Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global sound masking market. In addition, complete analysis of changes on the global sound masking market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The sound masking market declined in 2020. Due to rapid spread of covid-19 virus in the almost every part of the globe, the regulatory bodies in the several developed economies enforced lockdown to restrain the spread of COVID-19 owing to which production and supply chain got restricted in almost every part of the globe. Also, due to lockdown, most of the commercial buildings remained closed which reduced the demand of sound masking system as well. Moreover, covid lockdown caused shutdown of manufacturing industry and retail stores as well which has also caused the decline of sound masking system. However, as the lockdown has been lifted from various parts of the globe and commercial buildings and offices are reopening, it is expected that the sound masking system would grow further.
The sound masking market is expected to witness tremendous growth during the forecast period 2022-2028. The key factors contributing to the growth of global sound masking market is the growing healthcare industry, since this industry is growing rapidly due to which the number of hospitals, pharmaceutical companies, etc. are increasing rapidly and creating the demand for sound masking system. The utility of sound masking system is increasing in hospitals, since they are helpful in making patients sleep early and provide better experience and outcomes to patients in the hospitals, furthermore many hospital environments remain extremely noisy, disrupting patients which has resulted in increased demand for sound masking system. In addition to that, as the privacy concerns are increasing in the corporate offices, the use of sound masking system is increasing rapidly in the offices which has resulted in the growth sound masking system.
The increasing demand for the smart buildings is likely to create the great opportunity for the sound masking system. As the domestic income in various parts of the globe is increasing, the living standard of the people has been also increased which has led to growing demand for the smart buildings. Smart buildings are one that uses technology to enable efficient and economical use of resources, while creating a safe and comfortable environment for the occupants, due to which the implementation of the sound masking system in the smart buildings has become common, since they help in pleasing the environment in smart buildings and increase occupants’ productivity, health and overall well-being. Thus, as the people are moving towards the smart buildings, and spending more on their comfort, it is expected that market share of the sound masking system would grow further.
Sound Masking market is growing at a rapid pace, but key reason which hinders the growth of this market is the high cost of sound masking system due to which this system becomes difficult to implement for the small organization and hampers the growth of this market. Also, due to increased cost of the sound masking, there is less demand of this system in the developing countries and various end-users avoid use of such system in order to save their cost. However, as the technical advancements are taking place in this industry, the cost of sound masking system is also decreasing which is likely to boost the demand for sound masking system in small organizations and other small institutes in coming years.
The key challenge which sound masking market is facing is the expertise to implement and run this system. The sound masking system needs to implemented in floor-to-ceiling walls in order to cover the background noise, also in many of the cases, facility requires the structural or acoustical modifications to make it suitable for the successful implementation of a sound masking system which makes the installation and implementation a major problem for which experts is required. Moreover, after implementation also proper expertise is required in order to run and control the system efficiently. However, market players are actively working towards introducing the sound masking system which can be easily controlled and managed by putting more research and development in these products.
The report provides in-depth analysis of global sound masking market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various sound masking in various applications has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2021-2028.
The sound masking market is bifurcated into Type, Application, Category and Geography.
The global Sound Masking Market is studied for various network and non-networked. The sound masking system is used in both small or large masking zones, this type of sound masking systems is designed to meet a premise’s specific needs along with providing one point of control and great quality of sound, in this type of sound networking system, also the users have full access to the control on sound masking system which is why they are widely popular in the market. Apart from that, non-network type of sound masking system has significant share in the market since this type sound masking is consisting of consisting of speakers, adaptive sensors, noise generators, wiring, amplifiers, etc., this type of sound masking system can be used in both large as well small premises. It is known to provide better speech quality and make environment pleasant.
The various categories analyzed in the global Sound Masking market are Frequency masking and Temporal masking. Based on categories, frequency masking holds an important share in the market. This category of sound masking system helps in reducing distracting high-toned unwanted sound by low-toned frequency sound without impacting the ongoing conversation in the facility. The market share of temporal masking is also increasing rapidly, since this type of sound masking is a time-domain phenomenon in which the duration of a sound and the length between sounds can cause unwanted sounds to be inaudible which makes it more desirable.
The report analyses various applications of Sound Masking such as hospitals and healthcare, hotels, offices, banks and others. Based on the application, hospitals and healthcare is the major application of the sound masking system, since this system in the hospitals helps the patients to get better sleep, control their anxiety level and help to control blood pressure. Also, such system in the healthcare sector help to keep the environment light and pleasant. Moreover, as the privacy concern in the corporates is increasing the demand for such systems is also increasing rapidly, since such system allow the employees to talk frequently without the fear of leaking their communication which makes the working environment also better.
The report analyses various geographical regions such as North America, Europe, Asia Pacific and Rest of the World. Based on Geography, the North America region holds a significant share in the market owing to the presence of large number of hospitals and pharmaceutical companies in the market. People in this region has high domestic income and enhanced living standard which is why they are ready to spend amount on such system which can improve their productivity and make the surrounding environment more aesthetic. Apart from that, Asia-Pacific region is responsible for an important market share, since this region is witnessing significant growth in the healthcare sector, and as the number of advanced hospitals are increasing, the sales of sound masking system is also increasing rapidly in the region.
The Sound Masking market is witnessing high competition owing to presence of many major players in the market. The key companies operating in the Sound Masking market are catering to the demand by collaborating, innovative, acquiring small players and investing in a technologically advanced product portfolio across the globe.
The key players studied in market are DUKANE, Cambridge sound management of QT, GSA sound Masking, Lencore, Communication service corporation, Logison, Pro acoustics, strategic connection and sound masking system,ARCAT, Soft DB, Vibra sonic, Hermanmiller and Pro circuit incorporated among others.
July 2021: Herman Miller announced that it has completed the acquisition of Knoll, Inc. creating the preeminent leader in modern design. The combined company comprises 19 leading brands, a presence across over 100 countries worldwide, a global dealer network, 64 showrooms globally, more than 50 physical retail locations, and global multi-channel eCommerce capabilities.
March 2020: AtlasIED updated its M1000 lineup with the M1000A35 sound masking speaker, which provides 30 watts of power to drive additional passive speakers. It is a self-contained sound masking system, with an internal 5W amplifier and 30W output to power additional M1000 passive speakers.
March 2020: Emmis Communications Corporation announced the acquisition of the sound masking business of Lencore Acoustics Corporation, a leading manufacturer in high-quality sound masking solutions for offices and other commercial application.
December 2018: Biamp Systems, a leading supplier of professional audio and video solutions based in Beaverton, Oregon, announced the acquisition of Cambridge Sound Management (CSM) from Gladstone Investment Corp. Headquartered Massachusetts. Cambridge Sound Management is a pioneer and the undisputed leading brand in the fast-growing sound masking market which will help the Biamp system to grow its business.
A sound masking system is a sound system consisting of speakers, hardware modules, adaptive sensors and amplifiers to which helps in covering or masking the unwanted noise in the any of the facility or the premises. Sound masking system produces a soft, and mild background sound which not only cover the unwanted sound but also help in certain other ways. Such system has applicability in healthcare, offices, banks, hotels and other facilities. The sound masking systems are widely popular in the hospitals, since they help the patients to get quick sleep, make positive impact on their mind and help them in a faster recovery. The global sound masking market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). North America is likely to witness rising demand for sound masking market.
Scope of the Report:
1) What are the major drivers and opportunities in the Sound Masking Market?
Ans: Growing healthcare industry is likely to drive the market for the sound masking system, as the use of sound masking system in the hospitals has proven in better recovery of the patients and has helped to make them comfortable in the hospitals.
2) What are the major strategies adopted by the key players?
Ans: Product launches and deals such as acquisitions, partnerships and agreements are the major strategies adopted by the key players of Sound Masking Market.
3) Which region contributes to the largest market share in Sound Masking Market during the forecast period?
Ans: North America contributes the largest market share in Sound Masking Market during the forecast period.
