Sunset Industry
A sunset industry is an industry in decline, one that has passed its peak or boom periods. As one example, analogue recording technologies for audio or video have been supplanted by digital equivalents; although analogue equipment is still offered, sales have declined dramatically and are not expected to recover, so this segment of the market has been branded a 'sunset industry'. Many countries try to protect domestic sunset industries as they still provide important employment. They use protectionism policies to slow down the decline whilst sunrise industries develop.
An industry that has existed for a long time and that is less successful and making less profit than previously
Sunset Industry
A sunrise industry is one that is new or relatively new, is growing fast and is expected to become important in the future.
Examples of sunrise industries include hydrogen fuel production, petrochemical industry, food processing industry, space tourism, and online encyclopedias.
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