Industry-dominated

Industry-dominated describes a situation, market, or sector where a particular industry or a small group of industries exerts significant control, influence, or dominance over other entities, activities, or sectors. This control can manifest through market share, regulatory capture, lobbying efforts, or the concentration of resources and expertise. It often implies a lack of diversity, competition, or countervailing power, potentially leading to skewed outcomes in terms of prices, innovation, or social welfare. The industry’s power might suppress alternate innovations, or new entrants. This dominance is particularly evident in sectors such as technology, pharmaceuticals, and energy, shaping the economic and political landscape.

Industry-dominated meaning with examples

• The town's economy was completely industry-dominated by a single coal company, which controlled employment, housing, and even local politics. This lack of diversity made the town vulnerable to economic shocks when the demand for coal declined. Alternative businesses and economic opportunities were stifled. This dependence hindered the growth of other sectors.
• In the early days of the internet, the advertising market was quickly industry-dominated by a few large tech companies. Their control over data and algorithms allowed them to dictate pricing and access. This created barriers to entry for smaller media organizations, changing the landscape of journalism and advertising.
• The proposed regulations for electric vehicles were subject to intense lobbying from the already industry-dominated automotive manufacturing sector, which aimed to shape the rules to their advantage. This control potentially hindered more disruptive technologies, slowing progress of the whole market and innovation to create competition.
• The pharmaceutical industry, often industry-dominated by large multinational corporations, faces criticisms over high drug prices and limited access to essential medicines. Their control over research, development, and distribution enables them to determine market availability, often at the expense of public health.
• Due to lack of government intervention, the financial sector became increasingly industry-dominated, leading to a concentration of wealth and power among a select few. This concentration enabled excessive risk-taking, eventually contributing to financial crises. This made the system unstable and dangerous.