An industry in the growth stage of its life cycle is indicated by what?

An industry in the growth stage of its life cycle is characterized by increasing demand for its products or services, leading to rising sales and revenues. This stage often sees the emergence of new competitors entering the market, as well as significant investment in innovation and expansion. Additionally, companies may focus on improving their production processes and marketing strategies to capture a larger share of the market. Overall, the growth stage is marked by optimism and potential for profitability.