Pune, India, July 2019, MRFR Press Release/- Market Research Future has Published a Cooked Research Report on the Global Sound Masking System Market.
The Global Sound Masking System Market is expected to reach 171.38 Million by 2025, registering a CAGR of 4.8% during the forecast period (2019–2025). In this report, Market Research Future (MRFR) includes market segmentation and market dynamics to offer a better glimpse of the market in the coming years.
Office workers need speech privacy in corporate complexes. To ensure this, several enterprises around the world are deploying sound masking systems in their office buildings. Sound masking system is an electronic acoustical product that enables speech privacy of employees working in both closed and open office environments. Furthermore, sound masking reduces noise disturbance caused by office machinery and other unwanted sounds, enabling employees to concentrate better and enhance their productivity. A sound masking system comprises masking noise generator, amplifiers, an equalizer, and loudspeakers placed above the ceiling tile. An artificial sound referred to as pink or white noise, produced through the loudspeakers by using auditory masking, is added to an office environment to reduce unwanted sound. In November 2017, Cambridge Sound Management, Inc., a provider of sound masking technology partnered with Lutron Electronics, the leader in energy-saving, wireless lighting and shade control, to provide sound masking systems in various sites such as conference rooms, huddle rooms, lobbies, and medical offices. This helps the company that helps in speech protection in private and public spaces. Thus, the need for speech privacy in office buildings is expected to fuel the growth of the global sound masking system market during the forecast period.
The Global Sound Masking System Market has been segmented into type and application.
Based on type, the sound masking system has been categorized as networked and non-networked. The networked segment accounted for the larger market share in 2018 and is expected to register a CAGR of 4.6% during the forecast period. The networked sound masking can be installed in areas including office environments, healthcare facilities, education institutes, and hotels buildings. This one of the major factors responsible for the growth of the networked system market during the forecast period.
Source: MRFR Analysis
By application, the sound masking system market has been segmented into hospitals & healthcare, hotels, offices, education, and others. The offices segment accounted for the largest market share of 36.1% in 2018, and it is expected to register a CAGR of 5.0% during the forecast period. This is due to the increasing need for speech privacy in an office environment, especially from the nearby surroundings. Furthermore, sound masking systems help to provide a comfortable working environment for the employees by making human speech less intelligible. These are some of the factors responsible for the larger market share of the office segment in the sound masking system market. Whereas the hospitals and healthcare segment was the second-largest market in 2018, valued at USD 27.07 million; it is projected to register the highest CAGR during the assessment period.
The prominent players operating in the sound masking system market are Cambridge Sound Management (US), K.R. Moeller Associates Ltd (Canada), Soundmask Global Pty Ltd (Australia), Speech Privacy Systems (US), AtlasIED (US), AET (UK), SoftDB (Canada), Lencore (US), Jade Communications Inc.(US), Pro Circuit Inc. (US), and Dukane AV Inc. (US).
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Regionally, the sound masking system market is divided into the US, Europe, China, Japan, India, South-East Asia, Central and South America, and the rest of the world.
The US was the second-largest market in 2018, valued at USD 20.82 million; it is projected to exhibit a CAGR of 6.2%. The growth is attributed to the rising adoption of sound masking system by SMEs and rapid technological advancements in this country. Furthermore, the increasing need for sound masking systems in the healthcare, BSFI, and education sectors is also the driving factor for the growth of the sound masking systems market in the country. Also, due to the presence of leading players such as Biamp Systems, Encore, Speech Privacy Systems, AtlasIED, and Jade Communications are based in the US and investing heavily in R&D to remain competitive in the market.
Currently, China presents a large number of opportunities in the sound masking system market. Companies based in China are investing heavily to capture the market. TACT, Hero Electronics Co., Limited, and Nanjing Superstar Medical Equipment Co., Ltd are some of the leading players operating in the global sound masking market. Chinese businesses are significantly investing in the sound masking technology for increasing their efficiency and productivity in businesses that eventually helps in keeping up the pace with the changing technology trends. Furthermore, Chinese government initiatives to strengthen the network of its domestic sound masking system providers is also one of the factors significantly driving the growth of the market.