dozy_walia,
as with many decisions in life, your question cannot possibly have a black/white answer. I faced a similar dilemma 15 years ago, and chose to go for a Ph.D.
If I were to sum up my experiences, I would say that it felt interesting to be part of an international scientific community, but I really pushed myself to the limit, especially during the 7-month write-up period, when I was working up to 19 hours a day, 7 days a week. Looking at it now, I think I kind of mentally burned-out at that time.
Someone else mentioned that a Ph.D. does not make that of a difference in the industry. Well, apart from giving you an edge at interview time, I generally agree with that. Practical skills are usually called for in the workplace, whereas a Ph.D. needs to be theoretical. It may optionally also have a practical aspect to compliment.
If an academic career is of interest, things are totally different of course.