The SysTray program (Systray.exe) is responsible for displaying the speaker icon when it is turned on and for hiding the speaker icon when it is turned off.
The SndVol32 program is represented as a speaker icon that appears in the system-tray notification area the taskbar, which appears in the lower-right corner of the Windows screen by default. The SndVol32 program (Sndvol32.exe) controls both the volume settings for various sound sources (such as wave, CD, and synthesizer) and the master volume setting.