Industrial Services Market, Global, 2025-2029

Transformational Growth is due to Increasing Customer Expectations, Digital Transformation, and the Rise of Advanced Services Offerings

Industrial services ensure maximum performance of equipment and processes. Spare parts replacement, calibration, repairs, predictive maintenance, advanced services, and training improve productivity, minimize cost, and extend the useful life of products and systems, and give customers in process, hybrid, and discrete industries a faster return on their investment.

The industrial services market is segmented into installation and commissioning, maintenance and support, connected and consulting, outcome-based, and revamp and decommissioning. Products and applications include measurement and analytics tools, valves, industrial robotics, control systems, safety systems, and software.

The market is seeing a shift from simple, limited coverage of an asset to comprehensive asset stewardship. Services are changing in response to customer expectations and the rapid proliferation of advanced technologies, and now may include subscriptions or rentals, consumable models, uptime-based contracts, and as-a-service offerings including robotics-as-a-service.

Talent, digital transformation, data analytics, data entrepreneurship, and speed and expertise are important differentiators. Service providers focus on advanced offerings, degree of customization, value-based pricing, technology, supply chain efficiency, and customer-centricity.

Why

• A remote-first approach, workforce empowerment with technology and actionable insights, and advanced offerings (as-a-service solutions) are changing the way industrial services organizations work and generate revenue.
• Industrial services rely on digital capabilities. Technology-enabled service delivery significantly enhances workforce productivity, efficiency, and the customer experience through faster dispatching, seamless access to real-time, remote expert support, and faster resolution of issues.
• The labor market is tight, and companies face a skills gap in digital and analytics capabilities amid the expected increase in demand for new technological skills.

Analyst Perspective

• The delivery of services (i.e., operating models) is changing where remote-first operations are scaled across organizations. Commercial models are also changing. An example is the move from subscription-to-performance-based agreements. Service providers will fine-tune their value propositions to meet future industry challenges.
• Today’s younger, tech-savvy workforce is demanding access to the latest technology with digital interactions and advanced user interfaces, which will provide them with the most relevant information when needed to increase their impact and improve the flexibility, reach, and efficiency of services.
• Attracting and retaining the right talent is essential for future operating models. In addition to recruiting, companies are upskilling their current workforce to build capabilities.

Scope of Analysis

Services ensure maximum performance of equipment and processes. Spare parts replacement, calibration, repairs, predictive maintenance, advanced services, and training improve productivity, minimize cost, and extend the useful life of products and systems, and give customers a faster return on their investment. Measurement and analytics: Sensors, transmitters (pressure, temperature, and level), process analytical instrumentation, liquid and gas analyzers, gas chromatographs, flow metersIndustrial roboticsControl valvesControl systems, safety systems, and software: Distributed control systems, safety instrumented systems, programmable logic controller (PLC), supervisory control and data acquisition (SCADA) systems, manufacturing execution systems (MES), digital twins, enterprise asset management (EAM), asset performance management (APM), cybersecurity, conditioning monitoring software, vision systems, machine safety systemsSiemens signed an agreement to acquire Altair Engineering Inc. Rockwell Automation acquired Verve Industrial Protection, Clearpath Robotics and OTTO Motors, and Knowledge LensABB acquired SEAM GroupEmerson acquired National Instruments Corporation, Flexim, Afag, and AspenTech

Growth Drivers

Industrial Services Market, Global, 2025-2029

Access to and adoption of digital and automation solutions, data and advanced analytics, IoT, robotics and augmented/virtual reality, and AI enable more sophisticated services offerings and allow solution providers to tailor their value propositions.

Growth Restraints

Industrial Services Market: Growth Restraints, Global, 2025-2029

The labor market is supply-constrained. The shortage of talent/skilled workers means that companies face a skills gap in digital and analytics capabilities and difficulties in finding, training, and retaining skilled employees because of an aging workforce. Large industrial groups have hundreds of open positions for skilled people with different types of expertise to deploy their new digital services to customers globally.