An increase indicates growing recurring revenue streams and a larger installed base of equipment under contract, while a decrease may signal reduced customer retention or a shrinking service footprint.
This metric represents the total revenue generated from recurring maintenance, repair, monitoring, and lifecycle support...
Peers in the building technology and industrial services sectors typically report this as 'Service Revenue' or 'Aftermarket Revenue' to highlight the recurring nature of their business model.
jci_segment_services_total