Digital scent technology also known as olfactory technology is a section of engineering that aims to represent different scents in digital format, thus enhancing the experiences of its users while consuming digital media like motion pictures, video games, virtual reality, extended reality, web pages, and music. Olfactometers and electronic noses are the devices used in the detection and measurement of smells.
According to the research report, ‘Digital Scent Technology Market: Current Analysis and Forecast (2021-2027)’, states that Electronics Sensor Technology Inc., ScentSational Technologies LLC, Smiths Detection Group Ltd., Odotech Inc., AIRSENSE Analytics GmbH, The eNose Company, Scentcom Ltd., AMS AG, Stratuscent Inc., and AerNos Inc. are some of the prominent players in the global Digital Scent Technology industry. The report puts forward a methodical analysis of the aforementioned companies done on the basis of certain predetermined criteria such as the performance of the company, sales, price and gross margins, risk analysis, collaborative business strategy, recent development, regional presence, acquisitions, product and services offered by these companies, SWOT analysis, and many more, through which the companies survive and compete against one another. The report further involves company profiling of each player and also evaluates how far along the player stands in the competition.
The Global Digital Scent Technology industry is fragmented into different segments which are discussed below:
On the basis of hardware, the market is split into – e-nose and scent synthesizers. The e-nose segment dominates the market and this trend is expected to be seen during the review period as it is the most favored hardware across several industries like military & defense, healthcare, and food & beverages.
On the basis of application, the industry is divided into – medical, entertainment, food & beverage, and others. The medical segment holds the highest share globally and is anticipated to prosper at the same rate during the forecast period. This segment offers diverse areas of applications such as medical diagnosis, patient treatment selection, metabolic disorders nutritional status, and other applications.
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Further, the report contains an assessment of the market type by region concentrating on its sales, sales volume & revenue forecast. The regions covered during the research are – North America (US, Canada, and the Rest of North America), Europe (Germany, France, Spain, the UK, and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea Rest of APAC), Rest of the World. Based on this, the report identifies North America as the leading player in the global digital scent technology market due to the presence of several chief players in the region, along with the rising interest of consumers in adopting the services.
In addition to that, a comprehensive study of the market is made taking into consideration a variety of factors, such as demographic conditions, business cycles in a particular country, market-specific microeconomic impacts, and many more. It also analyses the research methodology and assumptions through various functional and analytical methods. The report also discusses several growth drivers, challenges, and restraints of the market.
In the upcoming years, the Global Digital Scent Technology industry will continue to thrive and is anticipated to reach a value in terms of revenue of USD million by the end of 2027 with a double-digit CAGR during the review period of 2021-2027. Growing awareness of odor pollution and increasing applications of e-noses are some of the key factors driving the industry.
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Ankur Gupta, Head Marketing & Communications