People turn to confuse a lot when it comes to these two terms. A Niche, and An Industry it is true that a niche is much more smaller component of an industry, but what else?
Any more helpful hints that can clarify people more in this subject?

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Niche is a focused, targetable part of a market / industry

Industry is a basic category of business activity. The term industry is sometimes used to describe a very precise business activity (e.g. semiconductors) or a more generic business activity (e.g. consumer durables).

So if Consumer Durable is an Industry then Television can be a Niche of it.

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Mr_Fred
Payday Loans | Same Day Loans
Blogs: General Finance Blog

You got it pegged already.

A niche is a small part of an industry.

It's also a new buzzword & cliche like "grow your business".
(which makes me snicker when anyone uses it)

It is a result of the intense competition on the internet for every industry.
They are really telling you to 'specialize' in a specific product or service rather then try to be "everything for everyone".

Yup, Mr_Fred has explained it well. Niche is targeted portion of an industry or market.

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Andy Michaels
A Journey to Independence

Yes it is a smaller component but much more specific than that. You could sell paper products as an industry and narrow that down to a very very specific size, grain and weight and I'm sure go even further than that. I don't know much about paper