Acoustic Engineering Services Procurement Category Market Research Report from IBISWorld Has Been Updated

Buyers in the acoustic engineering services market gain advantages due to the low market share concentration and the stable input costs and financial health of providers. For these reasons and to help procurement professionals make better buying decisions faster, business intelligence firm IBISWorld has updated a report on the procurement of Acoustic Engineering Services in its growing collection of procurement category market research reports.

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IBISWorld procurement market research
Growth in construction activity is projected to increase demand and prices for acoustic engineering services.

Los Angeles, CA (PRWEB) June 10, 2014

Acoustic engineering services have a buyer power score of 3.4 out of 5. This score is indicative of favorable conditions for the buyer, despite growing demand, high specialization and switching costs, and the low availability of substitutes. According to IBISWorld procurement analyst Keiko Cadby, “Buyers gain advantages due to low market share concentration and the stable input costs and financial health of acoustic engineering service providers.”

In the three years to 2014, the recovering US economy has led to overall renewed funding and demand for construction and related activities, which has fueled an upward trend in prices for acoustic engineering services. The need for these services is anticipated to grow over the next three years due to consistent demand from industrial production and construction markets, as well as greater government funding for transportation development. “This demand growth has been favorable for suppliers, and prices are expected to continue rising, although slowly, in the three years to 2017,” says Cadby. Acoustic engineering services are also specialized and require operators to create customized solutions for buyers, restricting buyer power. The availability of substitute services is low, because projects and programs require highly skilled workers to provide acoustic engineering solutions.

However, the market's low concentration is favorable for buyers. Most providers are nonemployers and small companies, which compete heavily on price, driving up negotiating power for buyers. Although the market's few large companies have set prices due to brand quality, low market share concentration gives buyers a variety of options to choose from when sourcing acoustic engineering services. Buyers are encouraged to bundle their project needs from providers that can offer related services, and elicit multiple bids from vendors to increase options and bolster price competition. The top four vendors in the market are Fluor, Raytheon, Parker Hannifin and Jacobs Engineering Group.

For more information, visit IBISWorld’s Acoustic Engineering Services procurement category market research report page.

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IBISWorld Procurement Report Key Topics

This report is intended to assist buyers of acoustical engineering services. These services include architectural and environmental acoustic consulting as well as mechanical services, such as noise and vibration and building structural vibration services. This report does not include soundproofing construction materials, sound studio services or sound engineering equipment.

Executive Summary
Pricing Environment
Price Fundamentals
Benchmark Price
Pricing Model
Price Drivers
Recent Price Trend
Price Forecast
Product Characteristics
Product Life Cycle
Total Cost of Ownership
Product Specialization
Substitute Goods
Regulation
Quality Control
Supply Chain & Vendors
Supply Chain Dynamics
Supply Chain Risk
Imports
Competitive Environment
Market Share Concentration
Market Profitability
Switching Costs
Purchasing Process
Buying Basics
Buying Lead Time
Selection Process
Key RFP Elements
Negotiation Questions
Buyer Power Factors
Key Statistics

About IBISWorld Inc.
IBISWorld is one of the world's leading publishers of business intelligence, specializing in Industry research and Procurement research. Since 1971, IBISWorld has provided thoroughly researched, accurate and current business information. With an extensive online portfolio, valued for its depth and scope, IBISWorld’s procurement research reports equip clients with the insight necessary to make better purchasing decisions, faster. Headquartered in Los Angeles, IBISWorld Procurement serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.


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    IBISWorld Inc.
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