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UPS Market to Expand by USD 3.96 Trillion (2024-2028) Driven by Data Center Growth, The AI Effect on Trends – Technavio Report

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NEW YORK, Aug. 26, 2024 /PRNewswire/ — The global uninterruptible power supply (UPS) market size is estimated to grow by USD 3964.6 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 4.05% during the forecast period. Growth in data center infrastructure is driving market growth, with a trend towards advances in UPS technology. However, risks of UPS failure poses a challenge. Key market players include ABB Ltd., Ablerex Electronics Co. Ltd, AMETEK Inc., Delta Electronics Inc., East Penn Manufacturing Co. Inc., Eaton Corp. Plc, EnerSys, Exide Industries Ltd., Friedhelm Loh Stiftung and Co. KG, Hitachi Ltd., Huawei Technologies Co. Ltd., Legrand SA, Metartec Ltd., Mitsubishi Electric Corp., Power Innovations International Inc., RTX Corp., Schneider Electric SE, Siemens AG, Toshiba Corp., and Vertiv Holdings Co..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

End-user (Non-residential and Residential), Type (Online or double conversion, Line-interactive, and Off-line or standby), and Geography (APAC, Europe, North America, Middle East and Africa, and South America)

Region Covered

APAC, Europe, North America, Middle East and Africa, and South America

Key companies profiled

ABB Ltd., Ablerex Electronics Co. Ltd, AMETEK Inc., Delta Electronics Inc., East Penn Manufacturing Co. Inc., Eaton Corp. Plc, EnerSys, Exide Industries Ltd., Friedhelm Loh Stiftung and Co. KG, Hitachi Ltd., Huawei Technologies Co. Ltd., Legrand SA, Metartec Ltd., Mitsubishi Electric Corp., Power Innovations International Inc., RTX Corp., Schneider Electric SE, Siemens AG, Toshiba Corp., and Vertiv Holdings Co.

 

Key Market Trends Fueling Growth

Uninterruptible Power Supplies (UPS) are essential for various applications across diverse end-user groups, including homeowners, data centers, hospitals, factories, universities, and businesses. Three primary types of UPS systems cater to these needs: Offline/Standby UPS, Line-interactive UPS, and Online Double Conversion UPS. Offline/Standby UPS systems provide backup power during voltage fluctuations or failures. Line-interactive UPS systems offer additional features like output voltage boost/reduction and improved filtering. Online Double Conversion UPS systems offer the highest protection against mains borne interference. Vendors continually innovate to address efficiency, power factor correction (PFC), and voltage conditioning challenges. PFC minimizes power stored and released by UPS components, while voltage conditioning corrects voltage sags and regulates voltage. Vendors manufacture small, low-maintenance, energy-efficient, and cost-effective UPS systems. Data centers, leading UPS demand, require modular UPS to reduce space. Vendors are utilizing wide bandgap semiconductors like silicon carbide (SiC) and gallium nitride (GaN) for improved efficiency, size reduction, and cost savings. Companies like Mitsubishi Electric Corp. And Toshiba Corp. Offer SiC technology UPS systems. Innovations include Eaton’s DIN rail industrial UPS, designed for harsh environments, and Schneider Electric’s Easy UPS 3-Phase Modular, offering third-party verified Live Swap functionality. Vendors focus on silicon-based components, Toshiba’s Advanced-Synchronous Reverse Blocking (A-SRB) technology, and other advancements to enhance UPS system efficiency and performance, driving the global UPS market’s growth. 

The Uninterruptible Power Supply (UPS) market is experiencing significant growth due to the increasing reliance on digital services, data centers, and IT infrastructure in various industries. Trends such as cloud computing, big data analytics, and the Internet of Things (IoT) require continuous power to ensure business continuity. UPS solutions are essential for protecting against power surges, voltage drops, and frequency distortions that can impact critical infrastructure, including telecommunications networks and renewable energy installations. UPS solutions come in different types, including Off-Line/Standby, Line Interactive, and Online/Double Conversion. Industries like banking, healthcare, e-commerce, manufacturing, and IT heavily rely on these solutions to protect their digital infrastructure and electronic devices from power outages caused by natural catastrophes, grid malfunctions, or technological progress. Advancements in battery technology and modular UPS designs, along with intelligent monitoring systems, are driving the market forward. UPS solutions are now being integrated into edge computing and power backup solutions to ensure power quality and prevent voltage sags, surges, and frequency changes. The UPS market is expected to continue growing as businesses prioritize the protection of their critical infrastructure and digital assets. 

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Market Challenges

Uninterruptible Power Supply (UPS) systems are essential for businesses and organizations to ensure power reliability and prevent data loss. However, the life expectancy of UPS components, including batteries, fans, Metal Oxide Varistors (MOVs), electrolytic capacitors, and relays, can be affected by various factors. Batteries may deteriorate due to incorrect placement, high cycling frequency, extreme temperatures, and lack of maintenance. Fans can fail due to high loads, ambient heat, and prolonged usage. MOVs often succumb to excessive voltage spikes, while electrolytic capacitors can fail due to high temperatures and humidity. Relays may malfunction due to abnormal cycling or incorrect firmware setup. These issues can significantly impact the UPS market growth, as component failure can lead to costly downtime and damage for non-residential customers, particularly data centers, where even a single occurrence can result in substantial financial losses. Regular inspections and maintenance can help mitigate these risks and extend the life of UPS components. Despite these efforts, UPS system failures remain a concern, potentially hindering the market’s expansion during the forecast period.The Uninterruptible Power Supply (UPS) market faces significant challenges in providing continuous power to critical infrastructure such as telecommunications networks, data centers, and renewable energy installations. Power outages due to natural catastrophes, grid malfunctions, and voltage sags, surges, and frequency changes pose threats to digital infrastructure, electronic devices, and data-driven businesses. UPS systems come in various types including Off-Line/Standby, Line Interactive, and Online/Double Conversion. Telecommunication, data center construction, edge computing, and power backup solutions are key sectors driving market growth. Technological progress in battery technology, modular UPS designs, and intelligent monitoring systems enhances power quality and efficiency. Governmental efforts towards power infrastructure and energy efficiency further fuel market demand. Healthcare facilities prioritize UPS systems for patient safety. The telecommunication infrastructure, communication services, and 5G technology require uninterrupted power for seamless services. Industrial and manufacturing sectors also rely on UPS systems for power backup and to protect against power quality issues. The marine industry and digital infrastructure also benefit from UPS solutions.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This uninterruptible power supply (ups) market report extensively covers market segmentation by

End-user 1.1 Non-residential1.2 ResidentialType 2.1 Online or double conversion2.2 Line-interactive2.3 Off-line or standbyGeography 3.1 APAC3.2 Europe3.3 North America3.4 Middle East and Africa3.5 South America

1.1 Non-residential- The Uninterruptible Power Supply (UPS) market is essential for businesses seeking uninterrupted power to protect their critical infrastructure from power outages. UPS systems provide backup power during power failures, ensuring business continuity. They prevent data loss and downtime, safeguarding businesses from financial losses and reputational damage. The UPS market continues to grow due to increasing power instability and the need for reliable power sources in various industries.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report

Research Analysis

The Uninterruptible Power Supply (UPS) market caters to various industries including data storage, processing capabilities for digital services and cloud computing, data centers, IT infrastructure, telecommunications, banking, healthcare, e-commerce, and more. UPS solutions protect against power surges, voltage drops, and frequency distortions, ensuring uninterrupted power to telecommunications networks, renewable energy installations, and digital infrastructure. Ratings range from 50-200KVA, with Off-Line/Standby, Line Interactive, and Online/Double Conversion models available. UPS systems are essential for industries with critical power needs, such as medical facilities, industrial applications, marine environments, and electronic devices. Power outages and natural catastrophes further emphasize the importance of UPS systems to maintain business continuity and protect sensitive data.

Market Research Overview

The Uninterruptible Power Supply (UPS) market is a critical segment of the power industry, providing continuous power to data storage, processing capabilities, digital services, cloud computing, and various sectors such as data centers, IT infrastructure, telecommunications, banking, healthcare, e-commerce, and more. UPS solutions protect against power surges, voltage drops, frequency distortions, and other power quality issues that can disrupt critical infrastructure, including telecommunications networks and renewable energy installations. Off-Line/Standby, Line Interactive, and Online/Double Conversion are the three main types of UPS systems, each designed to address specific power backup needs. UPS solutions are essential for powering digital infrastructure, electronic devices, and critical facilities during power outages caused by natural catastrophes, grid malfunctions, or technological progress. Battery technology, modular UPS designs, and intelligent monitoring systems are driving technological progress in the UPS market. Additionally, the increasing adoption of 5G technology, healthcare facilities, data-driven businesses, and governmental efforts to improve power infrastructure and energy efficiency are further fueling the demand for UPS solutions. Power backup solutions are also crucial for manufacturing, IT, data center construction, edge computing, and various industries to ensure continuous power and maintain power quality for their operations.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userNon-residentialResidentialTypeOnline Or Double ConversionLine-interactiveOff-line Or StandbyGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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3 Easy Ways to Save on Payroll Software in 2025

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New survey results from Halfpricesoft reveals key tricks businesses across America have been using to maximize efficiency.

REDMOND, Wash. , Jan. 7, 2025 /PRNewswire/ — With inflation, “shrinkflation,” and corporate price hikes since the pandemic, small businesses are being squeezed by big tech companies into ever-smaller margins. Large coastal tech providers continue raising prices on even the most basic payroll software features, leaving small businesses and bookkeepers to foot the bill.

 

Business experts at Halfpricesoft have spent thousands of hours talking with small businesses from Iowa to Idaho to learn how they are surviving these unprecedented times. From cutting overhead costs to running more effective acquisition campaigns, they found that one of the biggest unnecessary expenses is overpaying for tech products—particularly payroll software. Business owners and accountants shared stories of per-employee fees exceeding $10 and steep charges for adding new companies.

Fixed Price for Employees

The fastest way to save money on payroll is to pick software with a fixed price rather than per-employee charges. Many major providers charge double digits per additional employee, which quickly drives up costs. Instead, choose solutions that offer a fixed rate, regardless of the number of employees.

ezPaycheck, an unlimited-employee payroll solution from Halfpricesoft, does exactly that. With unlimited employees and unlimited checks, bookkeepers, CPAs, and business owners have saved as much as 90% by switching from larger competitors. By focusing on fewer (but essential) features and streamlining development, ezPaycheck has been sold and supported continuously since 2005.

https://www.halfpricesoft.com/index.asp

Accurate, Updated Tax Withholding

One of the most common (and costly) mistakes businesses make is using payroll software that overestimates withholding. When employers send excess funds to the IRS and state governments on behalf of employees, it ties up capital that could otherwise be reinvested into the business.

The key to scaling a  small business or CPA firm is efficient capital allocation, making any significant overpayment of taxes a major liability. Some payroll software, to avoid underpayment, will drastically overcalculate withholdings or fail to handle state tax rates correctly.

Halfpricesoft takes pride in ezPaycheck’s accuracy and rapid updates. Whenever new tax laws or rate changes are announced, ezPaycheck and ezAccounting are updated promptly—often faster than many other solutions on the market. This commitment to accuracy and ease of use explains why ezPaycheck boasts one of the highest customer retention rates in the industry.

Quick Technical Support

Small businesses are often overlooked by larger companies, even when paying thousands of dollars in annual fees. When payroll errors or calculation issues arise, major providers tend to prioritize their biggest clients, leaving smaller businesses with delayed or inadequate support. This oversight can lead to tax penalties and costly mistakes.

ezPaycheck stands out in the payroll market for its fast, attentive support—especially when W-2 and 1099-MISC forms are due at the end of January. During these peak periods, support hours extend to over 12 hours a day, ensuring quick response times. From remote desktop troubleshooting to detailed phone consultations, Halfpricesoft focuses on customer success as one of its guiding principles. Only when small-business partners succeed can a payroll company truly grow.

Conclusion

With a 30 day free trial  and only $169 for an annual license, businesses owners and CPAs are encouraged to try ezPaycheck. With after the fact checks, 941 e-filing, check printing, and misc checks, ezPaycheck is the best payroll software for small businesses who want to scale affordably.

https://www.halfpricesoft.com/index.asp

Halfpricesoft.com is a leading provider of small to mid-size business software, including online and desktop payroll software, online employee attendance tracking software, accounting software, in-house business and personal check printing software, W2, software, 1099 software,1095 form software and ezACH direct deposit software. Software from halfpricesoft.com is trusted by customers for over 20 years and will allow US business owners to simplify payroll processing and streamline business management.

 

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SOURCE Halfpricesoft.com

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Siemens launches new program to empower startups with cutting-edge technology

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Siemens for Startups program to streamline the collaboration process and facilitate partnerships with new innovative companiesSiemens to collaborate with Amazon Web Services (AWS) to deliver access to Siemens Xcelerator ecosystem and accelerate innovation at startups

MUNICH, Jan. 7, 2025 /PRNewswire/ — Siemens today launched Siemens for Startups, a new program to empower early-stage engineering and manufacturing startups. Announced at CES 2025 in Las Vegas, the program will enable new innovative companies to accelerate innovation, streamline development processes and scale faster by providing venture-related services, while reducing the cost of access to Siemens software and hardware.

“Startups are essential to making our customers more competitive, sustainable and resilient. By collaborating with startups, Siemens helps bring breakthrough ideas to industries faster, empowering customers to address global challenges more effectively with cutting-edge technologies, tools and solutions,” said Peter Koerte, Member of the Managing Board of Siemens AG, Chief Technology Officer and Chief Strategy Officer. 

The Siemens for Startups program has three pillars:

Connect 
The new program will help onboard startup companies to the Siemens Xcelerator marketplace, thus providing access to a global go-to-market channel and the Siemens Xcelerator ecosystem.Collaborate 
As an early customer and co-developer, Siemens will collaborate with leading startups through venture clienting. This approach will give Siemens access to cutting-edge capabilities and services and provide startups with the early revenue needed for growth.Empower
Solutions from the “Siemens for Startups” program will provide startups – whether focused on product development or on software development – with packaged access to essential software tools from Siemens Xcelerator.

Partnership with AWS

As part of its ongoing strategic collaboration with AWS, Siemens will link the “Siemens for Startups” program with AWS’s Startup program to accelerate innovation, streamline development processes and enable startups to scale faster. The collaboration underscores both companies’ commitment to fostering entrepreneurship and driving digital transformation in the industrial sector.

“Collaborating with Siemens allows us to extend the capabilities of our AWS Startup program to a new generation of innovators in the engineering and manufacturing space,” said Jon Jones, Vice President and Global Head Startups at AWS. “By providing startups with advanced software, generative AI and cloud services, AWS and Siemens are enabling them to bring their ideas to life more quickly and boost entire industries with cutting-edge solutions.”

Integrating Siemens’ comprehensive suite of industrial software – including design, simulation and manufacturing solutions from the Siemens Xcelerator portfolio – into AWS’s scalable cloud infrastructure and startup program will enable startups to access the tools and resources they need to seize market opportunities. For technical and go-to-market support, qualifying startups will receive AWS credits, business development resources and access to the AWS Activate program.

Showcasing startups

At CES 2025, Siemens highlighted the following startup companies that are collaborating with Siemens’ teams and technology to scale operations.

Arkisys is building one of the first business platforms in space for new technology hosting, satellite integration, assembly and resupply. The Arkisys Port supports scalable rapid prototyping, new payload and technology testing, the assembly and integration of new free-flying space platforms and destinations for orbital transfer vehicles, and on-orbit assembly and manufacturing.Dirac, a Siemens Technology Partner, is a leader in automated manufacturing workflow software, revolutionizing American manufacturing with innovative solutions that bridge the gap between design and production. Its flagship product, BuildOS, is the first automated work instruction platform, using physics-based simulations and manufacturing best practices to automatically generate animated, interactive, 3D assembly-ready work instructions directly from CAD models. BuildOS enables companies to seamlessly transition from design to production while retaining critical tacit knowledge, aggregating and contextualizing it within the design process. As a Technology Partner working alongside Siemens, Dirac has been able to drive enormous value across the Automotive and Aerospace & Defense industries.EthonAI is developing the EthonAI Manufacturing Analytics System (MAS), a powerful software suite designed to achieve operational excellence at scale. The MAS creates a common context across disparate factory data sources, analyzes data using the latest AI techniques, and makes the results accessible through a suite of interoperating applications. The applications within the MAS are specifically tailored to improve operational KPIs such as quality, throughput, uptime, costs and sustainability. Customers using EthonAI have achieved waste reductions of over 50 percent.Haddy is revolutionizing furniture manufacturing with advanced 3D printing and robotics, producing high-quality, sustainable products at a low cost and on a commercial scale. Haddy is building a global network of local micro-factories equipped with hybrid Flexbot systems from CEAD and recycling units that shorten the supply chain and help the environment by reducing waste.Instrumental technology automates failure discovery and root cause analysis in electronics manufacturing — accelerating new product development and improving yield in production. Easy-to-use workflows enable engineers to do failure analysis 100x faster.Tended uses geospatial data and wearable technology to transform the safety of high-risk work environments. The solution provides organizations with enhanced visibility over onsite operations to quickly identify and correct unsafe actions. A high degree of accuracy helps to ensure people, plant and equipment are in the right place at the right time, helping to prevent near misses and accidents.

More information about Siemens for Startups is available at www.siemens.com/startups

This press release is available at:
https://sie.ag/2vXqqh

Follow us at www.x.com/siemens_press

Siemens AG (Berlin and Munich) is a leading technology company focused on industry, infrastructure, mobility, and healthcare. The company’s purpose is to create technology to transform the everyday, for everyone. By combining the real and the digital worlds, Siemens empowers customers to accelerate their digital and sustainability transformations, making factories more efficient, cities more livable, and transportation more sustainable. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a leading global medical technology provider pioneering breakthroughs in healthcare. For everyone. Everywhere. Sustainably. 

In fiscal 2024, which ended on September 30, 2024, the Siemens Group generated revenue of €75.9 billion and net income of €9.0 billion. As of September 30, 2024, the company employed around 312,000 people worldwide on the basis of continuing operations. Further information is available on the Internet at www.siemens.com.

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Tech Mahindra Tops India and Achieves Second Place Globally in the S&P Dow Jones Sustainability Indices 2024 for TSV IT Services Segment

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PUNE, India and NEW YORK, Jan. 7, 2025 /PRNewswire/ — Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries, has announced its recognition as a global sustainability leader by S&P Dow Jones Sustainability Indices (DJSI) 2024, one of the world’s most renowned indices for ESG (Environmental, Social & Governance). DJSI has ranked Tech Mahindra as 1st in India and 2nd globally, with an impressive score of 88 and 100 percentile in the ‘TSV IT services’ segment, highlighting the organization’s unwavering commitment to advancing sustainability across its businesses globally.

The TSV IT services segment comprises three divisions: data processing and outsourced services, internet services and infrastructure, and IT consulting & other services. The announcement follows the recent results of the annual Dow Jones Sustainability Indices rebalancing and reconstitution, marking Tech Mahindra’s inclusion in the DJSI World Index and DJSI Emerging Markets for the tenth consecutive year. The DJSI World Index represents the top 10% of the largest 2,500 companies in the S&P Global Broad Market Index (BMI) based on long-term economic, environmental, and social criteria.

Sandeep Chandna, Chief Sustainability Officer, Tech Mahindra, said, “In a rapidly changing world, organizations must commit to sustainability and resilience, ensuring our actions today pave the way for a better tomorrow. Tech Mahindra is proud to celebrate its inclusion in the prestigious Dow Jones Sustainability Indices for the 10th consecutive year. This sustainability milestone is a testament to our commitment to a greener future and reflects our unwavering commitment to environmental responsibility, social impact, and ethical practices.”

Tech Mahindra’s sustainability initiatives are committed to creating a positive environmental impact and achieving ambitious targets, including Net Zero by 2035, Carbon Neutrality by 2030, and attaining 90% renewable energy sourcing by 2030. The organization also aims to become water-positive by 2030 and ensure 100% Zero Waste to Landfill certification across all owned facilities.

Through the implementation of an internal carbon pricing mechanism, Tech Mahindra drives strategic investments in renewable energy, green buildings, and energy-efficient technologies. This reinforces Tech Mahindra’s position as a global leader in sustainability, committed to creating lasting value for its stakeholders and the planet.

For more information on the Dow Jones Sustainability World Indices components, click here.

For more information on how TechM can partner with you to meet your Scale at Speed™ imperatives, please visit https://www.techmahindra.com/

Tech Mahindra’s Social Media Channels: Facebook, X, LinkedIn and YouTube

Logo: https://mma.prnewswire.com/media/2539364/Tech_Mahindra_Logo.jpg

 

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