Market Research Future (MRFR) estimates that the global modular UPS is expected to grow at a higher CAGR of 10.53% to account for a higher market share of approximately USD 6.71 billion during the forecasted period in the global market (forecast timeframe).
Growth Boosters and Key Barriers
The UPS market is expanding at a favorable pace all across the globe, with the major demand emanating for modular UPS products across prominent industries. A modular UPS system’s capacity to reconfigure and cater to the load demands offers a high level of flexibility, which is not possible with fixed capacity UPS systems. This helps maximize the operational efficiency, while ensuring trouble-free functioning of critical systems during power interruptions such as brownouts, blackouts, sags, noise interference or surges.
In recent years, the demand for colocation and cloud services has soared considerably and the use of cloud applications across industries has risen sharply, which can be quite favorable for the Modular UPS Market growth. The intense growth of the colocation sector can also benefit the global market to a large extent. The demand and ubiquity of internet hosting is constantly mounting, which means that SMEs as well as large enterprises need to adapt to the evolving market dynamics in order to stay relevant.
Top giants such as Riello Electronica Group and ABB Group are actively spending huge amounts on developing modular UPS, given the escalating demand from industry verticals such as education, healthcare, government, corporate, among others. This increase in the investments for developing better quality products by major companies can complement the market growth in the approaching years.
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The global market of Modular UPS Market is segmented by component and vertical.
By component, the market is segmented into services and solutions. The services segment is likely to thrive at a high CAGR across the forecast period. The services segment is sub-segmented into professional services and integration services. The integration services segment is estimated for a high growth rate due to increase in service requirements. The solution segment is narrowed down to 10-100 kVA, 101-250 kVA, 251-500 kVA, and above 500 kVA. A modular UPS featuring energy efficacy, improved performance solutions, cost-effectiveness, and less maintenance hazels is gaining high popularity among people. This is expected to gain goof traction for the market. By vertical, the market is segmented into BFSI, defense, manufacturing, data centers, media & entertainment, it & telecommunication, healthcare, and others. The increase in the application of modular USP across different verticals can prompt its market growth.
The prominent players in modular UPS market are – ABB Group (Switzerland), Emerson Electric Co. (U.S.), Eaton Corporation PLC (Ireland), Huawei Technologies Co. Ltd. (China), Schneider Electric SE (France), General Electric (U.S.), Delta Electronics, Inc. (Taiwan), Gamatronic Electronic Industries Ltd. (Israel), Riello Electronica Group (Italy), Tripp Lite (U.S.) among others.
The Asia Pacific modular UPS market expected for a sharp rise. The APAC market is expected to secure the largest share of the global market in the forecast period. Regions, such as Japan, India, and China are likely to spearhead in the market growth line. The presence of different key players in the region and the developing economy of the market is expected to upscale the regional market. The rise in demand modular USP systems for data center and increase in the number of data centers are identified as major causes that are likely to drive the APAC market. High research and development undertakings contributing to design and development of new technologies are expected to benefit the modular UPS market in both Europe and North America. The rise in demand for modular UPS solutions in the IT and telecommunication industry, followed by the healthcare and the manufacturing industry, is likely to boost the North America market. The United States market is expected to lead the growth curve. An increase in the number of colocations services is expected to favor the US modular UPS market.
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