Importance of industrial services and service innovations

The service sector in general has become far more important in recent decades. This development can also be seen with respect to services in the investment goods industry or in the so called provision of industrial services. This paper raises the issue that industrial services are the main growth driver of today's economies and have a major potential for companies to increase their revenues. After the introduction and a short definition of services and service systems the paper will clarify the importance of industrial services on a theoretical basis. The paper aims to enhance the service systems model to broaden the understanding of the development of service innovations in the investment goods industry. The service systems approach will be used to discuss the influences on the development of service innovations on a theoretical basis.