COVID-19 IMPACT ON SOUND MASKING MARKET
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. Europe is considered to be the one of the most technically advanced regions across the globe, the region is rich in terms of economy, resources and skilled work force. The region got highly impacted by the covid pandemic, during the covid pandemic, in most of the part of Europe, the lockdown was imposed, which led to shut down of offices, malls, and various other commercial building. Also, tourism industry of the Europe, which is one of the most important industries of the European economy also got high affected and many of the hotels and restaurants remained closed for a long period of time. Thus, as the various markets in this region got affected by the covid pandemic, it has also negatively impacted the market share of sound masking system market. Moreover, due to the covid pandemic, the supply chain industry in the region also got disturbed, which led to downfall of the sound masking system market in the Europe region. In addition to that, popularity of work from home culture, many of the offices in the region remained closed and that affected the market share of the sound masking system. However, it is expected that, as the vaccination has been introduced and restriction on the lockdown been lifted up, it is expected that the market for sound masking system would grow further.
EUROPE SOUND MASKING MARKET- OVERVIEW
MARKET DRIVERS
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 demand of sound masking system in the healthcare sector of the country. The region has highly advanced healthcare system and over the recent years, the use of sound masking system has been increased in the hospitals in order to help the patients to sleep better and keeping the environment healthy in the hospitals. Moreover, in Europe region, the number of commercial buildings is also growing at a rapid pace, which is also expected to drive the market for the sound masking system.
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MARKET OPPORTUNITIES
The increasing demand for the smart buildings is likely to create the great opportunity for the sound masking system. In Europe region, the smart buildings are getting popular rapidly, these buildings are built with the technological advancements, where resources are used in such a way that the residents living in the building can have full access to the all the facilities possible. Thus, as the smart buildings are increasing in the region and residents are looking for more amenities, the popularity of sound masking system is increasing in Europe and creating an opportunity for the sound masking system market to grow further.
MARKET RESTRAINTS
Sound Masking System market is growing at a rapid pace in the Europe region, still the key reason which hinders the growth of this market is the various complications while installing this system into any facility, due to which the sound masking systems are not that popular among the small-scale organizations. Also, these systems require experts while installing, which makes it costlier for the small business and restrict the market to grow further. However, it is expected, owing to the technical advancement and more investment in R&D, the market players are expected to launch the products which can be easily installed.
MARKET CHALLENGES
The key challenge which sounds masking system market is facing in the Europe region is, these systems need structural or acoustical modification in order to install for the results, due to which it becomes difficult for the sound masking system to install at every facility, especially it becomes difficult for the small business to install a sound masking system. Thus, in order to overcome this challenge, the market leaders need to put more emphasis on launching easy to install, and easily controllable products in the market.
CUMULATIVE GROWTH ANALYSIS
The report provides in-depth analysis of Europe 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.
EUROPE SOUND MASKING MARKET- SEGMENTAL OVERVIEW
The sound masking market is bifurcated into type, application, category and country.
EUROPE SOUND MASKING MARKET BY TYPE
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.
EUROPE SOUND MASKING MARKET BY CATEGORY
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
EUROPE SOUND MASKING MARKET BY APPLICATIONS
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 Europe 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.
EUROPE SOUND MASKING MARKET BY COUNTRY
On the basis of geography, Europe region is consisting of the countries like UK, Germany, France, Italy, Spain and Rest of the Europe. In Europe region, Germany and UK are considered to be the most important markets for the sound masking systems. Since, UK and Germany are considered to be the one of the most technically advanced countries and there is a presence of many of the commercial buildings, since it is a hub for the manufacturing. Moreover, the country has well-developed health infrastructure as well, which makes it a potential market for the sound masking system to grow further. Moreover, Europe has a well-established hotel industry, due to which there is a great scope for the sound masking system to grow in this region. Moreover, as the France is growing with increased commercialization, it is expected that the market share of sound masking system would also grow further.
EUROPE SOUND MASKING MARKET- COMPETITIVE LANDSCAPE ANALYSIS
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.
RECENT DEVELOPMENTS :
January 2021: Biamp® announced the Cambridge Qt™ X Series, the industry’s first sound masking solution to offer complete direct and indirect field sound masking in one easy to manage system. Extending Biamp’s leadership in the sound masking category, the next-generation Qt X Series helps protect speech privacy, reduce noise distractions, and increase acoustic comfort in every type of facility — regardless of the architectural design or ceiling type.
August 2019: Soft db announced to 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).
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