
Construction is the process of constructing a building or infrastructure. Construction differs from manufacturing in that manufacturing typically involves mass production of similar items without a designated purchaser, while construction typically takes place on location for a known client. Construction as an industry comprises six to nine percent of the gross domestic product of developed countries. Construction starts with planning, design, and financing; and continues until the project is built and ready for use. the category’s collective sales were $14.4 billion.
Human resources (HR) is a general term meant to cover a wide range of activities. Some of the work that falls to HR professionals includes hiring and firing employees, creating organizational charts and shaping corporate culture after a merger or acquisition, managing employee communications, settling employee disputes, creating benefits programs, navigating government regulations, dealing with legal issues such as sexual harassment and occupational safety.
7. Energy
The United States is a leader in the production and supply of energy, and is one of the world’s largest energy consumers. U.S. energy companies produce oil, natural gas, coal, renewable fuels, as well as electricity from clean energy sources such as wind, solar, and nuclear power. The energy category had a total 2014 revenue of $12.4 billion.
Financial markets in the United States are the largest and most liquid in the world. In 2014, finance and insurance represented 7.0 percent (or $1.223 trillion) of U.S. gross domestic product. Leadership in this large, high-growth sector translates into substantial economic activity and direct and indirect job creation in the United States.
9.Construction
With expenditures reaching over 900 billion U.S. dollars, the United States is the second largest construction market worldwide. Within the United States, most new construction projects are coming on stream in New York, which tops the list regarding construction expenditure in American cities.
If you need to expand your customer base, you’ve come to the right place. The advertising and marketing companies having generated a combined $8.3 billion in revenue in 2014.
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