The business falls under two industries: bicycle tours and bicycle rentals. Both industries fall into broader categories for classification by NAICS code. Bike tours are classified under the number 561520.05 in the broader tour operator category, 561520 (North…Tours, 2013) (Bizminer…Tours, 2013). Bicycle rentals are classified under 532292.02 as rental of recreational property, 532292 (North…Recreational, 2013) (Bizminer…Rentals, 2013). Industry Size and Growth RateCycle tourism is a small but growing industry growing rapidly in the United States. The annual market volume in 2013 was $91,248,066, up from $78,949,242 in 2012. The industry's sales growth rate between 2010 and 2013 was 42.59% (Bizminer…Tours, 2013). In Oregon alone, cycling travel and event businesses were worth $22.7 million in 2012 (Dean, February 2014, p. 16). The annual volume of the bicycle rental market in the United States shows a positive trend. For example, in 2011, the annual market volume in dollars was $113,318,798. This amount increased slightly in 2012 to $113,735,229, then saw greater growth in 2013 to $121,859,166 (Bizminer…Rentals, 2013). Industry MaturityThe bicycle travel industry is in a growth phase due to low competition and high sales growth rate compared to the national average (Bizminer…Tours, 2013). However, the tour operator industry has reached maturity, of which bicycle travel is a subcategory. The maturity of the tour operator sector comes from increased competition and low industrial value added of 3.8% compared to GDP growth of 2.7% (Jeon, 2014). According to Dean Runyan Associates, Inc. (February 2014), many companies in the bicycle touring industry are relatively young, at 13 years old (p. 8). Tour and event...... middle of paper...... CS%20Search Oregon Bicycle Laws. (nd). BikePortland.org. Retrieved April 20, 2014 from http://bikeportland.org/resources/bicyclelaws Ritchie, JRB, Molinar, CMA and Frechtling, DC (December 3, 2009). Impacts of the global recession and the economic crisis on tourism: North America. Journal of Travel Research, 49(5). DOI: 10.1177/0047287509353193 or http://jtr.sagepub.com/content/49/1/5.full.pdf+html Sebor, Jessica. (2006). And me. CRM Magazine, 10(11), 24-27. Sheatsley, David. (April 2013). Travel to Oregon. TravelHorizons Wave II 2013. Accessed April 24, 2014 from http://industry.traveloregon.com/wp-content/uploads/2014/04/Travel-Horizons-April-2013-Culinary-Extract.pdf Wright, MR (June 2006) . Psychographic Characteristics of the Millennial Generation: Developing Market Segmentation for Use in the Wine Industry. University of Oregon Applied Information Management.