An Uninterruptable Power Supply (UPS) system supplies power within 10-15 milliseconds, which protects appliances against damage from frequent power failures, fluctuations and restarts. UPS finds widespread use in diverse industries and sectors including services, retail, oil and gas, data centers, retail, etc. According to a recently published report by TechSci Research,“Global UPS Market Forecast & Opportunities, 2019”, the global UPS market is forecast to grow at a CAGR of around 8% during 2014-19. Asia-Pacific is the largest revenue contributor to the global UPS market due to continuing growth in the region’s commercial and industrial sectors over the last decade. The region is expected to maintain its dominance in the global UPS market due to consistently growing demand for UPS systems from major developing economies such as India and China. The commercial sector held the largest share in the global UPS market, in revenue terms, in 2013;a trend that is likely to continue during the forecast period as well. Maximum volume sales in the market are being accounted for by ‘less than 1 KVA UPS segment’.
The report indicates that the demand for UPS is expected to increase worldwide in coming years, predominantly driven by robustly expanding IT/ITeS industry across the globe. In addition, growth in the number of corporate offices, hospitals and hotels, coupled with increasing Small and Medium-sized Businesses (SMB) IT spending are expected to emerge as other major factors driving the global UPS market. Over the next five years, the market is expected to witness increasing adoption of high-efficiency UPS solutions. Technological advancements have allowed companies to offer green UPS solutions with an efficiency of almost 99%, which can significantly lower energy consumption and reduce carbon emissions.
“Increasing SMB IT spending and rising data center industry worldwide coupled with continuing growth in desktop PC sales in the Asia-Pacific region, are boosting demand for UPS systems, globally. Further, widening energy demand-supply gap is expected to increase UPS adoption, especially in APAC countries, over the course of next five years”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global UPS Market Forecast & Opportunities, 2019” has analyzed the potential of global UPS market and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the UPS market, globally.