Demand Response Management System Market in Latin America 2015-2019
About Demand Response Management System
Demand response management system is an IT solution that helps balance power supply and demand. Load and weather conditions are forecast and loaded into the software, which then calculates and manages production, and loads profiles into the database for future use. With the help of DRMS, end-users can modify their power usage pattern based on the supply of power.
Technavio's analysts forecast the demand response management system market in Latin America to grow at a CAGR of 36.46% over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the demand response management system market in Latin America for the period 2015-2019. To calculate the market size, the report considers revenue generated from demand response management solutions, software, tools, applications, services, support, and maintenance.The report also presents the vendor landscape and a corresponding detailed analysis of the six major vendors in the market. It provides details of the major drivers, challenges, and trends in the market. It also provides segmentation based on solutions and end-users.
Technavio Announces the Publication of its Research Report – Demand Response Management System Market in Latin America 2015-2019
Technavio recognizes the following companies as the key players in the demand response management system market in Latin America: ABB, EnerNOC, GE, Johnson Controls, Schneider Electric and Siemens
Other Prominent Vendors in the market are: Alstom, Comverge, Eaton, Honeywell and Opower
Commenting on the report, an analyst from Technavio’s team said: “As the expense and complexity of deploying DRMS tools on-premises is high, their adoption is limited to large companies in the utilities sector. Consumers prefer cloud-based DRMS solutions, which provide benefits such as scalability, cost savings, and fast time-to-market. This trend is likely to continue during the forecast period, as the customers are not required to invest in datacenters. However, customers are still concerned about the security and reliability of the cloud, which needs to be addressed by DRMS providers.”
According to the report, the demand for power is rising in the majority of countries in Latin America, especially in Brazil, Colombia, and Chile. There is a growing need to reduce electricity consumption because of the demand-supply gap. Smart electricity meters help households monitor and reduce their power usage, which leads to active involvement in DR programs.
Further, the report states that lack of awareness of DR programs hinders the adoption of DRMS among consumers.
ABB, EnerNOC, GE, Johnson Controls, Schneider Electric, Siemens, Alstom, Comverge, Eaton, Honeywell, Opower
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook