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 North America region has been majorly impacted by the covid pandemic, due to which the regulatory bodies in the region imposed lockdown in most of the part of North America to restrain the rapid spread of the covid virus. Owing to the imposed lockdown in the region, the market for the sound masking system got negatively impacted, since the offices, hotels and other commercial building remained closed during the covid period and the demand for sound masking system decreased during this period. Moreover, due to the imposed lockdown, many of the manufacturing units also remained closed for a temporary period of time which majorly affected the sound masing system market. However, as the lockdown has been lifted up in most of the North America and vaccination to prevent the covid virus has been introduced, and commercial buildings have been reopened, it is expected that the market share of sound masking system would boost in coming years.
The sound masking market is expected to witness tremendous growth during the forecast period 2022-2028. The major reason which is driving the market for the sound masking system is the increased use of these systems in the healthcare industry of the North America region. The region has one of the most advanced healthcare industries across the globe, and the number of healthcare facilities in the region is also high, which creates the demand for sounding masking system. The popularity of sound masking system in the hospitals is growing, as they are helpful in masking the noise make by large number of visitors in the hospitals on a daily basis. Moreover, North America has a large number of corporate houses, where use of sound masking system is increasing in order to maintain speech privacy in the facility.
The increasing demand for the smart buildings is likely to create the great opportunity for the sound masking system. North America is considered to be the region with a high living standard, due to which the number of smart buildings in the country is high. These buildings are built with technological upgradation, which are built with efficient and economical use of the resources so that the occupants can live in these buildings comfortably. Thus, with growing smart building in the region, the use of sound masking system is increasing in the North America and creating an opportunity for the sound masking system market to grow further.
Sound Masking System market is growing at a rapid pace in the North America region, but the major reason which hinders the growth of this market is the high cost of these systems which makes it difficult to install for the small organizations, and it restrict the growth of sound masking system as well. However, it is expected that as the market is growing further and the new products are coming into the market with emphasis on technological advancement as well as pricing, it is expected the market share for the sound masking system would grow further in coming years.
The key challenge which sounds masking system market is facing in the North America region is, this system requires expertise to implement in any of the organization which make it difficult to install at the organizations which do not have technical expertise. Also, these systems need structural or acoustical modification in order to install for the better result. Thus, for many of the small-scale organizations, it becomes difficult to install the sound masking system. However, it is expected that, as the market player are continuously focusing towards research & development on sound masking system, the more easily controllable products are likely to be launched in the coming years, to overcome from this challenge.
The report provides in-depth analysis of North America 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 Country.
The Sound Masking Market is studied for various types which include network and non-networked. In order to meet the specific needs of the premise, along with providing one point of control and great quality of sound, the end-users prefer network type of sound masking system. In network sound masking system, the end-users have the full access to the system, due to which they are highly 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. These sound masking systems re known to provide better speech quality.
The various categories analyzed in the global Sound Masking market are Frequency masking and Temporal masking. Frequency masking system are considered to hold important share in the market, since, 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 which make it popular among the end-users. On the other hand, 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 the North America region is likely to have a large number of healthcare facilities, which include hospitals, pharmaceutical companies, laboratories, etc. These systems are helpful in the hospitals to help the patients to get better sleep and keep the environment light and pleasant. Moreover, as the privacy concerns are raising in the workplaces, the demand for sound masking system is raising at the corporate offices as well.
On the basis of geography, North America region is consisting of the countries like USA, Mexico and Canada. In North America region, US is considered to be the most important country for the sound masking system, since the country has a great number of hospitals, healthcare facilities, and the commercial buildings. In addition to that, the country is known to be the technically advanced and the with growing privacy concern, noise issues in the various commercial institution, the popularity of the sound masking system is increasing rapidly. Apart from that, as the banking industry of the Canada is growing at a rapid pace and the commercialization is growing at a rapid pace which is creating the demand for sound masking system in the market.
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.
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 North American sound masking market is studied for USA, Canada and Mexico.
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 Country contributes to the largest market share in Sound Masking Market during the forecast period?
Ans: United States contributes the largest market share in Sound Masking Market during the forecast period.
