The Service sector is often considered the tertiary sector of many global economies, with the others being the secondary sector or manufacturing and the primary sector being agriculture.
As the name suggests, the service sector consists of the service-focused portion of the economy, such activities where companies or individuals offer their knowledge and time to improve productivity, performance, or opportunities.
The basic characteristic of this sector is the production of services instead of tagible products. Services (also known as "intangible goods") include attention, advice, experience, and discussion.
For decades, there has been a substantial shift from the primary and secondary sectors to the tertiary sector in industrialized economies. This sector is now the largest sector of the economy in the Western world, and has also seen the fastest growth.
The business services industry, a subset of the Services sector, is focused on services explicitly offered to businesses and includes accounting, human resources, consulting, facilities management, leasing, security, and numerous other functions.