According to a new report, published by KBV research, The Global Industrial Services Market size is expected to reach $68.8 billion by 2030, rising at a market growth of 8.2% CAGR during the forecast period.
The Automotive segment is registering a CAGR of 6 % during the forecast period. The automotive industry has been undergoing significant technological transformations, such as the development of electric vehicles (EVs), autonomous driving technologies, and connected vehicles. These advancements drive the demand for specialized industrial services related to these technologies. As a result, the segment will witness increased growth in the segment.
The Operational Improvement & Maintenance segment led the Global Industrial Services Market by Type in 2022; thereby, achieving a market value of $30.6 billion by 2030. Sensors and IoT devices track equipment health continuously. Real-time monitoring can detect irregularities, malfunctions, and performance deterioration early. Service providers in the operational improvement and maintenance segment leverage these technologies to optimize asset performance. Thus, the segment will witness increased demand in the future.
The Manufacturing Execution System (MES) segment is growing at a CAGR of 6.2 % during the forecast period. MES solutions help in optimizing manufacturing processes by providing real-time insights into production activities. They facilitate efficient resource utilization, reduce downtime, improve production quality, and enhance operational efficiency. Manufacturers are increasingly recognizing the value of MES in achieving these optimization goals. Owing to these aspects, there will be rising demand in the segment.
The Asia Pacific region dominated the Global Industrial Services Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $24.6 billion by 2030. The Europe region is anticipated to grow at a CAGR of 8% during (2023 - 2030). Additionally, The North America region would witness a CAGR of 7.7% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/industrial-services-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of ABB Group, Honeywell International, Inc., Rockwell Automation, Inc., Schneider Electric SE, Siemens AG, General Electric Company, Emerson Electric Co., Yokogawa Electric Corporation, Mitsubishi Electric Corporation and Samson AG.
By End User
By Type
By Application
By Geography
Companies Profiled
Unique Offerings 
