The Global Digital Scent Technologies Market is projected to reach USD 4.04 billion in 2027. The key factors influencing the market include increasing demand for the electronic smell sensing technologies, growing emergence of the digital market strategies for the products that include flavor & fragrance, rising penetration for the e-commerce shopping, and higher proliferation for the telemedicine or online healthcare services, and non-invasive healthcare techniques. Inclusion of sense of smell is expected to create enormous possibilities of use cases in various end-use verticals especially, marketing, entertainment, and healthcare sectors.
Virtual reality & augmented reality are some area of high development which is expected to create a plethora of new use cases for digital sensing as the demand for the smell sensing technology apart from existing virtual & augmented audio visual is magnificently being heightened for a higher immersive experience.
The global market landscape of Digital Scent Technologies is expected to remain in a very competitive and quite consolidated landscape consisting of a number of both the small start-ups, medium and large players. During the projected era, increasing demand for technological development and higher diversification in offered products ensure enormous potential for innovative players.
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The growing proliferation of virtual reality, emergence of telemedicine coupled with higher proliferation of the e-commerce industry are the key factors driving global growth in the market.
Digital Scent Technologies Market Size – USD 536.1 million in 2019, Market Growth - CAGR of 28.6%, Market Trends – Growing prevalence of the digital scent technologies in digital marketing & entertainment sectors.
In January 2018, a team of researchers from Gandia campus of Valencia’s Polytechnic University and the La Fe Health Investigation Institute created a prototype of an electronic nose. The e-nose is capable of distinguishing patients having a Crohn’s disease and ulcerative colitis without an invasion.
Key players in the market include Scent Sciences Corporation, Electronics Sensor Technology, The eNose Company, ScentSational Technologies LLC, AIRSENSE Analytics GmbH, Scentcom Ltd., Smiths Detection Inc., and ams AG, among others.
Product Type Outlook (Revenue: USD Billion; 2017-2027)
Mobile Phone & Computer
Virtual Reality Devices
Medical Diagnostic Devices
Explosives Detector
Quality Control Product
Others
Application Outlook (Revenue: USD Billion; 2017-2027)
Marketing
Entertainment
Education
Healthcare
Communication
Others
Regional Analysis of the Digital Scent Technologies Market:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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COVID-19 Impact Analysis:
This report is the latest document encompassing the massive changes that took place in the Digital Scent Technologies market following the emergence of the COVID-19 pandemic. The pandemic has drastically affected the global economic landscape, thereby disrupting the operating mechanism of the Digital Scent Technologies market. The severe global crisis has prompted organizations to efficiently respond to the rapidly shifting business environment. Therefore, the report fully covers the profound impact of COVID-19 on this industry, with a special focus on the affected industry segments. However, the market is expected to regain momentum in the post-COVID-19 era. The report also offers an initial and future impact assessment of the pandemic on the Digital Scent Technologies industry. Hence, the vital COVID-19 insights offered by the report are expected to help organizations manage their businesses effectively in extreme economic uncertainties.
Competitive Terrain:
The Global Digital Scent Technologies Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length
Growing emergence of virtual reality and its applications in the entertainment sector and higher penetration for the highly immersed experience for gaming, videos, and movies are deliberately helping in the marker growth. Both the over the theatre and over the television cinema experience can be highly augmented incorporating the digital scent technologies.
The hardware sub-segment consists of E-Nose and Scent Synthesizer is still undergoing an enormous R&D phase and extensively being tried to accumulate many newer smell sensing sensors. Higher research & development and expensive sensor technologies make it the leading sub-segment.
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