Uninterruptible Power Supply (UPS) Market Worth $ 10.46 Billion, Globally, by 2028 at 4.27% CAGR: Verified Market Research
The global uninterruptible power supply market has witnessed strong growth owing to the rapid urbanization and growth in the IT market. Technological advancement and the availability of data center rack solutions are also anticipated to foster market growth. The increasing demand for UPS in the residential and commercial sectors will moreover enhance the market growth.
JERSEY CITY, N.J., Feb. 15, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Uninterruptible Power Supply (UPS) Market" By Type (Off-Line/Standby, Line-Interactive and Online/Double-Conversion), By Application (Data Center, Telecommunication, Medical, Industrial, Marine and Others), by Geography. According to Verified Market Research, the Global USD 7.48 Billion in 2020 and is projected to reach USD 10.46 Billion by 2028, growing at a CAGR of 4.27 % from 2021 to 2028.
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Global Uninterruptible Power Supply (UPS) Market Overview
The global uninterruptible power supply market is principally driven by rapid urbanization and growth in the IT market. In addition, advantages connected with the usage of UPS such as loss limitation to the numerous electrical components & appliances, and maintenance of data on the servers is also an important driver for the uninterruptible power supply (UPS) market. There is an increasing trend of understanding these systems as an essential power backup device for making work more effectively and efficiently. Technological advancement and the availability of data center rack solutions are also anticipated to foster market growth. The increasing demand for UPS in the residential and commercial sectors will moreover enhance the market growth. As developing economies, such as China, India, and Japan are facing large industrial inflation, the demand for reliable power solutions is required to boost the UPS market growth.
The major players in the market are Schneider Electric, Eaton, Emerson Electric Co., S&C Electric Company, ABB, Socomec, TOSHIBA CORPORATION, AEG Power Solutions B.V., Xiamen Kehua Hengsheng Co. Ltd., and SENDON INTERNATIONAL LTD.
Verified Market Research has segmented the Global Uninterruptible Power Supply (UPS) Market On the basis of Type, Application, and eography.
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