Research Nester has released a report titled “Sound Masking System Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global sound masking system market in terms of market segmentation by type, by type of technology, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global sound masking system market is segmented by type of technology into QT100, QT200 and QT600, out of which, the QT100 segment, which held a share of around 43% in the year 2018, is anticipated to hold the largest market share by the end of 2027 by growing at a CAGR of around 5% over the forecast period, i.e. 2019-2027. Further, the segment is also anticipated to reach a value of around USD 100 million by the end of 2027.
The global sound masking system market is anticipated to achieve a CAGR of around 5% during the forecast period and cross USD 220 million by the end of 2027 from USD 150 million in the year 2018 owing to the need for silence in most public buildings and public spaces and the growing advancement in sound technology systems which has led to the birth of sound masking systems.
Regionally, the global sound masking system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, Europe is anticipated to hold the largest market share and grow by a growth rate of around 1.50x during the assessment period owing to the growth in the hotel industry backed by increasing revenue per available rooms (RevPAR) and increasing number of exhibitions being organized in hotels. The sound masking system market in Europe is primarily driven by nations such as such as Germany, UK, France, Spain and others, where Germany held the dominant market share of around 15% during the year 2018. Additionally, the sound masking system market in North America is primarily driven by nations such as U.S. and Canada where U.S. accounted for the largest market share of around 82% in the year 2017.
Growing Need for Silent Indoor Premises
Any public place, such as hospitals, offices, schools and temple among others are often believed to have a silent and peaceful environment owing to their purpose of work. With increase in the total number of residential and commercial buildings that has been built over the ages along with the dynamic change observed in the design of commercial and office spaces often requires the need for the deployment of sound masking systems to maintain the level of unwanted noise, especially in offices and schools, where concentration on work is utmost important without any unwanted disturbances from noise. Moreover, it has also been observed that in modern offices, which are built to maintain the open work policy, disturbances are felt due to employee conversations or meetings happening in different cabin inside the same office premises. Such factors are anticipated to raise the need for the deployment of sound masking systems, and in turn drive the growth of the global sound masking system market in the upcoming years.
However, concerns regarding the lack of awareness about such systems amongst consumers is anticipated to limit the growth of the global sound masking system market.
This report also provides the existing competitive scenario of some of the key players of the global sound masking system market, which includes company profiling of Biamp Systems, Soft db, Lencore Acoustics Corp., Dukane AV, Pro Acoustics® LLC, K.R. Moeller Associates Ltd., Soundmask Global Pty. Ltd., MPS LLC and Vibra-Sonic Control. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global sound masking system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.