Services Industry Overview

A service can be defined as a transaction between a buyer and a seller without the transfer of any physical goods or commodities. It mainly involves the use of resources, experience, skill, ingenuity, and intelligence. Main characteristics of a services include intangibility, simultaneous production and consumption, and inseparability of the services provider and consumer. Services market in this report is segmented into commercial services, real estate, leasing, civic services, and personal services.

The civic services industry comprises establishments that operate religious, social, and professional organizations. These establishments also offer other civic and recreational services to their members. Major examples of civic services organizations include community associations or organizations, ethnic associations, fraternal associations or lodges, girl guiding organizations, history societies, parent-teacher associations, retirement associations, scouting organizations, and students' associations. Civic services market in this report is segmented into NGOs and charitable organizations, political organizations, unions and associations, and religious organizations.

The real estate industry includes establishments involved in renting, leasing and allowing the use of tangible or intangible assets, and providing related services. It also includes managing real estate for others, selling, renting and buying real estate for others and appraising real estate.

The leasing services market comprises establishments that provide the use of a wide variety of tangible goods such as consumer goods, industrial machinery and equipment, automobiles and others and assign intangible assets such as trademarks to customers in return for a periodic rental or lease payment.

The commercial services market comprises establishments that perform support activities for the day-to-day operations of other businesses or organizations. Establishments in this market specialize in one or more of these support activities which in other cases are often undertaken in-house. Some of these support activities are offered to households.

The personal services market consists of establishments which provide personal services such as equipment and machinery repairing, personal and household goods repair and maintenance, dry cleaning and laundry, beauty and personal care services, pet care services, death care services, photofinishing services and domestic services such as domestic cleaning and cooking.

The personal services market consists of establishments which provide personal services such as equipment and machinery repairing, personal and household goods repair and maintenance, dry cleaning and laundry, beauty and personal care services, pet care services, death care services, photofinishing services and domestic services such as domestic cleaning and cooking.

The commercial services market comprises establishments that perform support activities for the day-to-day operations of other businesses or organizations. Establishments in this market specialize in one or more of these support activities which in other cases are often undertaken in-house. Some of these support activities are offered to households.