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[ 176 + Pages Research Report ] Impact of COVID-19 on Digital scent technology Market to surpass USD 1424.4 million by 2031 from USD 534.3 million in 2021 at a CAGR of 10.3% in the coming years, i.e., 2021-2031.
Product Overview
The digital scent technology Market enables the transmission of smell over digital media such as web pages, movies, and music. Digital scent technology works with the help of electronic noses and olfactometers. Digital scent technology gives the benefit of getting the fragrance of the product before buying it online, which will make online shopping more enjoyable and interesting. Digital scent technology also allows users to produce and modify their fragrances. The technique utilizes hardware components comprising gas sensors such as e-nose and fragrance synthesizers, which help in sensing and synthesizing different types of smells.
Market Highlights
The global Digital scent Technology Market is expected to project a notable CAGR of 10.3% in 2031.
Factors such as increasing use of e-noses in the food industry for quality assurance in production and storage, advancements technologies, and expanding application in e-nose are expected to continue pushing sales in the forthcoming years. The growing use of e-nose devices for disease diagnostic applications is expected to create a huge demand for Digital scent technology.
Global Digital scent technology Market: Segments
E-nose segment to grow with the highest CAGR during 2021-31
Based on Hardware Device, the global Digital scent technology Market is fragmented into E-nose, Scent Synthesizer. E-nose is expected to dominate the global digital scent technology market through the forecast period. e-nose is commonly used in different industries, including military and defense, healthcare, and food and drinks. Technological advancements and the decreasing cost of e-noses are the primary factors driving e-nose growth during the forecast period.
A medical segment to grow with the highest CAGR during 2021-31
Global Digital scent technology Market is classified based on application into Food & Beverage, Military & Defense, Medical, Marketing, Environmental Monitoring, Entertainment, Others. Based on the devices, the medical segment has the largest market share due to the growing use of digital smell technology in medical diagnostics, treatment choices, and metabolic disorders nutritional status. Using E-noses people manage their health more effectively and provide healthcare professionals detailed information about their patients. Rising incidences of diseases such as TB and cancer are driving the use of medical diagnostic products that are based on digital scent technology.
Market Dynamics
Drivers
Increasing applications and adoption of the digital scent technology in the healthcare
E-nose is a propitious technology in its potential to assist in diagnosis. The earlier detection of any diseases increases the chances for an effective treatment, there is a demand for simple, fast, and qualitative diagnostic procedures. In the healthcare sector, digital scent technology is used in aromatherapy for healing certain diseases by using different types of fragrances. Aromatherapy aids in diagnosing brain disorders. The healthcare industry is expected to witness the highest growth rate owing to the increased adoption of scent synthesizers and e-noses to detect cancer
Innovation of Digital Smell on Smart Phones
Smartphones are widely available with internet access, developers have been advancing the installation of Digital Scent Technology in-built in smartphones. Developers aim to provide long-distance conversations in a form of virtual reality. This will allow the users to experience a real sense of sight, voice as well as smell.
Restraint
High cost associated with the digital scent technology
The high cost of e-nose and delays between successive smell tastes are some factors that restrain the growth of the digital scent technology market considerably.
Global Digital scent technology Market: Key Players
Aromajoin Corporation
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Electronics Sensor Technology
ScentSational Technologies LLC
Smiths Detection Inc.
Scent Sciences Corporation
Airsense Analytics GmbH
Alpha MOS SA
The Enose Company
Scentcom Ltd.
AMS AG
Other Prominent Players
Global Digital scent technology Market: Regions
Global Digital scent technology Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. In North America Digital scent technology market is expected to see remarkable growth during the forecasted period. The factors underpinning growth in the North American digital scent technology market include increased acceptance of enhanced digital services, the usage of biosensors for early diagnosis, and consequential e-nose innovations in the healthcare and the military and defense sectors.
Impact of Covid-19 on Digital scent technology Market
Globally, Due to the COVID-19 pandemic, the manufacturing units of main players are highly hindered due to worldwide lockdown and insufficient availability of raw material and labor. Because of the pandemic, several scheduled product launches and related developments have been postponed.
Global Digital scent technology Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - the United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - Mexico, Argentina, Brazil and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
the Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - North Africa, Israel, GCC, South Africa and Rest of MENA
Global Digital scent technology Market report also contains analysis on:
Digital scent technology Market Segments:
By Hardware Device
E-nose
Scent Synthesizer
By Application
Food & Beverage
Military & Defense
Medical
Marketing
Environmental Monitoring
Entertainment
Others
By End-Use Product
Smartphones
Smelling Screens
Music and Video Games
Explosives Detectors
Quality Control Products
Medical Diagnostic Products
Others
Digital scent technology Market Dynamics
Digital scent technology Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Digital scent technology Market Report Scope and Segmentation
Report Attribute Details
The market size value in 2021 USD 534.3 million
The revenue forecast in 2031 USD 1424.4 million
Growth Rate CAGR of 10.3% from 2021 to 2031
The base year for estimation 2020
Quantitative units Revenue in USD million and CAGR from 2021 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Hardware Device, Application, End-Use Product, and Region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled Aromajoin Corporation, Electronics Sensor Technology, ScentSational Technologies LLC, Smiths Detection Inc., Scent Sciences Corporation, Airsense Analytics GmbH, Alpha MOS SA, The Enose Company, Scentcom Ltd., AMS AG, and Other Prominent Players.