IBISWorld is an excellent resource for industry profiles. You should also use other databases. Each database has a different approach to industry profiles. It is worthwhile to check them all even if you find information on your industry in one of them. Different publishers, different information!
Detailed U.S. Industry research reports including industry performance, outlook, major companies, supply chain, demand drivers, cost structure, barriers to entry, and key statistics
What are SIC & NAICS Codes?
Standard Industrial Classification (SIC) codes and North American Industry Classification System (NAICS) codes are numerical classification systems created by the United States government. These systems are used to group/classify similar companies into industries for the purposes of collecting, analyzing, and publishing statistical data related to the U.S. business economy.
The SIC system was originally developed in the 1930s and was last updated in 1987. The NAICS system was first released in 2002 and last updated in 2022. While NAICS has "officially" replaced SIC, many business directories and databases still use one or both of the systems. Therefore, it is important to know about both SIC and NAICS.
You can use these codes to find information about industries in business databases and directories. Use the codes to:
Source information-https://libguides.bentley.edu/
US Census at https://www.census.gov/programs-surveys/economic-census/year/2022/guidance/understanding-naics.html
This database provides information for millions of U.S. businesses nationwide. Search by company name, size, revenue, business costs, location, industry and other criteria. Reference Solutions can be used to research competitors, B2B customers, suppliers, and potential employers. location, size and type of business. Access provided by the New Jersey State Library.
Two ways you can find a NAICS or SIC code:
Option One
Use this site to search for NAICS codes.
Note: It can be tricky to find the right wording. Try variants- cell phone vs. mobile phone vs. wireless communications, etc.
Use this U.S. Department of Labor site to search for an industry code by keyword, or look up an SIC code.
Option Two
Locate a company profile for a company that operates within the industry you are researching in a database called Reference Solutions. Company profiles typically include the company's SIC and NAICS codes. Many companies operate across a variety of industries (e.g. have multiple lines of business) and may have more than one code. A company's primary SIC/NAICS code is usually the first in the listing.
