Product ID: UCMIG45A2102
Report ID:
UCMIG45A2102 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The global industrial services market demonstrated notable growth, reaching a valuation of USD 37.95 billion in 2022. Forecasts indicate a steady expansion trajectory, with the market anticipated to exceed USD 65 billion by 2030, driven by a poised compound annual growth rate (CAGR) of 6.96% during the forecast period spanning from 2022 to 2030. This growth is underpinned by the increasing demand for specialized services that support industries in maintaining, optimizing, and upgrading their operations. As manufacturing and infrastructure sectors evolve, industrial services encompassing maintenance, repair, retrofitting, and technological integration become integral for ensuring efficiency, compliance, and longevity of assets. The market's growth is intertwined with advancements in technology, including the Industrial Internet of Things (IIoT) and predictive analytics, that empower businesses to proactively manage assets and enhance productivity. As industries prioritize operational excellence, cost-effectiveness, and sustainability, the industrial services market is positioned to play a pivotal role in shaping the future of industrial operations and facilitating their transformation in an ever-changing business landscape.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Internet Software & Services by segment aggregation, the contribution of the Internet Software & Services in Software & Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG45A2102