London, 22 June 2015 – Technavio has published a new report on the DRMS market in Latin America, which is expected to grow at a CAGR of 37% from 2015-2019.
About the Report
According to the latest report by Technavio, 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 demand response programs,” says Faisal Ghaus, Vice President of Technavio.
The new market research report by Technavio also emphasizes the ever increasing demand for cloud-based solutions, as they provide benefits like scalability, cost savings, and faster time-to-market. With the expense and complexity of deploying DRMS tools on-premises being high, their adoption is limited to large companies in the utilities sector. “Customers are still concerned about the security and reliability of the cloud, which needs to be addressed by DRMS providers before the technology fully takes off,” says Ghaus.
Market Scope and Calculation of Market Size
The new Technavio report covers the present scenario and growth prospects of the DRMS market in Latin America from 2015-2019. To calculate the market size, the report considers revenue generated from DR management software, solutions, applications, services, support, and maintenance.
Key Information Covered in the Report:
Key Vendors:
- ABB Ltd.
- EnerNOC Inc.
- Johnson Controls Inc.
- Siemens AG
Market Growth Drivers:
- Adoption of Smart Meters
- For a full detailed list, view our report.
Market Challenges:
- Lack of Awareness of DR Programs
- For a full detailed list, view our report.
Market Trends:
- Increased Demand for Cloud-Based Solutions
- For a full detailed list, view our report.
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
