Which industry is known as 'Sunrise Industry'?
- AOption (a)
Transport Industry
- BOption (b)
Petrochemical Industry
- COption (c)
Construction Industry
- DOption (d)
Computer Industry
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Correct answer
Computer Industry
Why this answer is correct
The correct answer is Computer Industry.
Key Points
- A blossoming enterprise or business in its infancy stage exhibiting promise of a rapid boom is referred to as a "sunrise industry".
- High growth rates, a large number of start-ups, and an abundance of venture capital funding are often characteristics of sunrise industries.
- As investors' interest in their potential for long-term growth grows and the general public becomes more aware of them, these industries create a lot of "buzz."
- The alternative energy sector between 2003 and 2007 as well as the social media, Computer Industry, and cloud computing sectors in 2011 and 2012 are examples of sunrise industries.
Additional Information
- An industry may move from the dawning stage to the maturity stage, and then to the sunset stage, as it matures.
- Sunrise industries must demonstrate their viability and sustainability if they are to remain relevant and continue to grow.
- A sunrise industry is frequently distinguished by a high level of innovation, and its quick ascent may threaten to push a rival industry sector that is already in decline into obsolescence.
- The rival industry sector is known as a sunset industry due to its bleak long-term prospects.
- Sunrise industries still need to demonstrate that their markets are enduring and viable notwithstanding the initial attention they receive.
- The first buzz they create may be more based on conjecture about the potential the sector holds than actual commercial action.
