An industry can be regarded as the production of related services or goods within an economy. The indicator of the industry relevant is the chief revenue source of a company or group. In simple words, an industry can be regarded as a group of companies which are associated on the basis of chief activities of business ("Industry", 2019).. The significance of an analysis of an industry in a business plan is stated as follows: ? It is an essential component of any investment which is wanted to be made by an individual.