Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSDecember 2018: Biamp Systems announced that it has acquired one of the pioneers of sound masking system market, Cambridge Sound Management (CSM) from Gladstone Investment Corp.
August 2019: Soft db announced that it has launched a Chicago Plenum variety of one of its sound masking speaker products, the SMS-SURF4, which complies with the regulations of the City of Chicago Environmental Air (CCEA).
Market Overview
The growth of the global sound masking system market is thriving on the back of growing advancement in sound technology systems which has led to the birth of sound masking systems, along with the need for silence in most public buildings and public spaces. Sound masking systems include a set of speakers, sensors and amplifiers, interconnected to each other. The speakers are installed in different places where there is a necessity to reduce unwanted noise. These speakers produce two different type of noises, namely white noise and pink noise, which makes the user present in the area to perceive as if there are no background sound distractions. Sound masking systems are widely used for places which require silence, such as offices and hospitals, as any distractions through noise reduces the level of concentration of the workers present in the environment.
The global sound masking system market reached around USD 150 million in the year 2018 and is expected to cross USD 220 million by the end of 2027 by registering a CAGR of around 5% across the globe over the forecast period 2019-2027.
Growth Highlights based on Region during 2018-2027
The global sound masking system market is segmented by regions into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa. Among these regions, the market of Europe sound masking system is driven primarily by nations such as Germany, UK, France, Spain and others, where Germany held the dominant market share of around 15% during the year 2018. The growth in the region can be attributed to the overall growth in the hotel industry backed by increasing revenue per available rooms (RevPAR) and increasing number of exhibitions being organized in hotels. Additionally, Europe is expected to expand by observing the growth rate of around 1.50x during the assessment period, which in turn is estimated to have a positive effect on the demand for sound masking systems in the long run.
Further, U.S. and Canada are the prominent countries that are driving the growth of the North America sound masking system market where U.S. accounted for the largest market share of around 82% in the year 2017. CLICK TO DOWNLOAD SAMPLE REPORT
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Market Segmentation Synopsis
By Type of Technology
The global sound masking system market has been segmented on the basis of type of technology into QT100, QT200 and QT600. QT100 segment, with around 43% share in the year 2018, occupies the largest market of sound masking systems across the globe. Additionally, the QT100 segment is anticipated to cross USD 100 million by the end of 2027 and is anticipated to flourish at a CAGR of around 5% over the forecast period.
Market Drivers and Challenges
Growth Indicators
Over the years, a massive surge in the number of residential and commercial buildings have been observed which is anticipated to raise the need for the deployment of a large number of sound masking systems. Moreover, commercial and office spaces have seen a dynamic change in the design perspective. The demand for spaces which promote a calm environment has also grown significantly. Moreover, in the recent years, office spaces have transformed to follow open space policies. As such, the level of noise inside these open space offices have increased significantly owing to the conversations of the employees, which at times might be disturbing to other people, breaking their concentration. The increasing need to address such issues raises the need to deploy sound masking systems, which in turn is anticipated to drive the growth of the market throughout the forecast period.
Barriers
Lack of awareness for sound masking systems amongst individuals and business organizations is anticipated to effect negatively towards the growth of the global sound masking system market.
Competitive Landscape
Some of the affluent industry leaders in the global sound masking system market are 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.
Increasing urbanization and the infrastructural developments, along with growing need for silent indoor premises are some of the major factors that are driving the growth of the market.
The market is anticipated to attain a CAGR of around 5% over the forecast period, i.e. 2019-2027.
Europe is anticipated to hold the dominating share in the market.
With the presence of nations such as U.S. and Canada in North America, the region is anticipated to provide more business opportunities for the growth of the market in the future.
The major players in the global sound masking system market are 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 company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is majorly segmented by type, by type of technology, by end user and by region.
The QT100 segment, which is a sub-segment of the type of technology segment, held a share of around 43% in the year 2018 and is anticipated to grow at a CAGR of around 5% over the forecast period.
Lack of awareness of sound masking systems is a major factor anticipated to act as a barrier towards the growth of the global sound masking system market.
Global Sound Masking System Market
Chapter 1 Market Introduction & Market Dynamics
1.1 Introduction
1.2 Market Dynamics
1.2.1 Market Drivers
1.2.1.1 Increasing building constructions across the globe
1.2.1.2 Increasing demand for smart spaces
1.2.2 Market Restraints
1.2.2.1 Lack of awareness in the market
Chapter 2 Assessment of Type of Office
2.1 Open Office
2.2 Private Office
2.3 Public Office
Chapter 3 Analysis of Technologies Used in Sound Masking System
3.1 Adaptive Volume Control
3.2 Automatic Equalization
3.3 Wire or Wi-Fi Networked System
Chapter 4 Opportunities for Potential Players in the Global Sound Masking System Market
4.1 By Type
4.2 By End-use and type
4.3 By Geography
Chapter 5 Analysis of Ongoing Trends in Sound Masking System Market
5.1 Rising Adoption in Healthcare Industry
5.2 Introduction of Fusion Sound Masking Technology
Chapter 6 Global Sound Masking System Market, By Machine Type
6.1 Regular
6.2 Automatic
Chapter 7 Global Sound Masking System Market, By Technology
7.1 QT100
7.2 QT0
7.3 QT0
Chapter 8 Global Sound Masking System Market, By End- use and Type
8.1 Hotels
8.2 Hospitals
8.3 Recording Studios
8.4 Offices
8.5 Banks
8.6 Public Spaces
Chapter 9 Global Sound Masking System Market, By Region
9.1 Global
9.2 North America
9.2.1 United States
9.2.2 Canada
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 France
9.3.4 France
9.3.5 Italy
9.3.6 Spain
9.3.7 Benelux
9.3.8 Nordic
9.3.9 Hungary
9.3.10 Poland
9.3.11 Turkey
9.3. Russia
9.3. Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 India
9.4.3 Japan
9.4.4 South Korea
9.4.5 Indonesia
9.4.6 Malaysia
9.4.7 Australia
9.4.8 New Zealand
9.4.9 Rest of Asia Pacific
9.5 LATAM
9.5.1 Brazil
9.5.2 Mexico
9.5.3 Argentina
9.5.4 Rest of LATAM
9.6 MEA
9.6.1 Israel
9.6.2 GCC
9.6.3 North Africa
9.6.4 South Africa
9.6.5 Rest of MEA
Chapter 10 Company Profiles
10.1 CAMBRIDGE SOUND MANAGEMENT INC
10.1.1 Business Overview
10.1.2 Financial Data
10.1.3 Product Portfolio
10.2 COMMUNICATION SERVICE CORPORATION
10.2.1 Business Overview
10.2.2 Financial Data
10.2.3 Product Portfolio
10.3 DUKANE CORPORATION
10.3.1 Business Overview
10.3.2 Financial Data
10.3.3 Product Portfolio
10.4 LENCORE
10.4.1 Business Overview
10.4.2 Financial Data
10.4.3 Product Portfolio
10.5 LOGISON
10.5.1 Business Overview
10.5.2 Financial Data
10.5.3 Product Portfolio
10.6 PRO ACOUSTIC LLC
10.6.1 Business Overview
10.6.2 Financial Data
10.6.3 Product Portfolio
10.7 SOFT DB
10.7.1 Business Overview
10.7.2 Financial Data
10.7.3 Product Portfolio
10.8 SOUNDMASKGLOBAL PTY LTD
10.8.1 Business Overview
10.8.2 Financial Data
10.8.3 Product Portfolio
10.9 MPS LLC
10.9.1 Business Overview
10.9.2 Financial Data
10.9.3 Product Portfolio
10.10 VIBRA SONIC CONTROL
10.10.1 Business Overview
10.10.2 Financial Data
10.10.3 Product Portfolio
Chapter 11 APPENDIX
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