Rising Demand In The Automation Industry Fuels Growth Of The Industrial Services Market Growth: Pivotal Factor Influencing Industrial Services Market Growth in 2025

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Industrial Services Market Size Growth Forecast: What to Expect by 2025?
In the past few years, there has been substantial growth in the industrial services market size. Projections indicate that it will swell from $35.06 billion in 2024 to $37.06 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.7%. This impressive growth during the historic period can be traced back to factors like economic expansion and industrial progress, a rising demand for automation and efficiency, government-led infrastructure development investments, and the digital transformation sweeping through diverse industries.

How Will the Industrial Services Market Size Evolve and Grow by 2029?
The market size of industrial services is projected to experience robust growth in the coming years, reaching a value of $46.96 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 6.1%. This escalating growth rate in the projected time frame is the result of increasing demands for distributed control systems (DCS), the deployment of Industry 4.0 and Internet of Things (IoT) innovations, the application of artificial intelligence (AI) and data analysis in industrial procedures, and an enhanced emphasis on predictive upkeep and remote surveillance. The forecast period will see significant trends such as technological advancements in industrial operations, IoT sensors, the creation of human-machine interfaces (HMI), and the development of manufacturing execution systems (MES).

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What Drivers Are Propelling the Growth of Industrial Services Market Forward?
The growth of the industrial services market is anticipated to be propelled by the increasing demand in the automation industry. The automation industry is the sector that employs diverse technologies and systems to carry out tasks with limited human intervention. The escalation in demand for automation arises from aspects like the requirement for enhanced efficiency, cost curtailment, heightened safety, and bettered data analytics. Industrial services utilize automation to augment operational efficiency, curtail labor costs, heighten precision, and ensure uniform quality across a range of manufacturing and processing tasks. As an example, Formstack, a software company based in the US, revealed in December 2023 that 76% of firms employ automation to automate their day-to-day workflows. Moreover, 58% use it for automating data and reporting for planning, and 36% of companies use it to meet regulatory requirements. As a result, the burgeoning automation industry contributes to the expansion of the industrial services market.

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Which Emerging Trends Are Transforming the Industrial Services Market in 2025?
There is an emerging trend of strategic alliances and cooperation in the application testing services market. Significant players in the industrial services field are entering these partnerships with the aim of solidifying their standing in the market. Taking an example from August 2022, Tech Mahindra, a firm based in India which provides industrial services, went into partnership with Soroco, a work graph company in the US for a yet to be disclosed amount. Through this partnership, they aim to assist their customers in fostering a culture of continuous enhancement, integrating the top industry practices to their operations. In addition, customers will have access to AI-powered process discovery and mining technology to attain improved results.

What Are the Key Segments in the Industrial Services Market?
The industrial services market covered in this report is segmented -

1) By Type: Engineering And Consulting, Installation And Commissioning, Operational Improvement And Maintenance
2) By Application: Distributed Control System, Programmable Logic Controller, Supervisory Control And Data Acquisition, Electric Motors And Drives, Valves and Actuators, Human Machine Interface, Manufacturing Execution System, Safety Systems, Industrial PC, Industrial 3D Printing, Industrial Robotics
3) By End-User: Oil And Gas, Healthcare And Pharmaceuticals, Chemicals, Automotive, Water And Wastewater, Chemicals, Food And Beverages, Energy And Power, Semiconductor And Electronics, Paper And Pulp, Metals And Mining, Aerospace, Other End Users

Subsegments:
1) By Engineering And Consulting: Design Engineering, Process Engineering, Environmental Consulting, Safety And Compliance Consulting
2) By Installation And Commissioning: Equipment Installation, System Integration, Start-up And Commissioning Services
3) By Operational Improvement And Maintenance: Process Optimization, Preventive And Predictive Maintenance, Troubleshooting And Repair Services, Training And Support Services

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Who Are the Key Players Shaping the Industrial Services Market's Competitive Landscape?
Major companies operating in the industrial services market include Mitsubishi Electric Corporation, Siemens AG, General Electric Company, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Schlumberger Limited, Baker Hughes Company, Halliburton Company, Bechtel Corporation, Jacobs Engineering Group Inc., Fluor Corporation, Emerson Electric Co., SKF AB, McDermott International Inc., Rockwell Automation Inc., WorleyParsons Ltd., TechnipFMC plc, KBR Inc., SNC-Lavalin Group Inc., Metso Outotec Oyj, Weatherford International plc, Yaskawa Electric Corporation, Fuji Electric Co. Ltd., Yokogawa Electric Corporation, Petrofac Limited, Wood Group Mustang lnc., Samson AG, Wunderlich-Malec Engineering Inc., Dynamysk Automation Ltd., National Oilwell Varco Inc., Cameron International Corporation, Endress+Hauser AG, Eaton Corporation plc, Parker Hannifin Corporation, Danaher Corporation, Johnson Controls International plc, 3M Company, Illinois Tool Works Inc., Stanley Black & Decker Inc.

What Geographic Markets Are Powering Growth in the Industrial Services Market?
Asia-Pacific was the largest region in the industrial services market share in 2024. The regions covered in the industrial services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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