A service market is competition to buy and sell intangible value. This can be contrasted with product markets that are venues of exchange for physical things. The global economy produces more intangible value than tangible value such that service markets are arguably bigger than product markets†. The following are illustrative examples of a service market.
Advertising | Arts & Culture | Business Outsourcing | Business Services | | Catering | Childcare | Cleaning | Cloud Computing | Club Goods | Construction | Consulting | Data Services | Delivery | Design Services | Ecommerce | Education & Learning | Engineering | Entertainment | Events | Financial Services | Health & Wellness | Healthcare | Home Builders | Home Renovation | Hospitality | Hotels | Information Services | Infrastructure | Insurance | Internet Services | Knowledge Services | Leasing | Logistics | Maintenance & Repair | Manufacturing as a Service | Media | Mobile Apps | Mobile Services | Moving Services | Night Economy | Performing Arts | Personal Services | Product Customization Services | Product as a Service | Professional Services | Recreational Facilities | Rentals | Restaurants | Retail | Retirement Homes | Software as a Service | Taxis | Technology Infrastructure | Technology Platforms | Technology Services | Theme Parks | Tours | Transportation | Travel | Utilities | Video Games | Warehousing Services | Waste Management |
In addition to services sold on markets there are public services that are provided by governments. For example, a road or park that is provided by a city.Club goods are services that provide access to large scale capital for a fee. For example, a ski hill or a theme park.Service markets can be broadly delineated into consumer services and business services.The night economy includes anything that people do at night such as diner theatre or pubs.Product as a service offers a product for a usage fee or recurring fee. For example, a city where you can rent bicycles for a low fee billed by the minute.
Service Market
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References† Services, Value Added, % of GDP, World Bank national accounts data, 2021.
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