PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1315030
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1315030
Global Modular UPS Market is valued approximately USD 3.5 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 8.1% over the forecast period 2023-2030. Modular UPS is a flexible and redundant power protection as the modular concept enables to flexibly adapt the UPS power to power needs. The component modules may be swapped out quickly, and associated modules are recognized automatically. While the system is functioning, an upgrade may be made in only a few minutes. Rapid industrialization and modernization throughout the world, as well as government legislation and policies to promote start-ups, have raised demand for cloud servers and colocation service providers, thereby fueling demand for the modular UPS market. Education, department shops, and start-ups in many industries are key contributors to market growth.
Rapid industrialization and modernization drive the market. According to the International Finance Corporation (IFC), 65 million companies, or 40% of formal micro, small, and medium enterprises (MSMEs) in developing countries, have an annual unmet funding demand of $5.2 trillion, which is comparable to 1.4 times the present global MSME lending level. They account for around 90% of firms and more than 50% of global employment. In emerging economies, formal SMEs generate up to 40% of national revenue (GDP). 600 million new jobs will be required by 2030 to accommodate the world's rising workforce, making SME growth a top priority for many governments throughout the world. Additionally, the awareness in the SMEs regarding the advantages of modular UPS system and demand for cloud usage and large colocation facilities will provide ample opportunities for the growth of modular the UPS market during the forecast period. However, need for regular maintenance in the modular UPS system stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Modular UPS Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing demand for reliable power supply, growing need for high efficiency and energy savings solution, increasing data center deployments and rising need for strong and continuous network connectivity to give smooth assistance to major companies. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the increasing data center investments, rising demand for reliable power supply, supportive government initiatives and regulations, growth in renewable energy installations, increasing awareness of data security, and growing technological advancements.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable