Nordic Building Automation and Controls Market to Reach $3.18 Bn, by 2027 at 4.9% CAGR: Says AMR

Increase in demand for convenient user experience drive the growth of the Nordic building automation and controls market.

Allied Market Research published a report, titled, "Nordic Building Automation and Control Market by Product Type (HVAC Control, Lighting Control, and Security & Access Control), Offering (Integration & Services), and Industry Vertical (Residential, Enterprise, Industrial, Hospitality, Retail, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027" According to the report published by, the Nordic building automation and controls market was estimated at $2.16 billion in 2019 and is expected to hit $3.18 billion by 2027, registering a CAGR of 4.9% from 2020 to 2027.

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Prime determinants of the market

Increase in demand for convenient user experience drive the growth of the Nordic building automation and controls market. On the other hand, high initial investment and complex interoperability hampers the growth to certain extent. However, evolving market for smart cities is anticipated to offer numerous opportunities for the market players in the approaching time.

Covid-19 scenario-

• The coivd-19 outbreak impacted supply chain and manufacturing processes. In addition, the demand for residential, enterprise, & industrial use of building automation system has been reduced as well.
• However, the government bodies in various regions have eased of the regulations. Owing to this, the manufacturing & supply of building automation and controls system is returning to normal levels.

The HVAC control segment to dominate the market throughout the forecast period

Based on product type, the HVAC control segment contributed to more than two-fifths of the Nordic building automation and controls market share in 2019, and is projected to lead the trail by 2020, owing to the fact that HVAC control system eases the operations of temperature and humidity control. On the other hand, the lighting control segment is expected to exhibit the fastest CAGR of 5.9% throughout the forecast period. This is owing to rise in demand for intelligent street lighting systems, increase in need for energy-efficient lighting systems, and high penetration of LED bulbs and lightings.

The integration segment to lead the trail throughout the forecast period

Based on offerings, the integration segment accounted for more than three-fifths of the Nordic building automation and controls market share in 2019, and is anticipated to retain its dominance till 2027. The growth in infrastructural development, rise in demand for energy efficient control system, and surge in demand for security & access control drive the growth of the segment. Simultaneously, the services segment would showcase the fastest CAGR of 10.4% during the forecast period.

Sweden to rule the roost throughout the forecast period-

Based on countries, Sweden held the major share in 2019, generating more than one-third of the Nordic building automation and controls market. Sweden is a developed country with its citizens capable of installing building automation and control system, which drives the growth of the market. On the other hand, market across Finland is expected to showcase the fastest CAGR of 5.8% from 2020 to 2027. The fact that Finland is a developed country with population has spending capacity for advanced technological up-gradation drives the market growth.

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Key market players-

• Nordomatic AB
• Honeywell
• Regin Group
• Larmia Control AB
• Siemens AG
• Ecolime Group AB
• Bastec AB
• Beijer Electronics
• Caverion Corporation
• Fidelix
• Guard Automation

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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