Market Trends of Latin America Energy Management Systems Industry
This section covers the major market trends shaping the Latin America Energy Management Systems Market according to our research experts:
Brazil to Hold a Major Share in the EMS Market
The Brazilian government announced funding of around USD 200 million to develop smart grids. It also announced plans to deploy smart meters in the entire country by 2021. The aforementioned factors, coupled with Brazil's strong focus on renewable energy generation, are expected to drive the Brazilian smart gas meter market.
With the growing need for natural gas and the construction of pipelines in Brazil, the utility sector is now leveraging the benefits of the Internet of Things to bring about smart gas meters in various businesses. Smart gas metering systems have become the most desirable option, and they are now providing billing accuracy, real-time data monitoring, and improved customer service.
The smart gas meter market acts as a lucrative vertical for the overall smart metering industry in Brazil, and it was recently bestowed with unprecedented gains driven by robust product deployment across the biofuel and natural gas sectors in the region. Besides, the smart gas metering concept is now present in six Brazilian states, including São Paulo, Rio de Janeiro, Paraná, and the Amazonas, involving local providers and consequently boosting the market growth.
Enel accomplished a significant smart city track record in its areas of presence. Some smart city projects across the Latin American region have strived to make broadband accessible to the public, such as Brazil's Rede Cidade Digital, which comprises 300 municipalities.
Increasing Trends Toward Energy Efficiency in Latin America
Latin America is a huge potential market for smart energy globalization. According to the Smart Energy International Projections, by 2029, the area would have deployed over 85 million smart meters. Countries like Brazil, Argentina, Mexico, Colombia, Chile, and Peru are leading the way and will have deployed millions of smart meters by then. Importantly, it is a location where the smart grid's benefits can result in significant increases in energy supply efficiency and reliability, as well as a fair distribution of energy to all.
At the same time, there are unique obstacles that this region faces. Local energy brokering, distributed generation and storage, micro-grids, and electric vehicles also present significant opportunities for LATAM. Investments in technology that address the problems raised above can also serve as the foundation and enablers for a smart energy transition that incorporates these advances.
With increased urbanization and economic growth in the region, there is a greater need for energy services and infrastructure. As a result, towns in the region have the option to integrate renewable energy from the start of the urban planning process and in the extension of existing infrastructure, allowing them to make use of the large renewable resources accessible locally. For example, Santiago de Chile, with a population of around 6.8 million people, is one of the main cities in Latin America, pushing the region's energy revolution. The city has pushed hard for electric buses to be included in its public transportation system.
