The Digital Content market is estimated to be valued at US$ 2.98 Bn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The digital content market includes content such as digital games, apps, music, videos, eBooks, and digitalized physical goods. With the rising adoption of smartphones and smart devices, the consumption of digital content has increased significantly. Digital content empowers users with access to information, entertainment, and the ability to communicate seamlessly.
Market Dynamics:
Growing smartphone penetration is a major driver fueling growth of the digital content market. Rising adoption of smartphones owing to various advantages such as portability, ease of use, and connectivity has spurred demand for digital content. According to research, over 6 billion smartphones were shipped globally in 2021. The availability of high-speed internet connectivity is also supporting market growth. In many developing regions, affordable data plans and availability of public Wi-Fi hotspots have increased internet access. This has boosted online content consumption. Additionally, increasing investments by content producers and publishers to develop engaging and interactive digital content is expected to support market expansion over the forecast period.
SWOT Analysis
Strength: Rack Mount UPS systems provide reliable power support during outages and failures. They have high availability and can operate continuously. Rack Mount UPS have standardized sizes to easily fit into server racks.
Weakness: Rack Mount UPS have high initial installation and maintenance costs. They require regular battery replacements which increases the overall cost of ownership. Complex architecture of Rack Mount UPS makes repair and troubleshooting difficult.
Opportunity: Growth of data centers and emergence of edge computing is driving the demand forRack Mount UPS. They ensure uninterrupted power supply for mission critical applications. Increasing power outages and power quality issues is another growth opportunity.
Threats: Advent of lithium-ion battery based UPS poses a threat as they have longer battery backup. Software and cloud-based solutionsare another threat as they reduce the need for physical infrastructure and on-premise servers.
Key Takeaways
The Global Rack Mount UPS Market is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing deployment of edge data centers and proliferation of cloud computing. The market size for Rack Mount UPS is expected to reach US$ 2.98 Bn in 2023.
Regional analysis North America dominates the global Rack Mount UPS market owing to high investments in data center construction and cloud infrastructure. Asia Pacific is expected to exhibit the fastest growth rate owing to growing penetration of IT services and increasing demand for reliable power supplies from small and medium enterprises in countries like China and India.
Key players operating in the Rack Mount UPS market are Schneider Electric, Eaton, Emerson Electric, Toshiba, Siemens, General Electric, Delta Electronics, Huawei, ABB, Vertiv. Key players are focusing on developing modular and scalable Rack Mount UPS solutions to cater to diverse power requirements of edge computing facilities. They are also investing in lithium-ion battery technology to enhance battery backup capabilities.
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