MicroMarket Monitor
Key Players in the Latin America Demand Response Management System (DRMS) market are GE, Siemens, Schneider Electric, Johnson Controls, ABB, EnerNOC, and Honeywell
(PRWEB) December 16, 2014
The Latin America Demand Response Management System (DRMS) market report defines and segments the concerned market with analysis and forecast of revenue. This market is estimated to grow from $416.8 million in 2014 to $2060.3 million by 2019, at a CAGR of 37.7% from 2014 to 2019.
Demand Response Management System (DRMS) is a peak load management tool with enables users to gain balance between energy supply and demand. Demand Response (DR) and Energy Efficiency (EE) collectively support Demand Side Management (DSM) of energy, which encourages consumers to modify the levels and patterns of electricity consumption, thereby improving the grid reliability.
The DR market space has not picked up pace as expected, due to budgetary constraints for utilities and lack of mandates. The widespread adoption of smart meters and cloud technology platform utilities boosts investments in Research & Development for DR programs.
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DRMS empowers Latin America customers to actively participate in energy markets and profit from optimal price conditions, making the grid more efficient and contributing to the integration of renewable energy sources. This region’s energy efficiency directive contains provisions to encourage market actors to facilitate demand response. Increasing use of energy management technologies for both thermal and electric loads boosts the deployment of demand response in both residential as well as non-residential buildings. Occupants staying in buildings and homes consume electricity to a large extent, and therefore play a significant role in ensuring that proper energy management systems (demand response activations) have been deployed.
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This market is segmented on the basis of Solutions into Commercial and Industrial (C&I) DRMS, residential DRMS and Automated DRMS (ADR). It also provides segmentation on the basis of services curtailment services, system integration and consulting services and managed services. It is further segmented on the basis of devices which include smart appliances (DR Enabled), Networked Home Energy Management (HEM), smart thermostats, Load Control (LC) switches and smart plugs. Also this report contains segmentation on the basis of verticals which are manufacturing, office and commercial buildings, Municipal, University, School, and Hospital (MUSH) Systems, power and energy and agriculture.
The report highlights crucial aspects of the Demand Response Management System (DRMS) market in Latin America, such as market share, value chain analysis, and market metrics including drivers and restraints. Additionally, it also presents a comprehensive estimation of leading companies sustaining a firm hold in this marketplace.
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