NEW YORK, September 5, 2016 /PRNewswire/ --
Rising need for continuous power supply, rapid industrialization and growing number of IT/ITeS offices to drive India UPS market through 2021
According to a recently published TechSci Research report "India UPS Market By Application Sector, By kVA, Competition Forecast and Opportunities, 2011 - 2021", the market for UPS systems in India is projected to reach $1.2 billion by 2021. On account of growing demand for continuous power and protecting equipment from voltage fluctuations, UPS systems are witnessing rising adoption by different end users ranging from residential households, small offices to large business enterprises. Moreover, expanding commercial and industrial sectors such as IT/ITES, BFSI, healthcare, retail, educational and research institutes, telecommunication, textile industry, etc., are further fueling demand for UPS in the country.
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"India UPS Market"
India UPS market was dominated by IT/ITeS sector in 2015, and the sector is forecast to continue its dominance in the coming years, owing to increasing number of Government of India initiatives to make the country an IT hub. IT market in India grew significantly over the past few years, and garnered total revenues of around $138.8 billion in 2015, consequently driving UPS over the last few years. South India accounted for the lion's share in the country's UPS market in 2015. However, North India is expected to grow at a faster pace in the coming years on account of rising IT/ITes and BFSI sectors in the region.
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"India, as an economy, is undergoing a major transformation. Rising number of government initiatives to support development in IT/ITES, BFSI, education, healthcare, retail and residential sectors in the country is expected to have a positive impact on the country's UPS market in the coming years. Growing demand for continuous power supply even in Tier II and Tier III cities, coupled with major government initiatives such as, "Make in India" and "Digital India", are anticipated to drive India UPS market during the forecast period." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"India UPS Market By Application Sector, By kVA, Competition Forecast and Opportunities, 2011 - 2021" has evaluated future growth potential of UPS market across India and provided statistics and information on market structure, industry behavior and trends. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities available in India UPS market.
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