What are connected services?
Four sectors, which we call connected services, are key to a services-led economic transformation. They are critical to supply chains and are frontrunners in use of digital technology. They contribute directly and indirectly to economic growth and development.
Business and professional services
Supply expert advice and support to other companies or consumers.
Examples: legal and accounting activities, management consulting, office administrative support, recruitment, call centres, travel services, security provision.
Finance
Make credit and money management tools available to individuals and corporations.
Examples: financial technology firms, investment companies, banks, insurers, value chain financing tools, digital payment systems.
ICT
Provide hardware and software products and ICT-related services to facilitate access, use, storage and exchange of information.
Examples: business management software, cloud computing, big data, machine learning, telecommunications activities, web search portals.
Transport and logistics
Move products and people to where they need to be.
Examples: freight and warehousing, cargo handling, postal and courier activities, and companies operating in airports, tunnels, bridges and ports.
Connected services, competitive businesses
Four services sectors are key to an economic transformation. This report calls them ‘connected services.’ Transport and logistics, financial services, information and communication technologies, and business and professional services contribute directly to economic growth – with an increasing share of output, trade and jobs. These sectors also contribute indirectly, making other firms more competitive by connecting them to global value chains and digital innovations. For example: in regions with high-quality connected services, 44% of all companies export, compared with 19% of firms where the quality of connected services is lower.
Connected services spur inclusive growth that is favourable for small businesses, including those led by women and young people. Yet most small firms in developing countries do not access them easily. This report explores the measures that companies, business support organizations and policymakers must take to help connected services flourish – to benefit all firms, foster more prosperous economies and build more inclusive societies.
Quick quiz
Test your knowledge about connected services.
ABOUT US
The International Trade Centre is the joint agency of the World Trade Organization and the United Nations. We promote trade-led growth in developing countries.
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Copyright: International Trade Center, unless otherwise indicated.
ABOUT US
The International Trade Centre is the joint agency of the World Trade Organization and the United Nations. We promote trade-led growth in developing countries.
SHARE THIS PAGE