In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Integrated UPS systems offers complete power solutions related to electrical problems. Integrated UPS are assuming critical importance in data centers. These UPS find their applications in several industries such as BFSI, energy, healthcare and others.
Global integrated UPS market is expected to flourish at a CAGR of 3.2% during the forecast period i.e. 2017-2024. With the growing internet usage, integrated UPS is gaining traction in modern data centers. Moreover, factors such as large base of personal computer and growth of IT industries across the globe are expected to drive the growth of the Integrated UPS market.
In the regional market, North America is anticipated to dominate the overall market of Integrated UPS during the forecast period. High digitization in several sectors such as healthcare, Energy, BFSI and others is driving the demand for Data centers which further is expected to benefit the growth of Integrated UPS market. Apart from this, various industries are adopting integrated UPS to minimize the production losses due to power outages and other disturbances. Europe integrated UPS market is expected to witness substantial growth over the forecast period. Surging growth of data center is anticipated to fuel the growth of the integrated UPS market in Europe. According to European Data Centre Association, co-location data center market in Western Europe is anticipated to grow at a CAGR of 11% during 2017-2020. Moreover, robust development of IT infrastructure in the region signals promising growth for integrated UPS market in Europe.
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Moreover, Asia Pacific ranks as the fastest growing region in Integrated UPS market. This growth is anticipated to be fostered by the growing utilization in various end use sectors such as BFSI, healthcare, manufacturing industries, utilities and other sectors. Further, growing digitization of BFSI and IT & telecom augurs well for the growth of the integrated UPS market. Moreover, increasing sale of personal computers in the region is envisioned to strengthen the growth of the market. Countries such as China, Japan and India are witnessing augmented demand for Integrated UPS.
Our-in depth analysis of the global integrated UPS market includes the following segments:
The global integrated UPS market is further classified on the basis of region as follows:
Increasing data centers across the world is the major factor which is expected to intensify the growth of the integrated UPS market. In addition, expanding role of networking in enterprises is anticipated to accelerate the growth of the integrated UPS market over the analysis period. Similarly, rising trend of cloud computing is anticipated to drive the future adoption of integrated UPS. Rapid growth of IT industries in the world is also believed to trigger the growth of the integrated UPS market.
Wide scale application of integrated UPS in various end use industries is paving the way for the growth of the global integrated UPS market. Moreover, these industries are moving towards digitization which is creating huge growth opportunities for integrated UPS market. Apart from this, positive growth of the end use industries is set to accelerate the market expansion of integrated UPS.
Integrated UPS market is believed to benefit from the thriving sales of desktop personal computer. The market is witnessing the launch of advanced integrated UPS. Further, major manufacturers are increasing their research & development investment which is expected to positively impact the growth of the integrated UPS market.
However, high cost of integrated UPS is a major stumbling block for the growth of market. Furthermore, availability of other types of UPS in the market coupled with high adoption rate is anticipated to negatively impact the growth of the global integrated UPS market.