Service Industry

Service industry refers to an industrial sector comprised of firms or other organizations whose main business is the provision of intangible products to clients and customers; this may include provision of access to the tangible products made by other sectors (e.g., the retail trade provides access to manufactured products). Service industries may provide their services to consumers (and the public at large), or to businesses or other organizations.

Consumers not only consume goods like motor cars, TV sets, canned foods. They also consume services—for example, garage services to support drivers, broadcasting services supplying TV content, retail services stocking food. The act of consumption can also be seen in terms of consumers producing some of their own services—driving the car produces a transport service, cooking food a ...

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