Laggard industry definition
/What is a Laggard Industry?
A laggard industry is a market niche that is growing at a reduced rate from the general economy or shrinking. There are numerous reasons for this behavior, such as being negatively impacted by technological change, the shifting of work to a lower-cost country, competition from adjacent niches, and the negative effects of tax laws. A business operating within a laggard industry needs to be especially careful in controlling costs, since its revenues are more likely to be declining.