Global Industrial Services Market – Impacted by Operational Excellence, Maintenance Services and Equipment Complexities
According to Goldstein Research, industrial services market is expected to reach USD 42.6 billion by 2024, growing at a CAGR of 5.8% over the forecast period 2016-2024. With the advent of globalization, large IT firms are multiplying their business in various regions of the world, thus, driving the growth of the market. Global industrial services market segmentation has been done on the basis of type, industry, application, end-user and geography. Oil and gas industry has the largest application of industrial services owing to huge complex processes and requirement of operational efficiency to level up the falling oil prices. Global industrial services market is largely dominated by Asia-Pacific region acquiring 43.2% market share in 2016 on the back of increasing automation services and adoption of cloud connectivity. Asia-Pacific is followed by North America market share of 29.1% in 2016 on account of the huge investments to provide quality industrial services. Market Segm...