Information Sector Business Trends
The COVID-19 pandemic’s effect on the global economy stunted growth of the information sector. Overall, sector revenue declined during 2020 but is expected to grow in the upcoming years as the worldwide economy begins to recover. Industries that relied on in-person services, such as movie theatres and various venues, suffered the most from the pandemic.
But, increased remote work resulting from the pandemic created a boon for telecommunication services as well as data storage services. The growing acceptance of remote work is projected to further contribute to sector growth due to increased demands for these services.
Recommended: Visit our Business Trends page to explore interactive data for other industries.
Skip ahead to:
- Key Sector Indicators
- Sector Revenue Trend
- Major Players and Industry Competition
- Information Sector Business Formations Trends 2018–2020
- Business Concentration in the US
- TRUiC's Most Popular Business Ideas
Key Sector Indicators
Market Revenue: $1.9 Trillion
Profit: $267.6 Billion
Profit Margin: 13.8%
Number of Businesses: 469,000
Employment: 4 Million
Sector Revenue Trend
The following graph shows the information sector’s revenue since 2013. Additionally, a projection for the sector’s future revenue through 2026 is given. Market revenue is an important key indicator for understanding how much money is coming into a sector.
(This graph is interactive!)
Major Players and Industry Competition
Major players in the information industry make up roughly 32% of the sector’s total market. AT&T Inc. and Verizon Communications, the two largest players in the industry, account for 16% of the information market. Given the hold that major players have on the information industry, it may be more difficult for new businesses to establish themselves as a competitor in the information industry.