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Uninterruptible Power Supply (UPS) Market Size

Report ID: GMI3791
Published Date: Jun 2024
Report Format: PDF

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UPS Market Size

Uninterruptible Power Supply Market was valued at USD 11.6 billion in 2023 and is estimated to register a CAGR of over 5% between 2024 and 2032. The proliferation of data centers driven by the expansion of cloud computing, big data, and IoT applications is a major growth driver of the UPS market.

Uninterruptible Power Supply Market

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The rise of IoT devices and edge computing necessitates reliable power backup solutions. Technological advancements in UPS systems, such as improved battery technologies, remote monitoring capabilities, and higher efficiency, are propelling market growth. For instance, in February 2024, Delta Electronics introduced a next-generation UPS system featuring lithium-ion batteries and advanced remote monitoring capabilities, catering to the demand for more efficient and manageable power backup solutions.

UPS Market Report Attributes
Report Attribute	Details
Base Year:	2023
UPS Market Size in 2023:	USD 11.6 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	5%
2032 Value Projection:	USD 21.3 Billion
Historical Data for:	2021 – 2023
No. of Pages:	280
Tables, Charts & Figures:	300
Segments covered:	Component, Application, End User
Growth Drivers:	Rising emergence of green and energy efficient UPS solutions globally Rise in number of SME globally Growth of cloud technologies in North America and Europe Rapid infrastructure development of various end-use segments in Asia Pacific
Pitfalls & Challenges:	Rising raw material and skilled labor costs Slowdown in the semiconductor industry

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Also, the expansion of infrastructure and industrialization in emerging markets is fueling the demand for UPS systems. Compliance with stringent regulations and standards related to power quality and reliability in various industries is driving the adoption of advanced UPS systems. The increasing frequency of power outages, particularly in regions with aging power infrastructure or in areas prone to natural disasters, is driving the demand for UPS systems. For instance, in October 2023, CyberPower introduced SL750U UPS system with information on how battery backup and surge protection can prevent damage to electronics from lightning storms and power outages.

Adherence to stringent environmental regulations can increase operational costs and necessitate investment in new technologies. The biggest challenge for UPS system manufacturers is the disposal and recycling of the batteries after use. Batteries contain hazardous material which needs to be handled carefully. New environmental regulations have made it complex to integrate the UPS systems with renewable energy sources. The increasing adoption of cloud computing technologies have reduced the need for physical infrastructure such as on-premises power backup solutions.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

Uninterruptible power supply (UPS) industry size was worth USD 11.6 billion in 2023 and is projected to expand at over 5% CAGR from 2024 to 2032 due to the expansion of cloud computing, big data, and IoT applications.

The UPS market share from the solution component segment was worth more than USD 7 billion in 2023, owing to the integration of advanced technologies such as AI and machine learning in UPS systems.

The data center application segment in the UPS industry is projected to grow at over 3% CAGR between 2024 and 2032, led by the rapid proliferation of data centers across the globe.

North America UPS industry accounted for more than 40% revenue share in 2023, on account of the rapid adoption of cloud computing services by businesses and government organizations.