An industry group is a collection of companies that operate in the same sector or share similar business activities. These groups help businesses collaborate, share best practices, and address common challenges. For example, the automotive industry includes manufacturers, suppliers, and service providers related to vehicles. Industry groups often provide resources such as research, networking opportunities, and advocacy for their members. They can also influence policy decisions that affect their sector. Examples of industry groups include the National Association of Manufacturers and the American Medical Association, which represent their respective fields and support their members' interests.