What most likely happened to the guild system following industrialization?

Following industrialization, the guild system largely declined as mass production and factory systems emerged, reducing the need for skilled artisans and traditional trade practices. The rise of capitalism favored large-scale manufacturing over the small-scale, localized production that guilds represented. Additionally, the regulatory and monopolistic nature of guilds became increasingly incompatible with the demands of a rapidly changing economy, leading to their eventual dissolution or transformation into more modern professional associations.