Key Industries in the US Economy and What Major Companies Contribute to Them

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The US economy is made from a core group of key industries. Each of them has several large companies that bring in revenue every year. Below are some of the most important industries and the biggest companies involved.

The United States is the biggest economy in the world. Despite competition from several emerging nations, it has remained that way since the early sixties. The reason it has grown so strong has been through a varied selection of businesses bringing revenue into the country. Below, we discuss the biggest industries and the companies that work with them.

Online Gambling

The online gambling industry has grown immeasurably over the past few years. This has been down to several factors. Firstly, US states have begun to legalize online casinos and gaming. On top of this, the sector has made massive improvements regarding customer service and has swelled its ranks with new players using attractive bonuses and offers. However, the biggest factor is its provision of innovative online games. That is where NetEnt comes in.

One of the biggest developers of online gambling games like slots and table games including poker and baccarat, it continues to forge ahead. Part of the Evolution Gaming Group, they have been providing games for over 20 years. iGaming favorites such as the Starburst franchise belong to them, and they are known for doing tie-in titles with video games and celebrities like Ozzy Osbourne. They also have their own branded operations, so anyone specifically seeking NetEnt casinos can find them easily online.

NetEnt has its base in Sweden, but a lot of its products are sold through the US and to US gamers. Their estimated revenue is in the range of $1 billion-plus, making them one of the most important companies in the US today.

Commercial Banking

The US financial sector is one of the biggest and strongest in the world. When it comes to commercial banking, the arm that deals with businesses and individuals, JP Morgan Chase is the largest according to data by the Federal Reserve Board. It is the largest bank in the world by investment and the fifth largest by assets.

Back in 1799, the company was founded as the Chase Manhattan Company. J P Morgan and Co. was founded in 1871 providing commercial, investment, and private banking services. When they merged in 2000, they became the company that exists today.  Today the bank has around 4912 banks on US soil and 32 branches in foreign countries. This brings in around $265.868B in revenue each year.

Healthcare

The US healthcare system encompasses many different facets. It can be broken down into areas such as health and medical insurance, pharmaceutical wholesaling, and finally, the hospitals that provide the service. One of the biggest providers of hospitals in the US is HCA Healthcare, currently standing at 219 hospitals across the country.

The company was founded in Nashville in 1968. Originally, it started with just one hospital there. The vision was that the company would deliver patient-centric care while using the combined resources of the company to improve medicine. It had a period of mergers in the seventies and eighties which increased its market reach.

As well as hospitals it has clinics, urgent care centres, and over 200 sites of care. As well as operating in 21 US States, it has services available in the UK. An annual revenue of $66.716 billion comes from HCA Healthcare, and this has grown by just under 10% year upon year.

Drug, Cosmetic, and Toiletry Wholesaling

The primary product sold in this sector is pharmaceuticals. It has always been an area that is a necessity and has done well, bringing in billions to the US economy. However, it has recently been bolstered as many drugs have lost patent exclusivity and the federal government has attempted to make them more affordable. This has driven up the need for wholesalers.

The McKesson Corporation is one of the biggest suppliers in this field. It brings in $308.9 billion each year. As well as pharmaceuticals, it also provides health management tools and medical supplies. It is the world's largest healthcare company and the ninth-biggest company by revenue in the US.

The company was founded as far back as 1828. Originally, it was an importer of botanical drugs. It has since had several takeovers and mergers until it was the company known today. It has holdings around the world, including Canada, the UK Australia, and New Zealand.

Other Major Sectors

Many other major sectors contribute to the US economy that are not included in this list. They range from gasoline and petroleum, retirement and pension plans, insurance, automobiles, and public schools. This sits atop a foundation of much smaller businesses and sectors, which all funnel money into the economy. As the world changes and the digital sphere increases its reach, these sectors are bound to present new opportunities and enhance the economy further.

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