Revenue growth for the Beer Wholesaling industry has been hindered by shifting alcohol consumption trends among consumers, particularly millennials.

Americans have been consuming less beer and opting for alternative alcoholic beverages.

However, the industry has continued to benefit from laws that prevent the vertical integration of breweries and retailers.

After the Prohibition era, nearly every state enacted a three-tier distribution system, requiring three distinct levels within the alcoholic beverage supply chain, including producer, distributor and retailer.

As a result, beer wholesalers have a protected role, purchasing beer from producers before storing and transporting it to downstream retailers.

Research estimates that industry revenue has grown at an annualized rate of 2.3% to $82.9 billion over the five years to 2021.

Since 2020, the COVID-19 (coronavirus) pandemic has resulted in rising demand for industry operators, with revenue projected to rise 1.0% in 2021 alone.

Operators in the Bicycle Manufacturing industry manufacture bicycles and bicycle components.

During the five years to 2021, strong international competition inhibited greater industry growth; however, increases in disposable incomes and consumer confidence have led to rising demand for industry products.

Consequently, industry revenue has increased at an annualized rate of 2.7% to $1.1 billion during the five-year period to 2021, despite an estimated 0.1% decrease in 2021.

Demand for high-end bicycles has increased at a significant pace during the period.

As a result, many operators have refocused their efforts toward catering to this market, promoting more high-end bicycles to a younger and wealthier consumer base, resulting in higher revenue.

Moreover, demand for bikes actually surged in 2020 during the COVID-19 (coronavirus) pandemic, boosting industry revenue 4.9% in the year.

Over the five years to 2021, online media has challenged many traditional alternatives to billboards, such as newspapers and magazines, slowly seeping into billboard advertising as well.

Nonetheless, buoyed by growth in advertising expenditure and an uptick in business formation, advertisers have continued to value Billboard and Sign Manufacturing industry products as a way to reach mass audiences in an increasingly fragmented media landscape, benefiting demand for the industry.

Nonetheless, the effects of the COVID-19 (coronavirus) pandemic undermined industry revenue in 2020 as downstream demand declined broadly.

As a result, industry revenue is expected to decline an annualized 3.1% over the five years to 2021.

Notably, while nonresidential construction spending has largely risen during the current five-year period, boosting demand for general signage from commercial, public and institutional facilities, it has contract significantly since 2020.

However, as the pandemic begins to subside, industry revenue is expected to increase 3.4% to $13.2 billion.

Operators in the Software Publishing industry design, develop and publish software.

Industry revenue expanded rapidly over the five years to 2021, as businesses and consumers increased their investment in software, computers, smartphones and video games.

Rising private investment in computers and software stimulated demand from businesses, while higher consumer spending encouraged consumers to spend on software as well.

Moreover, new internet-based solutions and the increasing popularity of mobile devices have triggered an explosion of mobile software applications.

Industry revenue is estimated to rise at an annualized rate of 7.8% to $396.7 billion over the five years to 2021.

In 2020, the industry encountered remarkable revenue growth of 12.6%, as the COVID-19 (coronavirus) pandemic incentivized businesses to increase spending on software for remote operations and consumers increased spending on social and entertainment software offerings.

Revenue is anticipated to rise 3.3% in 2021.

Revenue for the Software Testing Services industry has grown more quickly than that of the overall Information sector (Research

report 51) over the five years to 2020, with industry revenue rising at an annualized rate of 12.1% to $6.1 billion during the current period.

Since testing is an integral part of the development process, demand for software testing services ultimately derives from total demand for software, including traditional software packages, cloud-based solutions and mobile applications.

Revenue for the Speech and Voice Recognition Software Developers industry is expected to increase an annualized 12.8% to $16.6 billion over the five years to 2019.

Speech recognition software recognizes the articulated words of a speaker and converts them into a digital format.

Voice recognition can be used like a fingerprint and is aimed toward identifying the speaker, often for security purposes, using voice biometrics solutions.

Furthermore, voice recognition helps consumers with high accuracy speech recognition, natural language understanding, dialog and information management, text to speech and optical recognition.

Additionally, industry operators have benefited from the innovations in artificial intelligence, including machine learning in order to create smarter and more natural experiences.

Industry services are useful for the healthcare, automotive and mobile industries as well as an increasing number of others, the industry is expected to develop rapidly during the period.

Its growth will slow to 6.2% in 2019, while profit represents 30.6% of industry revenue during the same year.

Operators in the Tax Preparation Software Developers industry provide software that enables individuals and small businesses to file federal and state tax returns online, often following an automated step-by-step guide.

Due to the necessary nature of filing taxes each year, industry revenue is generally steady.

Further, operators have encountered rising demand over the five years to 2020, as more personal and business filers became comfortable using software programs.

According to the 2020 Tax Returns Study by the National Retail Federation, the share of consumers self-filing with computer software will total 37.0% this year, while more than 70.0% will file online altogether.

This has enabled the industry to outpace growth in demand for other tax-filing services.

Overall, industry revenue has risen at an annualized rate of 5.9% over the five years to 2020 to $3.3 billion, including anticipated growth of 2.5% in 2020.

The COVID-19 (coronavirus) pandemic has prompted the Internal Revenue Service to extend the deadline for personal tax filings and constrained the US economy, including lower private investment in computers and software.

This is likely to constrain industry revenue growth this year.

The Urban Planning Software industry provides a range of solutions for city and regional planning, including geographical information systems (GIS), site topography modeling, map analytics and building information modeling software.

Industry demand is tied to construction activity and infrastructure investments made by both private and public entities.

More broadly, urbanization and levels of both residential and nonresidential construction also dictate industry performance.

Over the five years to 2020, greater adoption of analytics and software in the urban planning space has supported strong industry growth; however, the economic recession in 2020 is anticipated to hamper industry performance.

Research

projects industry revenue to decline an annualized 0.1% to $1.8 billion over the five years to 2020, including a decline of 8.5% in 2020 alone related to COVID-19 disruptions.

The Video Conferencing Software Developers industry is expected to expand rapidly over the five years to 2020.

The industry’s communications tools have increasingly become indispensable to the operation and continuity of large organizations, particularly large corporations.

This trend has been encouraged by several key trends shaping the corporate landscape, including highly globalized work forces, work from home policies and flatter organizational structures.

Additionally, the functionality and accessibility of video conferencing software has greatly improved as advancements have been made in both software and hardware during the period.

This seamless functionality and greater degree of integration has popularized the unified communications as a service (UCaaS) designation for more robust, enterprise-level platforms.

Overall, the industry’s product innovation and growing indispensability is expected to drive revenue growth of an annualized 25.9% to $7.3 billion over the five years to 2020.