Industrialization resulted in the creation of new class, like the industrial middle class (bourgeoisie) and the urban working class (proletariat). Working conditions are also drastically altered since time/light are no longer real issues.
*monopolies/trust/cartels* came to power,
there was *drastic environmental change* due to the toxic byproducts,
*technological innovation* helped speed up pace of change,
*improved transportation* came about as in a few decades we went from horse-drawn carriage to space shuttle,
there were *inexpensive manufactured goods*, as there was cheaper price and quality,
there was a *large population growth* due to better medicine, cheaper food, etc.
but the *standard of living and cost of living* increased as there were more and more products, though some were cheaper, that we had to have.