The uninterrupted power supply market is going to witness a boom in demand in the new year, as with the growing power consumption needs there is a strong demand for innovative UPS solution nowadays. Microtek, the market leader in India, making big efforts to fulfil this demand and planning to leverage the opportunities in 2023.
Key Trends to Dominate
Growth in power supply solution in recent years can be attributed to increase in remote working setup, emergence of startup culture, creating smart cities and others. There are lot of innovations and technology advancement which are shaping this market in India now. Sharing his thoughts, Subodh Gupta, CMD, Microtek International Pvt. Ltd. said, “the uninterrupted power supply (UPS) system market in India is likely to grow at a CAGR of over 9% in the year 2023. The top two trends that I expect are that the new year is going to witness a strong increase in demand for UPS systems from tier-2 and tier-3 cities. With the Indian government’s focus on developing smart cities and digital India, non-metro cities are slated to play an instrumental role in steering the growth of the UPS system market in 2023.”
“Sustainability has become important today like never before. Every sector is working on technologies or implementing strategies that help to save the environment. It’s not just businesses but end users who also want to invest in products that help to conserve our resources. So, we will see better adoption of ‘green’ UPS systems in India in 2023,” said Subodh.
Market Strategies to Bolster Business Growth
Speaking about the plans for accelerating the business growth, Subodh said, “Our product strategy is simple which is to introduce new technologically advanced products at competitive price points. As a market leader, we have always aspired to utilize our R&D resources to launch innovative products that improve efficiency and reduce power consumption. Our channel partners are integral to our go-to-market plans and we will continue to launch incentive schemes that address to their interests too.”
