UPS Market - By Component (Solution [Standby (Offline), Line-Interactive, Online UPS], Services [Managed, Professional]), By End-use (SMEs, Large Enterprise), By Application (BFSI, Data Centers, Healthcare, IT & Telecom, Manufacturing, Media & Entertainme

UPS Market - By Component (Solution [Standby (Offline), Line-Interactive, Online UPS], Services [Managed, Professional]), By End-use (SMEs, Large Enterprise), By Application (BFSI, Data Centers, Healthcare, IT & Telecom, Manufacturing, Media & Entertainment, Residential) & Forecast, 2023 - 2032

Global Uninterruptible Power Supply (UPS) Market is slated to expand through 2032 owing to the growing infrastructural development of various end-user sectors in the Asia Pacific region. The region is emerging as a manufacturing hub due to government efforts including smart city projects and sector-specific benefits to different manufacturing firms. For instance, Japan’s national Smart Cities program, Society 5.0, encompasses 227 innovative smart city projects in 157 locations nationwide.

Increased digitization and modernization result in increased energy consumption in sectors that require dependable electricity for smooth business operations.

Leading companies in the sector have been vying to build data centers due to the rising demand for big data, cloud computing, and internet services. For instance, in February 2021, Amazon Web Services Inc. revealed its plans to establish hyper-scale data centers in Didcot Power Station. This will boost sales of creative, scalable UPS systems that can offer dependable power backup.

The UPS market has been divided in terms of component, solution, service, application, end-user, and region.

Based on component, the solution segment is expected to hold more than USD 12 billion market share by 2032. To increase productivity and scalability, keep a constant power supply, and reduce data loss due to power outages, small and large organizations are expected to see an increase in the demand for UPS solutions. The dual conversion architecture of these UPS systems ensures a high degree of capacity isolation from troubles with the main supply. The popularity of such systems is fueled by these features, which enable businesses to function efficiently with continuous power support.

With respect to solution, the standby (offline UPS) segment is set to witness positive expansion over the review period driven by the product’s high effectiveness and affordable prices. When the battery backup is fully drained, the UPS systems can effectively shift to active mode, resulting in unsafe power or generator output, making them a reliable option for onsite power backup for small businesses.

From the regional outlook, the Middle East & Africa UPS market is speculated to attain sizable growth through the forecast years. The growth of the Saudi Arabia film industry has resulted in significant shifts in the media and entertainment sector. Major industries in the region have expanded significantly as a result of the rising consumer demand for entertainment and leisure.