Definition of service industry. Information technology (IT) is an important business service that supports many other business services such as procurement, shipping and finance. An industry made up of companies that primarily earn revenue through providing intangible products and services. Also called service sector, tertiary sector of industry.
See also primary industry, secondary industry.
Business services are services that are primarily consumed by organizations. The following are common types of business service. As with all services, their primary value is intangible, meaning value that has no physical form.
The essential difference is that businesses are concerned about the building of service systems in order to deliver value to their customers and to act in the roles of service provider and service consumer. The professional and business services supersector is part of the service-providing industries supersector group. Management of Companies and Enterprises: NAICS 55.
It is a large and varied industry super sector that includes everything from law offices , engineering services , and computer systems design to company headquarters to temporary help firms , call centers , and janitor services.