SAN FRANCISCO, Feb. 19, 2020 /PRNewswire/ -- The Digital Scent Technology Market is expected to achieve USD 156 million by 2022 on account of rising use of smart devices across the globe. An online communication device acts like a human nose. It allows transmission of fragrances using internet E-nose and olfactometers. Thus it allows a user to whiff the product before purchasing it. This, in turn, will propel product demand in the forecast period.
Restraints and Opportunities
Factors such as postponements between consecutive smell tastes and the high price of product will hamper overall industry growth in the forecast period. For instance, this technology used in clinical diagnosis and defense is relatively costly, thus will hamper the development of industry. Extensive use of this scent technology in security and defense sector will create new growth opportunities for product development in the forecast period.
The recent trend in digital scent technology industry is rising use of virtual reality that advances the features of processers by introducing notions like Digi smell. This, in turn, will escalate market growth in the forecast period.
Digital scent technology industry is categorized based on product, applications, and regions.
Based on product type, the digital scent technology industry is categorized based on electronic nose (E-nose) and scent synthesizer. E-nose segment is anticipated to account for the largest revenue share and continue its dominance over the forecast period. A device that detects flavors or odors and is exclusively used to fulfill industrial needs. Thus, its rising demand from the alimental sector to differentiate food and drinks as per their level of deliciousness will escalate product demand in the forecast period. Furthermore, its rising demand from healthcare and defense sectors will show a positive impact on overall segment growth in the forecast period.
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Scent Synthesizer segment is anticipated to witness the fastest growth in the forecast period. A computer-based device is connected to a serial port or USB port by which scent is released when a buyer opens an email account or visits the related site. For instance, DigiScents Inc. a California-based company developed iSmell personal scent synthesizer, which is similar to that of a shark's fin to release several scents. It has its driver and can be linked through an individual computer via a serial port.
Based on the applications, the digital scent technology industry is categorized based on communication, entertainment, food & beverage, education, and healthcare. Healthcare segment is expected to remain dominant over the forecast period owing to rising awareness among healthcare professionals regarding early detection of disease using digital technology. Further, the segment was followed by food & beverage. Food and beverage segment is estimated to witness a significant growth rate over the forecast period owing to its rising use to maintain the quality of food products.
Geographically, the digital scent technology market is categorized based on Middle East and Africa, Asia Pacific, South America, North America, and Europe. Globally, North America is anticipated to remain dominant over the forecast period. The high growth is attributable to the existence of major manufacturers such as Scent Sciences Corporation, Electronics Sensor Technology, Smiths Detection Inc., and ScentSational Technologies LLC in the region. Canada and the U.S are the major consumers in this region on account of rising use of enhanced technologies like artificial intelligence (AI) in the region. Europe and Asia Pacific followed the region.
Europe is expected to remain the second largest region with significant revenue share in the forecast period owing to rising acceptance of smart grid deployment. Asia Pacific is projected to witness the fastest growth rate on account of rapid urbanization, rise in R&D activities to develop novel product portfolio, and expanding digital sector across the globe. Emerging countries like India, Indonesia, and Malaysia are the major consumers in this region owing to rising adoption of enhanced digital technology.
Prominent players of digital scent technology market include The eNose Company, Alpha MOS, Sensigent, AIRSENSE Analytics, G.A.S., Odotech, Owlstone, and Electronics Sensor Technology. These players are accepting several strategies including agreement, novel product development, investment in R&D activities, collaborations, and mergers & acquisitions to boost overall industry revenue.
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In this report, global Digital Scent Technology Market will reach 156 Million USD by the end of 2022 with a CAGR of 18.15%
The global Digital Scent Technology market is valued at 67.77 Million USD in 2017 and will reach 156 Million USD by the end of 2022, growing at a CAGR of 18.15% during 2017-2022.
Digital scent technology is the engineering discipline dealing with olfactory representation. It is a technology to sense, transmit and receive scent-enabled digital media. For example, the addition of such equipment in the cinema for example, the device lets viewers watch a movie and feel the "flavor", brings a richer viewing experience.
Digital Scent Technology can be divided into two categories-E-nose type and Scent synthesizer type. E-nose type sales market share accounted for the highest proportion, with a figure of 78.65% in 2017, Scent synthesizer type account for 21.35%.
The sales market share of global Digital Scent Technology in Food & Beverage use, Entertainment use, Healthcare use and other applications have been stable year by year, at 12.81%, 46.76%, 28.19% and 12.25% respectively in 2017, and for several consecutive years, the amplitude was within 2 percent. This indicates that the segment of the Digital Scent Technology in the global market tends to be fixed without great changes. Among them, the Digital Scent Technology market has the most promising sales prospects in Entertainment use.
Research center data shows that North America is the biggest contributor to the Digital Scent Technology revenue market, accounted for 47.85% of the total global market with a revenue of 32.43 million USD in 2017, followed by Europe, 32.55% with a revenue of 22.06 million USD.
Alpha MOS is the largest company in the global Digital Scent Technology market, accounted for 32.12% of the revenue market share in 2017, followed by AIRSENSE Analytics and Odotech, accounted for 17.37% and 8.01% of the revenue market share in 2017. There are few enterprises in the market of digital scent technology are very big currently, as the market scale of digital scent technology is limited at the current moments. But it is forecasted that there will be giant enterprise in the market as the market of digital scent technology will grow at a fast speed.
- Geographically, this report is segmented into several key Regions, with production, consumption, revenue (M USD), market share and growth rate of Digital Scent Technology in these regions, from 2014 to 2026 (forecast), covering
- Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
- North America (United States, Canada and Mexico)
- Europe (Germany, France, UK, Russia and Italy)
- South America (Brazil, Argentina, Columbia)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
- Global Digital Scent Technology market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
- Alpha MOS
- AIRSENSE Analytics
- Electronics Sensor Technology
- The eNose Company
- On the basis of product, this report displays the production, revenue, price, and market share and growth rate of each type, primarily split into
- Scent synthesizer
- On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Digital Scent Technology for each application, including
- Food & Beverage
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