Service Industries
Service industries are sectors of the economy that provide services rather than goods. These industries include a wide range of activities such as healthcare, education, hospitality, and finance. They focus on delivering value through intangible offerings, like expertise, support, and experiences, rather than physical products.
The growth of service industries has been significant in recent years, often outpacing traditional manufacturing sectors. This shift reflects changes in consumer preferences and technological advancements, leading to increased demand for services like online banking, telemedicine, and e-learning. As a result, service industries play a crucial role in modern economies.