Digital Services Are Transforming Businesses and Opening Up New Opportunities for Market Success

New ARC Advisory Group research on digital services highlights important factors that are driving growth and the current trends in the market. The ongoing digital transformation in the industry is creating new opportunities for service delivery, particularly in the context of Industry 4.0. The COVID-19 pandemic has further accelerated the shift toward digitalization in the industry, promoting a deeper integration of digital technologies. With the help of data obtained through Industrial IoT and modern protocols like OPC UA, digital services are expanding their capabilities. This enables enhanced energy and resource efficiency, while also offering new ways to leverage the benefits of digitization. The report explores a wide range of digital services, including well-known and widely used ones such as digital training, as well as newer services which are gaining popularity, such as virtual commissioning. Additionally, the research examines how AI and ML impact the provision and dissemination of digital services. These technologies not only optimize current processes, but also pave the way for the development of innovative solutions, giving companies a competitive edge in a rapidly evolving industrial landscape.

"The increasing popularity of digital services among end users and the active expansion of these services by OEM manufacturers, automation suppliers, and service companies emphasize the importance of this segment. Digital services offer new opportunities for improving business efficiency and enhancing the appeal of equipment suppliers‘ products. By integrating digital solutions, companies can strengthen their competitive positions and create additional value for customers. ARC anticipates a strong growth in this market in the coming years, with an expected increase in both the availability of services and the number of companies providing them. This growth in the digital services market reflects the global trend of digitization in various sectors of the economy," according to Alexey Grechko, Senior Analyst and key author of ARC's Digital Services Market Research.

Digital Services Market Trends

In addition to providing detailed competitive market share data, the research also addresses key market trends as follows:

  • Leveraging AI
  • Enhancing Speed and Efficiency in Implementation 
  • Reducing Downtime
  • Increased Complexities of Machines

Leading Suppliers to the Digital Services Market Identified

In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes: Honeywell, Rockwell Automation, Schneider Electric, Siemens, Yokogawa.

About the Digital Services Research

Digital Services Market TrendsThe Digital Services research explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, plus five-year market forecasts. The research segmentation includes Industry, Customer Type, World Region, Sales Channel, Service Revenues by Type, Overall Scope, Service Revenues by Application.

This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. ARC's Market Data Service (MDS) is an annual subscription service that provides a unique online environment to each customer, together with all the necessary user interface apps and datasets. MDS unlocks the full benefits of ARC’s time-tested market intelligence by leveraging the latest analytical tools and technologies to allow you to make more actionable, real-time business decisions. Interactive access to ARC’s qualitative analysis is displayed in context with up-to-date market data, allowing clients to develop customized views of the market to best suit their needs.  ARC continues to offer our traditional static Market Reports as a PDF.

ARC provides several types of market data services.  The most common are Market Growth Outlook and Competitive Analysis Services.  These services provide detailed market analysis of a single or multiple products or software applications. Please visit Market Data Services page for more details on these services.

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