The global sound masking system market is anticipated to record a CAGR of around 5% throughout the forecast period 2019-2027
Research Nester has released a report titled “Sound Masking System Market – Global Demand Analysis & Opportunity Outlook 2027” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
Sound masking systems lower the unwanted noise in an indoor premise by producing white and pink noise patterns. The sound masking systems often consists of speakers, sensors and amplifiers that power these components. Rising need for silent environments in indoor premises, especially for public places, such as hospitals, offices, schools and temple among others, which are often believed to have a silent and peaceful environment owing to their purpose of work, is believed to drive the growth of the global sound masking system market. Additionally, increasing number of civil constructions around the globe that has gave birth to numerous residential and commercial buildings, along with the change in designs observed in commercial and office spaces has raised 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. On the other hand, with open work policy being deployed in offices, modern offices are built with open work platforms and less cabins. The disturbances hence observed and faced by employees owing to the communication going on between other employees of the office or for any undergoing meetings is also raising the need for the deployment of such sound masking systems in indoor premises. Such factors are anticipated to drive the growth of the global sound masking system market.
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The global sound masking system market is anticipated to record a CAGR of around 5% throughout the forecast period 2019-2027 on account of 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. Additionally, the global sound masking system market was valued at USD 150 million in the year 2018, and it is further anticipated to cross USD 220 million by the end of 2027.
The global sound masking system market is segmented by type of technology into QT100, QT200 and QT600. Among these segments, the QT100 segment is anticipated to hold the largest market share by the end of 2027 and reach a value of around USD 100 million by the end of 2027 by growing at a CAGR of around 5% over the forecast period, i.e. 2019-2027. Additionally, the segment in the global sound masking system market held a market share of around 43% in the year 2018.
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Geographically, the global sound masking system market is segmented by five major regions into North America, Europe, Middle East & Africa, Asia-Pacific and Latin America region, out of which, Europe, which is anticipated to grow by a growth rate of around 1.50x during the assessment period, 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. The sound masking system in Europe is anticipated to grow on account of the growth in the hotel industry backed by increasing revenue per available rooms (RevPAR) and increasing number of exhibitions being organized in hotels. Moreover, the North America sound masking system market 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.
However, concerns for the lack of awareness amongst consumers for sound masking systems is estimated to act as a barrier to the growth of the global sound masking system market.
This report also studies existing competitive scenario of some of the key players of the global sound masking system market, which includes 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 comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Sound Masking System Market – Global Demand Analysis & Opportunity Outlook 2027”, analyses the overall sound masking system industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global sound masking system market in the near future.
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