Services and their varied sectors

Service
A service according to (Stauss 2005) is the application of specialized competences (knowledge and skills) through deeds, processes, and performances for the benefit of another entity or the entity itself.

Souce -http://wrestcorp.com/service-marketing.html

Distinguishing Factors
Intangibility Inseparability Perishability

Heterogeneity
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Theory of progression
Economies tend to follow a developmental progression. It takes them from a heavy reliance on agriculture and mining, toward the development of manufacturing (e.g. automobiles, textiles, shipbuilding, steel) and finally toward a more service-based structure. The first economy to follow this path in the modern world was the United Kingdom.
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Service Sector Contribution - World

# 0 1 2 3 4 5 6 World United States China Japan Germany France United Kingdom Country 5.9% 1.12% 10.1% 1.2% 0.8% 1.9% 0.7% Agri. Indus. 30.5% 19.1% 45.3% 27.5% 28.1% 18.3% 21% Serv. 63.6% 79.7% 44.6% 71.4% 71.1% 79.8% 78.3%

Brazil

5.4%

27.4%

67.2%
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Service Sector Contribution - India

GDP Contribution per Sector (2011)

18.10%

Agriculture Industry 55.60% 26.30% Services

Service Sectors
Government Telecommunication Hospitality industry/Tourism Mass media Healthcare/hospitals Public health Information technology Waste disposal Financial services
Banking Insurance Investment management

FMCG Professional services

Accountancy Legal services Management consulting

Consulting Gambling Retail sales Franchising Real estate Education

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Banking Sector
Indias banking sector is currently valued at Rs 81 trillion (US$ 1.31 trillion). Has the potential to become the fifth largest banking industry in the world by 2020 and the third largest by 2025, according to an industry report With the Parliament passing the Banking Laws (Amendment) Bill in 2012, RBI can make final guidelines on issuing new bank licenses.
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Banking Sector

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Trends in Banking
1. Increase in ATM usage.

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Trends In Banking
2. Key driver has been Personal Finance.

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India and the world

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India and the World

Low Banking Penetration

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IT Sector

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Growth in IT Sector

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Dominant Players

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Revenue Break up

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Healthcare Sector

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Fast Growing Sector

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Dominance of Private Sector

Healthcare Spending in 2005 Healthcare Spending in 2015

19 36 64

Govt.
Private 81

Govt.
Private

Source: Grant Thornton, LSI Financial Services, Aranca Research

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Key Players

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Medical Tourism

Medical tourism market is expected to expand at a CAGR of 27 per cent to reach USD3.9 billion in 2014 from USD1.9 billion in 2011
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Telecom Sector

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Growth in Wireless Subscriptions

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Growth in Internet Subscriptions

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Strong growth in Broadband Subscriptions

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Major Players
Wireless Segment -> Bharti Airtel is the market leader, with a 21.7 per cent share of total subscription; Vodafone follows with a 17.6 per cent market share. Fixed Line Segment : BSNL is the market leader with a 67.7 per cent share followed by MTNL with 11.5 per cent market share Broadband Subscriptions BSNL has the largest share (66.0 per cent) of the total broadband market , with the second being Bharti Airtel (9.3 per cent).
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