Industrial Services Market

Industrial Services Market worth 35.41 Billion USD by 2023

According to the new market research report "Industrial Services Market by Type (Engineering and Consulting, Installation and Commissioning and Operational Improvement and Maintenance), Application (PLC, SCADA, HMI, DCS, MES, Electric Motors & Drives, Valves & Actuators, and Safety Systems), Industry, and Region - Global Forecast to 2023", the industrial services market is expected to be valued at USD 35.41 Billion by 2023, growing at a CAGR of 5.4% between 2017 and 2023. The factors that are driving the growth of this market are the growing need for operational excellence, increasing demand for maintenance as a service, and increasing equipment complexity.

Browse 66 Market Data Tables and 57 Figures spread through 161 Pages and in-depth TOC on "Industrial Services Market - Global Forecast to 2023"
Early buyers will receive 10% customization on reports.

“Industrial services market for operational improvement and maintenance services expected to grow at the highest CAGR during the forecast period”

The industrial services market for operational improvement and maintenance services is expected to grow at the highest CAGR between 2017 and 2023. The operational improvement and maintenance services help the end users to improve the lifecycle of the asset and reduce the downtime. Growing equipment complexity would help the market for scheduled maintenance to grow in the coming years.

“The industrial services market for the automotive industry to grow at a highest CAGR between 2017 and 2023”

Among various industries, the automotive industry accounted for the highest CAGR of the overall industrial services market between 2017 and 2023. In the automotive industry, there are processes such as welding, cleaning, and assembly, which are time-consuming and hence need to be automated. The use of micro PLC helps in monitoring the production processes, thereby reducing the time required for production and resulting in increased efficiency. The growing demand for micro and nano PLCs in the automotive industry is driving the industrial services market.

“Asia Pacific expected to lead the industrial services market between 2017 and 2023”

Asia Pacific is expected to hold the largest size of the industrial services market during the forecast period. This growth is mainly attributed to the expansion of industrial automation and related services in China, Japan, and India. With the growing trend of cloud connectivity in the APAC, industries would adopt Industrial Internet of Things (IIoT)-based remote monitoring and predictive maintenance services in this region.

The major players operating in the industrial services market are Omron Corporation (Japan), Mitsubishi Electric (Japan), Fuji Electric (Japan), Yaskawa (Japan) Schneider Electric (France), Wood Group Mustang (US), SKF AB (Sweden), ATS Automation (Canada), INTECH Process Automation (US), and Dynamysk Automation Ltd (Canada).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Rohan
MarketsandMarkets™ Research Pvt. Ltd.
Tower B5, office 101,
Magarpatta SEZ,
Hadapsar, Pune-411013.
Email: [email protected]

Report Code
SE 5408
PR Published ON
Choose License Type
Request Customization
Speak to Analyst
Speak to Analyst
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
  • What are the Known and Unknown Adjacencies Impacting the Industrial Services Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2020 MarketsandMarkets Research Private Ltd. All rights reserved

Digital Virtual Assistant - MarketsandMarkets