Uninterrupted power supply is a device which keeps running the machines, computers, servers, household appliance for an extended period of time during no power conditions.
After a thorough analysis and in depth studies, IndustryARC experts have projected that the Uninterruptible Power Supply Market is likely to grow with a healthy CAGR of 13.65% by 2021.
MARKET TRENDS AND MARKET GROWTH:
Market Driving Factors and Applications:
High pace growing automation will lead to the UPS market to experience a high growth in various regions across the world. The major applications of this market are accounted to be computers, servers, networking devices, data centers, marines and offshore activities.
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Increasing automation of manufacturing facilities, warehouses, home automation, and others are key factors demanding for more and more innovative products and zero downtime. The pressing need for continuous quality power supply has been poised by many other industries as well and the focus is towards critical roles of businesses, people safety, communication and data storage. Unprecedented demand for power supply by growing population and need to protect an increasing digital demanding economy the market for Uninterruptible Power Supply will grow in near future. Major manufacturing facilities, office infrastructures, households and others are realizing the importance of UPS; this will boost the overall market for UPS by end of forecast period 2015-2021 in terms of sales and revenue.
Geographically, the Uninterruptible Power Supply Market has welcomed Europe as its largest revenue contributor globally. Whereas, APAC region is projected to show the highest progress rates during the forecast period 2015-2021, according to the latest market report by IndustryARC.
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