Industrial services

In devel­oped economies, the service sector makes up for the majority of the market in com­par­ison to primary and sec­ondary sectors. Looking back at the past century, the more devel­oped economies have trans­formed from being man­u­fac­turing based to a service-ori­ented market. 

With the advance­ment of tech­nology, labor pro­duc­tivity has tremen­dously increased, which lead to a bigger output of resources while less labor is required. This imbal­ance results in a very com­pet­i­tive market envi­ron­ment in which firms need to make use of the latest tech­no­log­ical progress to stay com­pet­i­tive. Addi­tion­ally, as incomes con­tinue to rise, the demand becomes less mate­ri­al­istic, shifting to ser­vices such as health, edu­ca­tion, and entertainment. 

The issue in com­par­ison with the primary and sec­ondary sector is that these jobs majorly cannot majorly be replaced by machines, making it more expen­sive. This high­lights once again the impor­tance of IT, allowing indi­vid­uals to improve their pro­duc­tivity. The days in which IT was just con­sid­ered a tool are over and the impor­tance of busi­ness IT align­ment is now put into the spot­light of nearly every oper­ating company. 

 

Jonathan Müll

Business Development Manager