Published Date: 2022-04-08
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European UPS Market size is predicted to surpass USD 3,500 million by 2027, according to a latest forecast report by Graphical Research.
The rising dependency of healthcare organizations on reliable power supply for the effective functioning of various vital medical care instruments will create various growth opportunities. A power failure might disrupt an ongoing surgery, affecting the patient's health. An interruption of electricity to sensitive equipment during operation might harm the machine or necessitate repeating the entire procedure, delaying critical care. UPS for medical equipment ensures that important diagnostic instruments are always available without interruption, while also conditioning power for sensitive equipment.
The UPS industry experienced a temporary downfall in the first half of 2020 owing to supply chain disruptions caused by the government organizations’ stringent lockdowns. Corporate businesses adopted remote working practices, while educational institutions used technologies, such as e-learning and digital collaboration, resulting in the generation of large volumes of data. This factor increased the demand for UPS used in data centers and the IT & telecom sector, helping to stabilize the market in the second half of 2020. UPS efficiently handled different power supply challenges without interrupting the overall operations. The market grew in 2021 due to the supportive government initiatives aimed at boosting digitalization in various sectors, requiring robust power management solutions.
The demand for standby (offline) UPS systems is increasing in the market as they are a low-cost alternative that protect against power surges by restricting excess voltage. Offline UPS systems are an optimum option for devices with low power capacity such as less than 1,500VA. It safeguards desktop computers, video gaming consoles, workstations, wireless networks, and other electronic devices from power failures. It provides adequate runtime after a power outage to save work in progress and finish an organized device shutdown. Offline UPS is mainly used for residential applications due to its compact size, high efficiency, and low operating costs.
Browse detailed statistical insights from the report, “Europe UPS Market Forecast 2027 By End use (SMEs, Large Enterprise), By Component (Solution [Standby (Offline), Line-interactive, Online UPS], Services [Managed, Professional]), By Application (BFSI, Data Centers, Healthcare, IT & Telecom, Manufacturing, Media & Entertainment, Residential), Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/2093/europe-ups-market
The expanding BFSI sector of Europe is providing impetus to the market as the banking system is using digital technologies. The increasing use of online and contactless payments has stimulated the demand for UPS solutions that ensure reliable power supply. According to the UK Finance, in July 2021, contactless payments accounted for 88.1% of all the credit card transactions and 90.8% of all debit card transactions. An increase in the number of online transaction activities, such as digital transfers and smart card payments, demand swift power backup protection offered by UPS. This system aids in the maintenance of customer access to online & mobile banking, the operation of trading equipment, the protection & accessibility of insurance, and other personal information.
The demand for UPS solutions is increasing from SMEs to enable efficient power management in small data centers. They have modular integrated infrastructures that require small IT equipment that occupies minimum space. Compact micro & edge data centers that are portable & easily deployable for small scale applications in remote places are becoming increasingly prevalent. The growing number of SMEs using micro data centers will increase the demand for compact UPS systems that deliver dependable power while minimizing the available space footprint. The increasing number of SMEs in the region.
The European UPS market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027 for the following segments:
Europe Market, By Component
Europe Market, By Application
Europe Market, By End Use
The above information has been provided for the following countries:
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