Jobs | Industry | US : 10 Dying Industries

Toon Van Beeck has identified 10 key industries that will decline, even after the economy revives in Dying Industries, published by IBISWorld.

Van Beeck recalls that “not every industry is performing well. Industries go through life cycles, and largely speaking, these are growth, maturity and decline.”

Dying industries face one or more detrimental trend. (from the report)

Damaging external competition

Particularly relevant to the manufacturing sector, major competition for items produced in the United States comes from imported products, especially low-cost items.

Advancements in technology

While technological developments make life easier and more efficient, they often come at the demise of industries that rely on the old ways of life.

Industry stagnation

As competition becomes fiercer, due to the above two factors and many internal and external reasons, businesses often need to cut costs in all production areas to reduce prices and garner sales.

The future of dying industries

Each and every one of these industries has been impacted by one of more of the three detrimental industry factors, including external competition, advances in technology and

Industry stagnation

It does not mean that the players that operate within them are also on the brink of death. Industry operators that protect their strengths in certain market segments, focus on niche opportunities and capitalize on the dwindling number of competitors often reap the strongest rewards of sole operation, market survival and profitability.

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