The Nordic Building automation and control Market will exceed 3 billion USD by 2027
According to a recent report published by Allied Market Research, titled, “Nordic Building automation and control Market by Product Type, Offering, and End Use: Opportunity Analysis and Industry Forecast, 2020-2027,” the Nordic building automation and control industry size was valued at $2.16 billion in 2019, and is projected to reach $3.18 billion by 2027, growing at a CAGR of 4.9% from 2020 to 2027.
Building automation and control system is the automatic centralized control for heating, ventilation, & air conditioning; lighting; and security & access control systems. The building automation and control system uses sensors, detectors, relays, and other smart components integrated with intelligent electronics, which gives access to central computing system to operate. They are used in various industry verticals such as industrial, enterprises, retail, hospitality, residential, and others.
The key players that have major global Nordic building automation and control market share include Bastec AB, Beijer Electronics, Caverion Corporation, Fidelix, Guard Automation, Nordomatic AB, Honeywell, Regin Group, Larmia Control AB, Siemens AG, and Ecolime Group AB, which are profiled in this report. The Nordic building automation and control industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements, among others, to influence the market growth.
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