10 Biggest Industries By Revenue

According to the latest Fortune Global 500 tally released on 10 August 2020, this ranking contains the world's wealthiest corporations by consolidated 2019 sales. Since 2014, the American retail corporation Walmart has become the world's biggest company by sales. The ranking is limited to the top firms, all of which surpass US$ 123 billion in annual sales.

Posted On November 12th, 2020

Healthcare

Despite increases in global demand for insurance policies, the Global Life and Health Insurance Carriers market has deteriorated over the five years to 2020. The industry provides downstream customers with critical risk management services and is an essential part of the financial sector, especially with regard to the vast asset holdings of the industry. Operators in the sector shield customers from the present, severe and long-term costs of sickness, disability and death. By combining separate risks, life and health insurers have insurance at a fraction of the possible loss.

Pension Funds

As a result of attractive investment returns and the rising rate of contributions, the Global Pension Funds market has seen solid growth for most of the five years to 2020. Pension plans, consisting of defined benefit (DB) and defined contribution ( DC) programmes, have been the key means of fulfilling the retirement needs of an ageing global population. Revenue from the sector consists of contributions, dividend profits, net securities transactions and more. Despite uncertainty in capital markets, strong investor returns from equities have powered sales development.

Oil and Gas

Global oil and gas exploration and development industry players are discovering and harvesting crude oil and natural gas from deposits of oil and gas around the world. The prices of crude oil and natural gas have fluctuated sharply over the five years to 2019, amid steady supply growth, creating crazy swings in revenue. In the years leading up to the reporting period, prices increased significantly, peaking in 2012. In 2015 and 2016, slowing global demand amid constantly growing supply led prices to plunge, but they have since recovered.

Real Estate

After a slow start, the Global Commercial Real Estate market expanded for most of the five years to 2020. Investor trust was hit in 2015, largely due to global political instability and low oil prices, which continued into 2016. Investment in the sector was adversely impacted by this and sales fell 0.6 per cent in 2016. In the wake of robust global economic recovery, which pushed company sales to recover, global spending has since rebounded strongly. However, as economic instability skyrockets, the COVID-19 (coronavirus) epidemic is expected to seriously constrict demand.

Automobile Sales

Revenue for the Global Automotive and Vehicle Sales sector is projected to decline over the five years to 2020, mostly due to the economic fallout as a result of the pandemic of COVID-19 (coronavirus). During the beginning of the century, the industry experienced growth as increasing global per capita income and increased global car demand promoted global car sales, mostly in emerging economies. Several variables, however, have limited market growth. Several European nations, for example, have witnessed poor economic growth.

Automobile Manufacturing

Revenue is expected to rise for the Global Automotive and Vehicle Manufacturing sector over the five years to 2019 due to improving economic conditions. In addition to positive economic developments, there has been a major improvement in market demand on the technological front, especially in terms of the fuel efficiency of cars, entertainment and autonomous driving capabilities. In terms of tougher regulatory standards and customer demand, manufacturers have steadily placed greater focus on rising fuel efficiency.

General Insurance

Over the five years to 2020, the Global Direct General Insurance Carriers industry has faced headwinds as a softening insurance sector, low-interest rates and multiple natural events in major developed markets have affected operators. The rise of emerging markets, however, has outpaced the stagnation in developed markets and, over the past five years, has guided the industry's growth. In developing markets, such as China, the rise of the middle class has underpinned the expansion of demand that has guided the growth of the industry as more customers have bought insurance products.

Commercial Banks

As major developed economies witness elevated commercial banking activity as a result of good economic growth and favourable aspirations, the Global Commercial Banks sector is expected to begin recovering from the 2008 global financial crisis. As demand for loans is heavily impacted by market and customer sentiment, as well as the degree of activity that needs finance, the industry closely tracks global economic growth. The good global economic success driven by the United States and emerging markets, such as China and South East Asia, has strengthened the trust of firms and customers who have funded the origination of loans.

Auto Parts

The Global Car Parts and Accessories Manufacturing market is projected to decrease over the five years to 2020, as automakers, the biggest consumers in the industry, have been hit by the economic fallout from the COVID-19 (coronavirus) pandemic. Barring 2020, per capita wealth levels have increased globally and developing countries have been able to buy their own vehicles from the expanding middle classes. As demand for new vehicles has grown, more parts have been requested from factory operators by original equipment manufacturers.

Global Tourism

During the five years to 2020, the global tourism market is forecast to grow at an annualised rate of 0.2 per cent to $1.5 trillion. During the five-year era, global tourism performed well, with emerging economies continuing to stimulate demand. In comparison, countries in Asia and South America have experienced strong per capita income growth, allowing customers to move abroad in growing numbers in these areas. However, market income is projected to fall 8.9 percent over the year due to the global outbreak of COVID-19 (coronavirus) in 2020.