Market By Technology, Source, End-user, And Country | Forecast 2019-2028
Triton's report denotes the Latin America virtual power plant market to surge at a CAGR of 19.27% in the estimated period 2019-2028.
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The countries scrutinized in this market include:
•       Brazil
•       Mexico
•       Rest of Latin America
The market is motivated mainly by the numerous initiatives taken by the government in this region to diminish its carbon footprint. Due to high electricity costs in Mexico, the concentration is towards distributed photovoltaic solar power generation, which allows government subsidies to generate electricity from solar energy. Further, there is a shift in the electricity industry as it is now mainly driven by the technology-based system, such as distributed power generation through public and private partnerships. These factors have invited many private competitors to set up their decentralized generation units in the country. Thus, opening up more avenues for the virtual power plant market's growth.
The Brazilian government has encouraged the electricity sector's growth by offering various incentives, which has led to significant development in the country. Most of the country's energy is supplied through hydroelectric power plants, and a particular share is generated from non-renewable sources such as coal, oil, and natural gas. However, the electricity generated through biomass, wind, and solar power plants has been remarkable due to the lack of infrastructure for generation and distribution. The Brazilian market shows a potential and has received investments in alternative energy generation in the last few years. The growth in the energy generation market consequently aids the growth of Brazil’s virtual power plant market.
IBM (International Business Machines) Corporation offers products and services relating to information technology. The company operates in five segments, comprising cloud and cognitive software, global business services, global technology services, systems, and global financing. The firm’s IBM ILOG CPLEX Optimization studio helps to optimize business decisions, develop and deploy optimization models, and create real-world application to upgrade business outcomes.
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VIEW REPORT1. LATIN AMERICA VIRTUAL POWER PLANT MARKET - SUMMARY
2. INDUSTRY OUTLOOK
2.1. MARKET DEFINITION
2.2. KEY INSIGHTS
2.2.1. DEMAND LEADS TECHNOLOGY SEGMENT
2.2.2. RISE IN RENEWABLE ENERGY GENERATION TO DRIVE MARKET
2.2.3. INTEGRATION OF BLOCKCHAIN ENHANCES CAPABILITIES OF VIRTUAL POWER PLANTS
2.3. PORTER’S FIVE FORCES ANALYSIS
2.3.1. THREAT OF NEW ENTRANTS
2.3.2. THREAT OF SUBSTITUTE
2.3.3. BARGAINING POWER OF SUPPLIERS
2.3.4. BARGAINING POWER OF BUYERS
2.3.5. THREAT OF COMPETITIVE RIVALRY
2.4. KEY IMPACT ANALYSIS
2.4.1. PRICE
2.4.2. SCALABILITY
2.4.3. TECHNOLOGY
2.4.4. FEASIBILITY
2.5. MARKET ATTRACTIVENESS INDEX
2.6. VENDOR SCORECARD
2.7. INDUSTRY COMPONENTS
2.7.1. POWER PRODUCERS
2.7.2. VIRTUAL POWER PLANT
2.7.3. DIRECTED ENERGY OPERATORS (DSOS)
2.7.4. END-USERS
2.8. MARKET DRIVERS
2.8.1. GROWING ADOPTION OF DECENTRALIZED POWER GENERATION
2.8.2. INCREASE IN RENEWABLE ENERGY GENERATION
2.8.3. RISE IN TREND OF CLOUD-BASED ENERGY MANAGEMENT SYSTEMS
2.8.4. GOVERNMENT INITIATIVES TO FAVOR MARKET
2.9. MARKET RESTRAINTS
2.9.1. HIGH INITIAL INVESTMENT
2.9.2. LACK OF SKILLED PROFESSIONALS
2.10. MARKET OPPORTUNITIES
2.10.1. GROWTH IN ELECTRIC VEHICLE MARKET TO GENERATE OPPORTUNITIES
2.11. MARKET CHALLENGES
2.11.1. PRIVACY CONCERNS
2.12. IMPACT OF COVID-19 PANDEMIC ON VIRTUAL POWER PLANT MARKET
3. LATIN AMERICA VIRTUAL POWER PLANT MARKET OUTLOOK - BY TECHNOLOGY
3.1. DEMAND RESPONSE
3.2. DISTRIBUTED GENERATION
3.3. MIXED ASSETS
4. LATIN AMERICA VIRTUAL POWER PLANT MARKET OUTLOOK - BY SOURCE
4.1. DISTRIBUTED ENERGY GENERATION SYSTEM
4.2. ENERGY STORAGE SYSTEM
5. LATIN AMERICA VIRTUAL POWER PLANT MARKET OUTLOOK - BY END-USER
5.1. INDUSTRIAL
5.2. COMMERCIAL
5.3. RESIDENTIAL
6. LATIN AMERICA VIRTUAL POWER PLANT MARKET - REGIONAL OUTLOOK
6.1. BRAZIL
6.2. MEXICO
6.3. REST OF LATIN AMERICA
7. COMPETITIVE LANDSCAPE
7.1. ABB LTD
7.2. AUTOGRID SYSTEMS INC
7.3. STATKRAFT
7.4. NEXT KRAFTWERKE
7.5. ENEL X
7.6. GENERAL ELECTRIC
7.7. HITACHI LTD
7.8. FLEXITRICITY LIMITED
7.9. IBM CORPORATION
7.10. OPEN ACCESS TECHNOLOGY INTERNATIONAL INC
7.11. ROBERT BOSCH
7.12. SCHNEIDER ELECTRIC
7.13. SIEMENS
7.14. VIRIDITY ENERGY
7.15. ENBALA
8. METHODOLOGY & SCOPE
8.1. RESEARCH SCOPE & DELIVERABLES
8.2. SOURCES OF DATA
8.3. RESEARCH METHODOLOGY
TABLE 1. LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)
TABLE 2. MARKET ATTRACTIVENESS INDEX
TABLE 3. VENDOR SCORECARD
TABLE 4. LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY TECHNOLOGY, 2019-2028 (IN $ MILLION)
TABLE 5. LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY SOURCE, 2019-2028 (IN $ MILLION)
TABLE 6. LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY END-USER, 2019-2028 (IN $ MILLION)
TABLE 7. LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY COUNTRY, 2019-2028 (IN $ MILLION)
FIGURE 1. PORTER’S FIVE FORCES ANALYSIS
FIGURE 2. KEY BUYING IMPACT ANALYSIS
FIGURE 3. INDUSTRY COMPONENTS
FIGURE 4. LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY DEMAND RESPONSE, 2019-2028 (IN $ MILLION)
FIGURE 5. LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY DISTRIBUTED GENERATION, 2019-2028 (IN $ MILLION)
FIGURE 6. LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY MIXED ASSETS, 2019-2028 (IN $ MILLION)
FIGURE 7. LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY DISTRIBUTED ENERGY GENERATION SYSTEM, 2019-2028 (IN $ MILLION)
FIGURE 8. LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY ENERGY STORAGE SYSTEM, 2019-2028 (IN $ MILLION)
FIGURE 9. LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY INDUSTRIAL, 2019-2028 (IN $ MILLION)
FIGURE 10. LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY COMMERCIAL, 2019-2028 (IN $ MILLION)
FIGURE 11. LATIN AMERICA VIRTUAL POWER PLANT MARKET, BY RESIDENTIAL, 2019-2028 (IN $ MILLION)
FIGURE 12. LATIN AMERICA VIRTUAL POWER PLANT MARKET, REGIONAL OUTLOOK, 2019 AND 2028 (IN %)
FIGURE 13. BRAZIL VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)
FIGURE 14. MEXICO VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)
FIGURE 15. REST OF LATIN AMERICA VIRTUAL POWER PLANT MARKET 2019-2028 (IN $ MILLION)