Serviceberry trees have very thin bark.  This damage can be from insects and/or frost.  Recovery depends on how deep the crack is. If the crack circles the tree and goes through the cambium layer, it can cut off nutrients moving from the roots to the leaves and from the leaves back down to the roots.  Insect pests invading a tree usually show damage to the canopy as well. This is likely either frost cracks/sunscald or deer, rabbit or vole feeding. If this is a high value tree an onsite visit by an arborist can give a more detailed assessment.  They can measure the depth of the cracks and determine the amount of damage and what to do about.

Also using a tree guard for the winter months can be helpful to keep pests out and minimize sunscald/frost cracks. Another suggestion is to use a better method of staking trees that allows the tree to move.  This movement is critical to good root development.

Read more about these issues at the following websites.
1. https://apps.extension.umn.edu/garden/diagnose/plant/deciduous/serviceberry/barkchewed.html

2. https://extension.umn.edu/planting-and-growing-guides/protecting-trees-and-shrubs-winter

3. https://extension.umn.edu/planting-and-growing-guides/staking-and-guying-trees

4.  https://extension.umn.edu/planting-and-growing-guides/how-hire-tree-care-professional
5. https://wp.towson.edu/glenarboretum/home/common-serviceberry/