Industrial Services Market Expansion Continues, with Forecast Valuation of $47.12 Billion by 2029

Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

Industrial Services Market Size Growth Forecast: What to Expect by 2025?
In recent years, there has been considerable expansion in the industrial services market. The market size, which is set to grow from $35.06 billion in 2024, is anticipated to hit $37.1 billion by 2025, maintaining a compound annual growth rate (CAGR) of 5.8%. Factors such as economic expansion and industrialization, rising demands for automation and efficacy, infrastructure development funded by the government, as well as the digital revolution across different sectors, are notable contributors to the growth experienced in the past.

How Will the Industrial Services Market Size Evolve and Grow by 2029?
The size of the industrial services market is predicted to experience a substantial rise in the forthcoming years. The market is set to hit $47.12 billion by 2029, growing at a 6.2% compound annual growth rate (CAGR). Factors contributing to this growth during the forecasted period include increased demand for distributed control systems (DCS), the proliferation of Industry 4.0 and Internet of Things (IoT) technologies, incorporation of artificial intelligence (AI) and data analytics in industrial operations, and heightened emphasis on predictive maintenance and remote monitoring. The forecasted period will also see significant trends such as advancements in industrial procedures, IoT sensors, evolution of human-machine interfaces (HMI), and manufacturing execution systems (MES).

View the full report here:
https://www.thebusinessresearchcompany.com/report/industrial-services-global-market-report

What Drivers Are Propelling the Growth of Industrial Services Market Forward?
The surge in demand within the automation sector is anticipated to boost the expansion of the industrial services market in the future. The automation industry is defined as the field that employs assorted technologies and systems to execute tasks with minor human interference. Factors contributing to increased demand in the automation sector include the necessity for boosted proficiency, decreased expenses, amplified safety, and improved data analytics. Automation in industrial services is employed to maximize operational efficacy, minimize labor expenses, enhance precision, and guarantee consistent quality across varied manufacturing and processing tasks. For example, in December 2023, Formstack, an American software firm, revealed that 76% of businesses utilize automation to mechanize their daily workflows, 58% use it for automating data and reporting for planning objectives, and 36% comply with regulations. Accordingly, the ascendant automation sector is propelling the expansion of the industrial services market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=8841&type=smp

What Long-Term Trends Will Define the Future of the Industrial Services Market?
A key trend gaining momentum in the application testing services market is the strategic partnerships and collaborations. To consolidate their standing in the industrial services market, major companies are entering into partnerships. A case in point is the partnership established in August 2022 between Tech Mahindra, a company from India functioning in Industrial services, and Soroco, a US-based work graph company, the financial details of which are not disclosed. This alliance is designed to assist customers in fostering a culture of improvement and assimilating the top industry practices into their operations. It would also enable customers to employ AI-based process discovery and mining technology, resulting in improved outcomes.

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

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=8841&type=smp

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.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=8841

This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Saumya Sahey
Europe: +44 7882 955267,
Asia: +44 7882 955267 & +91 8897263534,
Americas: +1 310-496-7795
Email: saumyas@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.