Digital Scent Technology Market worth $1.5 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, May 5, 2021 /PRNewswire/ -- According to the new market research report "Digital Scent Technology Market with COVID-19 Impact Analysis, by Hardware Device (E-nose, Scent Synthesizer), End-use Product (Smartphone, Smelling Screen), Application (Medical, Entertainment, Food & Beverage), and Geography - Global Forecast to 2026", published by MarketsandMarkets™, the Digital Scent Technology Market is expected to grow from USD 1.0 billion in 2021 to USD 1.5 billion by 2026, at a CAGR of 9.2%. The market growth can be attributed to several factors, such as expanding application and advancements in e-nose technologies, increasing use of e-nose devices for disease diagnostic applications, and emerging R&D activities to invent e-nose to sniff out COVID-19, and rising use of e-nose in food industry for quality assurance in production, storage, and display.
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Smart phones segment to grow with the highest CAGR during the forecast period
On the basis of end-use product, the market is categorized into smartphones, smelling screens music and video games, explosives detectors, quality control products, medical diagnostic products, and others. The usage of digital scent technology products in food & beverages, medical, and marketing applications has boosted the smartphones segment. A sensor or e-nose can help detect scents through a smartphone app, to help users choose products. A team of scientists from Nanyang Technological University (Singapore), in collaboration with scientists from Jiangnan University (China) and Monash University (Australia), developed an e-nose that scans the barcode on fish, chicken, and beef. To make it a portable process, the team developed a smartphone app that can yield results in about 30 seconds and has 98.5% accuracy.
Medical application to hold the largest share of the market during forecast period
On the basis of applications, the market is categorized into food & beverage, military & defense, medical, marketing, environmental monitoring, entertainment, and others. E-nose is widely used in the healthcare segment due to an increasing demand for cost-effective, accurate, and non-invasive methods of diagnosis. The medical segment accounted for the largest market share in 2020 due to the increased adoption of digital scent technology in medical diagnosis, patient treatment selection, and metabolic disorders nutritional status. This application constitutes of the maximum developments and innovations of digital scent technology products by mostly start-ups and a few major companies.
Browse in-depth TOC on "Digital Scent Technology Market"
132 – Tables
58 – Figures
189 – Pages
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North America is leading the digital scent technology market in 2020
North America held the largest share in the digital scent technology market in 2020. North America is expected to continue to dominate the digital scent technology market during the forecast period due to the presence of various key players in the region. The major factors which are fueling the growth of the market are rising adoption of enhanced digital services by customers, use of biosensors for early detection of diseases, strict regulatory environment with regards to indoor air quality in the US, and significant e-nose developments with respect to applications in the medical and agriculture industries.
Some of the key companies operating in the market are ams AG (Austria), Smiths Detection (US), Alpha MOS SA (France), AIRSENSE Analytics GmbH (Germany), ScentSational Technologies (US), Electronic Sensor Technology (US), Aromajoin Corporation (Japan), Scent Sciences Corporation (US), The eNose Company (The Netherlands), Odotech Inc. (Canada), and so on.
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