A Smarter Way to Benchmark: Inside Speeda’s Unique Industry Classification System

Speeda’s Proprietary Framework Powers Faster, Relevant Business Insights

As industries evolve and business models become increasingly complex, traditional classification systems like global standard industry classification (SIC) or local codes have failed to keep pace. This poses a serious problem for professionals trying to benchmark companies, explore markets, or understand emerging sectors—especially in Asia, where digital transformation is outpacing regulation.

That’s why Speeda created its own industry classification system, covering nearly 600 sectors, supported by over 3,000 analyst-written industry reports. Designed for relevance, granularity, and speed, this system forms the backbone of Speeda’s platform—and helps users benchmark companies the way businesses actually operate today.

Below, we explore what makes Speeda’s system different, why it was necessary, and how it helps users make smarter decisions—faster.

Static Codes Can’t Keep Up with Dynamic Businesses

|  Legacy systems miss the nuances of new industries

Most global or local classification systems—like SIC, NAICS, or MSIC—were designed for government reporting or statistical tracking. While useful for that purpose, they were never built for modern industry analysis or competitive benchmarking.

In many Southeast Asian countries, local SIC codes haven’t been significantly updated in over a decade. As a result, high-growth sectors like:

• AI and machine learning
• E-commerce platforms
• On-demand logistics
• Healthtech and fintech

…are often lumped under outdated or irrelevant categories like “Software services”, “Other IT activities”, or “Courier services”—making it extremely difficult for analysts to find relevant firms, let alone benchmark them.

We Built a System That Mirrors Real Business Structures

|  Three-tiered classification with nearly 600 distinct industries

Speeda’s system breaks each sector down into three levels of granularity, from macro industries to hyper-specific verticals. For instance, under the software category alone, Speeda separates software for healthcare, e-commerce, AI, marketing and more into their own categories. This enables users to filter companies based on what they actually do, not just how they were originally registered or labelled a decade ago.

Screenshot from Speeda on some of its industry classification

|  Continuously updated by analysts—not software alone

Unlike static code systems, Speeda’s classifications are actively maintained by a team of in-house analysts. As industries change or new business models emerge, Speeda adapts—often far ahead of regulatory bodies.

For example, as ride-hailing firms pivoted into delivery and financial services, Speeda didn’t wait years to reclassify them. These firms were quickly mapped across relevant categories like take-away/delivery, online food delivery, buy now pay later (BNPL), and more. This agility allows users to stay aligned with how the market is actually moving.

Real Benchmarking Requires Realistic Industry Mapping

|  Firms operate across multiple industries—Speeda reflects that

Most firms today are not easily categorised under a single industry. Traditional codes force a choice: pick one. Speeda allows for multi-industry mapping, so that companies with diverse operations are benchmarked appropriately.

Take Grab, for example. In local SIC, it might appear only as a transport company. On Speeda, it’s classified under multiple industries like ride-hailing, online food delivery, e-commerce logistics, and more. This multi-dimensional tagging means Speeda users can benchmark across all applicable industries, whether evaluating peers, sizing markets, or identifying competitors.

|  Speeda: The Go-To Platform for Asian Private Company Intelligence and Industry Insights

Unlock data on 9M+ companies globally—especially private firms in ASEAN, China, Japan, Korea, and India—paired with over 3,000 analyst-written industry reports. Speeda combines deep private company coverage, structured classifications, and benchmarking tools that save hours of research.

• Access detailed business profiles, financials, ownership, and M&A activity.
• Benchmark public and private firms side by side with intelligent industry mapping
• Dive into sector-specific research, competitive landscapes, and value chains
• Customise your intelligence with on-demand research services across emerging or niche sectors
• Track trends, deals, and fundraising with advanced filters and local insight

Whether you’re screening targets, analysing competitors, or exploring new markets, Speeda delivers the clarity, consistency, and speed professionals need—without the noise.

Speeda is Asia’s leading business intelligence platform, built to empower business professionals with robust, localised, and on-demand data. With coverage of over 11 million private companies—including deep financials where available.

Reach out to us to explore how Speeda can support your investment strategy today.