7031Service Control ManagerThe ServiceABC service terminated unexpectedly. It has done this 3 time(s). The following corrective action will be taken in 0 milliseconds: No action.
Windows logs this error to the event log when a system service suddenly exits.
It means that the service executable probably has a problem/bug (e.g. referenced an invalid memory location, etc.) and thus was closed by Windows.
Some application vendors automatically restart their services if they crash, so depending on the application type this might not be a big problem. You can also configure Windows (Windows 2000 and higher) to automatically restart the service if it fails.
If this is a critical service then I recommend that you contact the application vendor and have them look into it.