A mature industry is one that has passed both the emerging and growth phases of industry growth. Companies in these industries tend to be larger, older, and more stable.

At the beginning of the industry lifecycle, new products or services find use in the marketplace. Many businesses may spring up trying to profit from the new product demand. Over time, failures and consolidations will distill the business to the strongest as the industry continues to grow. This is the period where the surviving companies are considered to be mature. Eventually, growth is predicted to slow as new innovative products or services replace existing industry offerings and begin a new industry lifecycle.