Market Overview
The global digital scent technology market has been evaluated as a rapidly growing market and is expected to grow at a robust CAGR of 30% over the forecast period of 2017-2023, reveals Market Research Future (MRFR) in an exhaustive research report. Digital scents have been on the rise lately and finding application in various industry verticals especially the healthcare and the military & defense. It is used for detecting explosives and other intentionally harmful substances. Digital scents find application in the Food & beverage industry as well. It is used for quality evaluation of raw materials. The healthcare sector too employs digital scents for clinical diagnosis. Recent advancements in design and system integration also provide an impetus to the growth of the market. Other than these significant applications, the digital scent technology also finds application in the education sector and filmmaking to make objects more life-like. However, initial high cost of implementation and lack of awareness regarding the technology are likely to be a possible bottleneck for the market growth. Other restraining factors include health dangers of synthetic odors. These factors, in conjunction, will help the global digital scent technology market attain a valuation of USD 1080 Million by the end of 2023.
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Key Players:
Some of the prominent players in the global digital scent technology market are Smiths Detection Inc. (U.S.), Scent Sciences Corporation (U.S.), ams AG (Austria), Alpha MOS SA (France), Electronics Sensor Technology (U.S.), ScentSational Technologies LLC (U.S.), Scentcom Ltd. (Israel), AIRSENSE Analytics GmbH (Germany), Vapor Communications (U.S.), and The eNose Company (the Netherlands).
Segmentation
MRFR’s analysis of the global Digital Scent Technology Market has been performed by segmenting the market on the basis of product, hardware, end-user, and region. Products in the market include mobile phone, music & video games, explosives detector, medical diagnostics, quality control, and others.
Hardware has been segmented into scent synthesizers and e-nose. The e-nose segment has been further segmented into polymer sensors, metal oxide semiconductor field effect transistor (MOSFET), optical fiber sensor, and piezoelectric sensor. The scent synthesizer segment has been further divided to include cartridge.
End-users of digital scent technology have been segmented into entertainment, food & beverage, communications, education, healthcare, military & defense, and others.
Regional Analysis
The report covers Europe, North America, Asia Pacific, and the Rest of the World. Among these key regions, the North American market was found to be the leader in terms of market size, while the Asia Pacific is slated to grow at the highest CAGR during the forecast period. North America’s market position is primarily due to the presence of a number of market-leading players operating in the region. Moreover, developed economies of the North American market display a high affinity toward the adoption of advanced technology in various applications. The Asia Pacific owes its rapid ascent to the presence of various rapidly developing economies where consumers have increasing disposable incomes and are highly receptive of innovative technology. Other regions are also expected to witness opportunities and growth as the market advances.
Industry Updates
July 2019 – Aryballe Technologies, developer and manufacturer of bio-inspired sensors enabling groundbreaking applications in digital olfaction, announced that it has secured €6.2 Million in funding to accelerate innovation and commercialization of its technology. The two new investors include IFF, a global leader in taste, scent, and nutrition & ingredients, and Hyundai Motor Company. The funding would be utilized for the advancement its technology and market its solutions to the automotive, food & beverage, consumer appliances, and flavor and fragrance industries.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
Continued…
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