Over the five years to 2021, the Brand Name Pharmaceutical Manufacturing industry has experienced several new drug launches, with nearly 50 new active substances launched in 2019 alone.

According to research by Informa PLC, the number of new drug launches in 2019 was more than double the number launched in 2016, with many new drug launches focusing on rare diseases and oncology.

Given increasing price scrutiny, competition from generics, intensifying market competition among brand-name producers and rising research and development (R&D) expenses, many manufacturers have shifted their strategic focus to more lucrative therapy areas, such as rare diseases and oncology.

As a result, many operators pivoted their pipelines to rare diseases, in which low prescription volumes can be offset by high per unit costs and benefit from orphan drug exclusivity, which grants longer patent exclusivity in the United States and the European Union.

Carbon fiber is a strong, extremely lightweight composite material that can be molded to take on a permanent shape.

Carbon fiber has many useful properties which make it a go-to in a wide range of applications.

These include corrosion-resistance, low upkeep, excellent durability, high stability and a high level of design freedom.

Demand for carbon fiber on an organic basis has grown significantly over the five years to 2021 and is likely to continue growing robustly over the five years to 2026.

However, Carbon Fiber and Graphene Manufacturing industry operators experienced declines in 2020 amid the COVID-19 (coronavirus) pandemic.

As consumer spending on air travel declined amid the pandemic, industry revenue followed.

During 2020, domestic trips taken by US residents is anticipated to have declined 59.5%.

Industry revenue is anticipated to follow, declining 16.0% in 2020.

Due to coronavirus-related volatility, overall revenue for the Carbon Fiber and Graphene Manufacturing industry is forecast to decline at an annualized rate of 0.5% to $1.7 billion over the five years to 2021, including an expected growth of 6.4% in 2021.

The Ceramics Manufacturing industry produces a diverse mix of products, including advanced and technical ceramics, plumbing fixtures, kitchenware, pottery products and lightweight body armor.

This industry has contended with high import competition, which has been exasperated by increases in the trade-weighted index and weakened demand from the Semiconductor and Circuit Manufacturing industry.

However, growth in housing starts and increased demand from automobile electronics manufacturing have supported revenue growth.

Over the five years to 2021, industry revenue is expected to increase at an annualized rate of 1.8% to $2.6 billion.

This includes a 6.6% decrease in revenue in 2020 caused by the COVID-19 (coronavirus), which has greatly reduced downstream demand in construction and housing markets, as well as exports.

Nevertheless, research anticipates industry revenue to rebound 4.3% in 2021 alone.

Furthermore, overall import competition is expected to remain high during the current period, with imports expected to account for 81.3% of domestic demand in 2021.

Additionally, industry profit is expected to remain steady during the current period.

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.

The Video Game Software Publishing industry produces and distributes video game software for video game consoles, personal computers and mobile devices.

The popularity of smartphone video games and established console game franchises, such as Call of Duty and FIFA, stimulated industry revenue growth over the five years to 2020.

Moreover, mobile video games grew substantially as a portion of industry revenue over the past five years, alongside proliferating smartphone ownership.

According to Pew Research, smartphone ownership in the United States has risen from 59.0% in 2015 to 81.0% in 2019, bolstering access to and demand for mobile games.

Overall, industry revenue rose at an annualized rate of 9.1% to $28.5 billion over the five years to 2020, despite stunted growth of 1.5% in 2020 as the COVID-19 (coronavirus) pandemic reduced consumer spending and confidence.