The global UPS market is projected to reach US$14.7 billion by the year 2027, trailing a CAGR of 5.0% over the analysis period2020 to 2027. Challenges posed the pandemic are numerous. Energy demand is staging a sharp decline as lockdowns trigger closure of businesses and industries. Dramatic reductions in services industry have aggravated the decline in electricity consumption. The gains in residential energy consumption as a result of shelter-in-place orders and work from home have only partially offset the loss in energy consumption. With most industrial plants and businesses shut, energy related investments are plummeting. Even as businesses gradually reopen, the economic and business losses suffered will impact budgets for energy storage and energy efficiency. The only bright spot that offers partial relief is the massive shift to home based study and work which is pushing up demand for UPS systems for residential use.

In the post COVID-19 period, growth will continue to be led by the importance of backup power in the electronic and cloud era. With the frequency and severity of power outages growing at an alarming rate the world over due to aging energy infrastructure and electricity networks, there is strong need for uninterrupted and reliable power supply for flawless functioning of modern digital equipment omnipresent in virtually every industry including residential/consumer, enterprise IT, industrial, commercial, telecom and datacenter environments. Few of the noteworthy trends that will fuel growth in the market during this period include development of smaller lighter and more powerful UPS systems; rise of cloud computing technology, increased 24/7 reliance on cloud services for business continuity and the ensuing importance of UPS systems; rising prominence of transformer-based UPS systems in non-IT applications; and growing commercial value of modular UPS systems in complex IT environments such as typically found in government, corporate, education and healthcare sectors. Continuous technology developments focused on adaptability, availability, manageability, serviceability and safety will continue to remain the prevailing theme for long-term success in the market. Growing pressure among datacenter operators to improve energy efficiency, evolve into ecologically responsible businesses and ensure compliance with energy conservation regulations will drive the popularity of eco-friendly UPS systems featuring performance characteristics such as reduced heat loss; right-sized capacity design with lower power and cooling requirement; and smart features that automatically turns off idle peripherals to save energy. China and Rest of Asia-Pacific will represent the fastest growing market by 2027 led by expanding industrial, business and commercial sectors, large-installed base of digital equipment, adoption of automation and smart factory technologies in the manufacturing sector, exploding SaaS market, rise in the number of networked homes as a result of the growing digital affluence of the expanding base of middle class population, and proliferation of IoT devices in virtually every industry.