Industry and market research reports can provide insight into the operating conditions, trends, market share, barriers to entry, and outlook for the industry.
Important industry information can also be found from industry associations. Information available often includes:
Use Google or another search engine to search for associations relevant to your industry in your location. If you don't find something, try broadening your geographic area (e.g. from Ontario to Canada, or from Canada to the U.S. or international). If your industry is very specialized or new, look for associations for boarder or similar industries. Try searching terms like industry association, industry group, trade group, or trade organization.
Don't forget to check the association website for additional industry stats. Many organizations make some of their research freely available.
Often industry data is organized by classification codes that assign companies to a category based on their business activities.
In Canada, we primarily use NAICS (North American Industry Classification System), developed by the statistical agencies of Canada, Mexico, and the United States. Knowing the NAICS code(s) for your industry can be helpful in your research.
