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Which industry/industries known as "Sunrise Industries"? (A) Iron and Steel Industries (B) Information Technology (C) Cement Industries (D) Cotton Textile Industries

Which industry/industries known as "Sunrise Industries"? (A) Iron and Steel Industries (B) Information Technology (C) Cement Industries (D) Cotton Textile Industries Correct Answer Only (B)

The correct answer is only B.

Key Points

  • Iron and Steel Industries, Cement Industries and Cotton Textile Industries are well-established industries, so they cannot be sunrise industries. Hence Information Technology is an example of sunrise industries.

Important Points

  • 'Sunrise industries' is a colloquial term for a sector or business that is in its infancy, but is growing at a rapid pace.
    • A sunrise industry is typically characterized by high growth rates, numerous start-ups and an abundance of venture capital funding.
    • A sunrise industry is often characterized by a high degree of innovation, and its rapid emergence may threaten to push into obsolescence a competing industry sector that is already in decline.
    • Examples of sunrise industries include alternative energy in the period from 2003 to 2007, and social media and cloud computing in 2011 and 2012.
  • Over a period of years or decades, as an industry grows and matures, it may pass from the sunrise phase to maturity and, finally, the sunset stage.
  • The compact-disc industry is a typical example of such a transition.
    • It was a sunrise industry in the 1990s as compact discs replaced vinyl records and cassette tapes, but the rapid adoption of digital media in the 21st century could mean that the compact-disc industry's days are numbered.

Related Questions

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