DUBLIN, July 10, 2015 /PRNewswire/ --
Research and Markets(http://www.researchandmarkets.com/research/8cnf7l/demand_response) has announced the addition of the "Demand Response Management System Market in Latin America 2015-2019" report to their offering.
The demand response management system market in Latin America to grow at a CAGR of 36.46% over the period 2014-2019.
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.
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.
- Johnson Controls
- Schneider Electric
Other Prominent Vendors
Key Topics Covered:
- Executive Summary
- List of Abbreviations
- Scope of the Report
- Market Research Methodology
- Market Landscape
- Market Segmentation by Solutions
- Market Segmentation by End-users
- Key Leading Countries
- Buying Criteria
- Market Growth Drivers
- Drivers and their Impact
- Market Challenges
- Impact of Drivers and Challenges
- Market Trends
- Trends and their Impact
- Vendor Landscape
- Key Vendor Analysis
For more information visit http://www.researchandmarkets.com/research/8cnf7l/demand_response
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SOURCE Research and Markets