Already a Multi-Trillion-Dollar Market 2025

Appendix 2: Definition of Industry Classification Benchmark (ICB) industries 1. Technology Consists of companies that are primarily engaged in the advancement of the information technology and electronics industries. It includes companies developing integrated computer systems and services, application software not specific to industry market segments, and digital platform providers that generate revenue from advertising contents and derive subscription fees from an advertiser. Also included are companies that develop next- generation electronics and related components. Disruptors leveraging “new” technology will not automatically earn their inclusion in the technology industry. Rather, individual company technology applications and services will be reviewed as to the markets they serve. Examples include companies that provide healthcare, technology equipment, electronic entertainment (video games), e-retailers and transaction processing service companies. 2. Telecommunications Consists of companies that own and operate telecommunications infrastructure to provide content delivery services. Also included are manufacturers of telecommunications equipment and components. 3. Healthcare Consists of companies that manufacture healthcare equipment and supplies or that provide healthcare-related services such as lab services and in-home medical care, and operate healthcare facilities. Also included are companies involved in research, development and production of pharmaceuticals and biotechnology products and medical cannabis producers. 4. Financials Consists of companies engaged in savings, loans, securities investment and related activities, such as financial data and information providers. Other examples include mortgage/consumer/corporate financing, investment banking and brokerage, asset management and custody, insurance and mortgage real estate investment trusts (REITs).5. Real estate Consists of companies engaged in real estate investment, development and other real estate-related services. Also includes equity REITs. Mortgage REITs are classified under the financials industry. 6. Consumer discretionary Consists of companies that provide products and services directly to the consumers and their purchasing habits are cyclical in nature (discretionary). Includes companies that manufacture and distribute household durable goods, apparel, home electronic devices, leisure equipment and automotive and related parts. The services segment includes hotels, restaurants, retail/e-retail, passenger transportation and other leisure facilities. It also includes media companies that engage in entertainment content creation and traditional advertisement. It excludes web-portals/ hosts that generate revenue through advertisement, which are classified under technology – consumer digital services. 7. Consumer staples Consists of companies that provide products and services directly to consumers and their purchasing habits are non-cyclical in nature (staples). Includes companies that manufacture, distribute and/or retail food, beverages and other non-durable household goods. It also includes drug-retailing companies as well as agriculture, fishing, ranching and milling companies. 8. Industrials Consists of companies engaged in the manufacturing and distribution of capital goods and providers of business support services. It includes aerospace, weapons/defence, commercial vehicles, construction materials, industrial machinery and equipment manufacturers. The service segment includes commercial transportation services, business support, maintenance and security services, international trade, transaction processing and diversified logistic support services. Already a Multi-Trillion-Dollar Market: CEO Guide to Growth in the Green Economy 48