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Data Center UPS Market Size, Share And Forecast To 2033
Data Center UPS Market Size
According to The Business Research Company's, The data center ups market size has grown strongly in recent years. It will grow from $5.1 billion in 2023 to $5.43 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to rising awareness of downtime costs, growing data center construction, growth of edge computing, increasing sensitivity to power quality, global expansion of it infrastructure.
The data center ups market size is expected to see strong growth in the next few years. It will grow to $7.15 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to continued growth in data center demand, growing need for business continuity, global connectivity requirements, increasing cybersecurity concerns, focus on energy efficiency. Major trends in the forecast period include growing demand for edge computing, rising awareness of energy efficiency, adoption of lithium-ion batteries, integration of ai and predictive analytics, modular ups solutions.
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Market Drivers and Trends:
Increasing digital transformation is expected to propel the growth of the data center UPS market going forward. Digital transformation refers to the transformation of traditional processes to an online-based or digital environment making use of online services. Digital transformation makes use of more internet or data that requires uninterrupted power supplies and data centers to handle massive data operations, as a result, this will increase the demand for the data center UPS for its ability to manage the power needs. For instance, in November 2022, according to Zippia, a US-based career expert, globally, 56% of companies were prioritizing digital transformation in 2021, and is expected that spending on this digital transformation will reach $6.8 trillion by 2023. Therefore, increasing digital transformation drives the data center UPS market.
Product innovations are a key trend in gaining popularity in the data center UPS market. Major companies operating in the data center UPS market are focusing on innovative products to sustain their position in the market. For instance, in November 2022, Huawei, A China-based company operating in data center UPS introduced innovative solutions, FusionModule2000 6.0, a modular small/medium-sized data center solution, and UPS2000-H, a small-footprint power supply solution to its smart modular data center and smart uninterruptible power supply (UPS) series. These are designed to build and upgrade data efficiency at the edge and will provide a cost-effective data center solution that drives green digitization for businesses.
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Major Key Players of the Market:
ABB Ltd.; AEG Power Solutions GmbH; Belkin International Inc.; Clary Corporation; Delta Electronics Inc.; Eaton Corporation; General Electric Company; Huawei Technologies Co. Ltd.; Intellipower Inc.; Legrand SA; Panduit Corporation; Mitsubishi Electric Corporation; Power Innovations International Inc.; Schneider Electric SE; Socomec SA; Toshiba Corporation; Vertiv Holdings Co.; Shenzhen Kstar Science & Technology Co. Ltd.; Xiamen Kehua Hengsheng Co. Ltd.; RPS S.p.A.; AMETEK Inc.; Langley Holdings plc; Riello Uninterruptible Power Systems; CyberPower Systems Inc.; Tripp Lite International; Falcon Electric Inc.; Gamatronic Electronic Industries Ltd.; Borri Industrial Power Solutions; Chloride Power Protection; Active Power Inc.; Piller Power Systems Inc.; Rittal GmbH & Co. KG; Uninterruptible Power Supplies Ltd.; Kohler Co.; Cummins Inc.; Generac Power Systems Inc.; Hitachi Hi-Rel Power Electronics Pvt. Ltd.
Data Center UPS Market 2024 Key Insights:
• The data center ups market will grow to $7.15 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%.
• Increasing Digital Transformation Surge Demand For Data Center Ups
• Product Innovation Transforms The Market
• North America was the largest region in the data center UPS market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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