Digital Scent Technology Market 2020 Global Industry Analysis by Size, Share, Growth, Segmentation, Opportunity Assessment, Development Status and Regional Forecast 2023

Digital Scent Technology Market 2020 Global Industry Analysis by Size, Share, Growth, Segmentation, Opportunity Assessment, Development Status and Regional Forecast 2023

“Market Research Future”
Market Research Future published a research report on “Digital Scent Technology Market Research Report- Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Overview

Digital scent technology is a part of the digital sense technology which uses technology to transmit and receive scent-enabled digital media. Digital scent technology is essentially a mix of hardware and software. Market Research Future (MRFR) has published an exhaustive report on the global digital scent technology. The report contains an in-depth analysis of pertinent trends and factors which are backed by historical data as well as forecasts for the period of 2017-2023. MRFR has projected the Digital Scent Technology Market to reach USD 2080 Mn at a CAGR of 30% by 2023.

Digital scent technology is being increasingly used for e-nose application in the security and military sectors, which is a key factor substantiating the growth of the market. Digital scent technology is finding expensive application in quality control of raw materials where it helps in the reduction of food wastage. The retail industry is increasingly looking forward to incorporating digital scent technology into their offerings to reap the benefits of scent on consumer buying, which is likely to provide opportunities to the market in the coming years.

Digital scent technology has attracted the attention of various scholars, and aggressive R&D activities have begun in the digital scent technology space. Leading market players who have deep pockets are investing heavily on the advancement of the technology. Other factors spurring the growth of the market include progress made in the field of virtual reality and augmented reality. However, the growth of the market might be hindered by a lack of awareness regarding the technology.

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The global Digital Scent Technology Market has been segmented based on product, hardware, and end user. By product, the market has been segmented into smelling screen, music, and video game, mobile phone, quality control product, medical diagnostic product, explosives detector,  and others. The quality control segment is expected to grow considerably over the forecast period owing to the inflated demand for e-nose based quality assessment techniques for raw materials. By hardware, the market has been segmented into E-nose and scent synthesizer. The E-nose segment has been further segmented into piezoelectric sensor, polymer sensor, optical fiber sensor, and metal oxide semiconductor field effect transistor sensor. The scent synthesizer segment is further segmented into cartridge. By end user, the market has been segmented into marketing, food & beverage, entertainment, education, healthcare, communication, military & defense, and others.

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).

Regional Analysis

The global digital scent technology market spans across the regions of Asia Pacific, North America, Europe, and the Rest of the World. North America represents the largest market for digital scent technology due to the presence of major players in the region and high adoption of digital scent technology in the region. The region has a well-developed infrastructure which permits faster adoption and implementation of newer technologies. Moreover, the US incurs a very high expenditure on its defense sector which supports the growth of the market in the region. Europe market is also projected to be a profitable one due to the presence of key players in the region coupled with government support for R&D in the region. Asia Pacific is expected to be the fastest growing market for digital scent technology due to high military spending and healthcare expenditure in the region. The other markets are expected to exhibit steady growth over the forecast period.

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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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