Following the Industrial Revolution, at the end of the 19th century, the first factories were established in the city, and industry began to make use of modern machinery. As products were oriented towards the mass market, banking intensified and commerce increased. The educational system became more accessible, and literacy increased, as well. By the end of 19th century - the beginning of the 20th century, Panevėžys became a strong economic and cultural center of the region. At the time it was the fourth most important city in Lithuania (excluding Klaipėda).
