Market Research Report
UPS Market Size By Component, By Application, By End-Use, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
|Published by||Global Market Insights Inc.||Product code||938973|
|Published||Content info||260 Pages
Delivery time: 2-3 business days
|UPS Market Size By Component, By Application, By End-Use, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026|
|Published: May 14, 2020||Content info: 260 Pages||
The UPS market outlook is anticipated to gain significant traction over the forecast time period owing to rapidly growing number of online services driven by increasing industrialization and urbanization. UPS or uninterruptible power supply basically provides a backup power when the main input power source tends to fail or when the voltage drops down to an inappropriate level. It is also referred as the battery backup.
UPS market is segmented in terms of component, end-use, application, and regional landscape.
With respect to component, the UPS market is categorized into services and solution. The services component segment is further classified into professional and managed. High costs related with the repair, maintenance, and installation of professional solutions is a major hindering factor in the UPS market. It needs skilled engineers or technicians for performing the installations and maintenance tasks, thus leading to high service costs.
Based on end-use, the UPS market is classified into large enterprises and SMEs. The large enterprise segment is anticipated to witness a high demand for UPS systems owing to the rapid increase in the establishment of large-scale IT facilities in various industry verticals. Large enterprises that have global operation bases are establishing their mega-facilities in different locations across the globe.
With an increase in the number of SMEs, the demand for UPS systems is projected to grow rapidly. SMEs are considered the backbones of the U.S. economy along with being key contributors to economic growth. As per the U.S. Small Business Administration (SBA), in the U.S. there were approximately 30 million small businesses that accounted for two-thirds of net new private sector jobs, as of April 2018.
In terms of application, the overall UPS market is categorized into residential, media & entertainment, manufacturing, IT & telecom, healthcare, data centers, BFSI, and others. The others segment will witness growth due to growing demand for the solutions in the hotel industry in order to offer power backup to numerous technologies that are being installed in the facility thereby boosting the market growth for UPS.
Several safety and security solutions such as extinguishing system, video surveillance, and voice alarm systems are being installed in hotel buildings to improve the safety and security of its guests as well as their luggage. These solutions need UPS as a backup power supply to ensure their operation in case of blackouts.
From a regional frame of reference, the North America UPS market is likely to witness growth owing to the growing online services in the region.
The major main factor driving the UPS market growth in Europe is the rapid industrialization. With the increase in the adoption of current technologies in manufacturing services, the demand for efficient power technologies will also grow quickly. Countries which includes France, Germany, and the UK, comprise of major automobile manufacturers, like Porsche, Audi, and BMW that are increasing their manufacturing capabilities in the region, thereby driving the market growth.
Rapid urbanization in the region will lead to MEA UPS market growth over the forthcoming time period.