The current state and potential of innovative developments in the service industry

Abstract

The article analysis the actual state and examine the probable development course of the service industry in the light of the innovative scheme of the economic development. This work reviews the hypothesis that the service industry existing in the modern-day Russian circumstances where the market is at the stage of saturation with both the household and industrial goods becomes that branch of the economy which focuses not only on providing the functioning of the durable goods and satisfying the people’s needs for various services but it is also one of the major economic sectors which is capable to adapt to the realities of the modern life while there is the transition to a new technological paradigm. The present work substantiates the necessity to work out the theoretical and methodological grounds and the recommendations for the management in the field of braches of the service industry in the face of development of the innovative digital economy in order to provide the formation of the new technological paradigm considering the current forecasts. The proposed methods for solving the tasks consider the evolutionary innovative processes in the service industry, the concept of serviceology, methods of the management study at various levels of the national economy as well as the researches results in the frame of the digital economy development while creating the new technological paradigm in the Russia Federation.