Global Industrial Services Market Report 2023: Forecasted at $59.1 Billion by 2028 with High CAGR in Food and Beverage Sector

Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The "Industrial Services Market by SCADA, Distributed Control System, Manufacturing Execution System, Safety Systems, Motors & Drives, Industrial Robotics, Industrial 3D Printing, Industrial PC, PLC, Service Type, End-user Industry - Global Forecast to 2028" report has been added to's offering.

The global Industrial Services market is set to witness substantial expansion, with a forecasted valuation of USD 59.1 billion by 2028. Demonstrating a robust Compound Annual Growth Rate (CAGR) of 8.6% from 2023 to 2028, industrial services are increasingly pivotal in integrating Industry 4.0 technologies like IoT and AI, which are elevating efficiency and performance within the sector.

The market study delves into the industrial services' role across various end-user industries with significant focus on the food and beverage sector, which is expected to experience the highest CAGR. Striving for operational efficiency amid stringent safety standards, the food and beverage industry is increasingly adopting automation and data analytics. Industrial services facilitate the integration of these modern technologies accelerating advancements in production and quality control.

With North America positioned as the second-largest market share holder, the region's industries lead in adopting cutting-edge technologies and industrial services that support their development and maintenance. Investments by North American governments and organizations into infrastructure projects are also showcasing the importance of industrial services in diverse industry applications.

Key Market Players and Segmentation

The industry is witnessing strategic growth with key players such as ABB, Honeywell International Inc., Rockwell Automation, Schneider Electric, and Siemens leading the market in providing top-notch industrial services. These players are fundamental in driving innovation and ushering the sector into the future.

Key Report Offerings

The report brings to light the core drivers such as the integration of Industry 4.0, growth in the manufacturing sector, and the aging infrastructure that offer opportunities amid challenges like rapid technological advancement and a competitive environment. It further presents detailed insights on product innovation and technological advancements expected to shape the market.

Offering holistic market development insights, the study provides valuable information on emerging market opportunities and strategic developments, driving competitive assessment and resourceful decisions for stakeholders across various regions and sectors within the industrial services market.

In summary, this deep-dive into the Industrial Services market sheds light on the pivotal roles of engineering, technological integration, and constant innovation required to meet the evolving demands of the industrial sector ultimately contributing to robust economic growth and technological sophistication.

The document segments the market by:

  • Service Type: Engineering & Consulting, Installation & Commissioning, Operational Improvement & Maintenance
  • Application: Motor & Drives, DCS, PLC, SCADA, MES, HMI, Safety Systems, Industrial Robotics, Industrial 3D Printing, Industrial PC
  • End-user Industry: Automotive, Aerospace, Chemical, Food & Beverage, Energy & Power, Oil & Gas, Pharmaceuticals, Metals & Mining, Paper & Pulp, Semiconductors, Water & Wastewater, and others
  • Region: North America, Europe, Asia Pacific, and RoW

Key Attributes:

Report AttributeDetails
No. of Pages261
Forecast Period2023 - 2028
Estimated Market Value (USD) in 2023$39.1 Billion
Forecasted Market Value (USD) by 2028$59.1 Billion
Compound Annual Growth Rate8.6%
Regions CoveredGlobal

Companies Mentioned

  • ABB
  • Alstom SA
  • Atlas Copco Ab
  • Ats Corporation
  • Cummins Inc.
  • Danaher Corporation
  • Eaton
  • Emerson Electric Co.
  • General Electric
  • Honeywell International Inc.
  • Ingersoll Rand
  • Intech
  • Metso
  • Mitsubishi Electric Corporation
  • Parker Hannifin Corp
  • Prime Controls, Lp
  • Rockwell Automation
  • Samson AG
  • Schneider Electric
  • Siemens
  • Skf
  • Wunderlich-Malec Engineering, Inc.
  • Wärtsilä
  • Yaskawa Electric Corporation
  • Yokogawa Electric Corporation

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Global Industrial Services Market

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