Industrial services are those services which are provided to the industries as per their needs and requirements. It is one of the most important factors for the revenue generation and to improve the growth of the organization or company. These industrial services are specially designed for industrial clients and manufacturer so that they can meet the need and requirement of their customers. Engineering and consulting, operational improvement and maintenance, installation and commission and others are some of the common type of the industrial services. The main aim of the industrial services is to increase the productivity and make sure that the plant is working properly and efficiently so that they can cater to the needs of their customers. These industrial services are widely used in applications such as safety systems, valves, actuators, SCADA, electric motor and drives, MES, DCS and others. These industrial services make sure that they should improve the performance and meet the requirement at minimal maintenance cost. These services are used in industries such as automotive, transportation and others.
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Factors responsible for the growth of this market are as follow:
Global industrial services market is segmented on the basis of Type which is further segmented as engineering and consulting, installation and commissioning and operational improvement and maintenance; application as PLC, SCADA, HMI, DCS, MES, electric motors & drives, valves, actuators, safety systems and end user as automotive, transportation, others.
Some of the developments in the market are:
“According to Data Bridge Market Research, global industrial services market is growing at a substantial CAGR of 5.68% during the forecast period of 2017 to 2024”
Some of the major players operating in industrial services market are AT&T Inc., Cisco Systems, Inc., Commsolid GmbH , Fanstel Corporation, Vodafone Group PLC, Murata Manufacturing Co., Ltd., U-blox Holding AG, Gemalto N.V., Intel Corporation, Texas Instruments Incorporated, NXP Semiconductors N.V. among others.
The growth of industrial services is a major factor which has expanded multinational organizations worldwide and created many new services and opportunities for the population. There is increasing need for the operational excellence in different industries such as oil and gas. There is sudden increase in the collaboration of the industrial services provider with OEMS and rising demand for predictive maintenance services is also creating new opportunities for the industrial services.
Global Industrial Services Market – Industry Trends and Forecast to 2026