The “Digital Scent Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Digital Scent Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global digital scent market size was US$ 18.1 million in 2021. The global digital scent market is forecast to grow to US$ 41.1 million by 2030 by registering a compound annual growth rate (CAGR) of 10.5% during the forecast period from 2022 to 2030.
Digital scent technology is highly used to sense, receive and share scent-empowered digital media, including video games, webpages, etc.
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Factors Influencing the Market
Digital scent technology finds its wide applications in various verticals, such as military and defense, healthcare, food and beverage, waste management, etc. Thus, the growth of these industries will drive the digital scent market forward.
Digital scent technology is forecast to observe exponential development due to growing spending in the military and defense sector. Furthermore, digital scent technology plays a prominent role in performing decision-making related to national security that involves geography. Thus, such essential applications of digital scent technology are forecast to offer ample growth opportunities for the market during the study period.
The high initial cost associated with devices may limit the growth of the global digital scent market.
The growing number of launches, partnerships, and other strategies, aiming to expand product portfolio is forecast to benefit the global digital scent market. For instance, Plasmion GMBH company launched a new App-note for direct SPME-MS analysis of environmental trace contaminants with SICRIT in 2019. Furthermore, Apple registered two patents to add the e-nose technology into its smartwatches in April 2019. Thus, such advancements will contribute to the growth of the global digital scent market.
Market Overview
The comprehensive analyses of the most recent trends, growth prospects, and market growth drivers are offered to readers of the global market research reports. The COVID-19 effects on the Digital Scent market are also discussed in detail in the research, along with the market’s predicted compound annual growth rate (CAGR) from 2022 to 2030.
The research also provides a market analysis using various analytical techniques, including Porter’s Five Forces Analysis and PESTEL Analysis. These tools provide an in-depth analysis of the micro- and macro-environmental elements that influence the market’s expansion during the forecast period.
COVID-19 Impact Analysis
Due to the wake of the COVID-19 pandemic, the manufacturing units had no choice left other than to shut the doors for a short time. Almost every industrial vertical witnessed a shortage of workforce. In addition, the international trade restriction and insufficient supply of raw materials further hampered the growth of the digital scent market.
Regional Analysis
North America is forecast to dominate the global digital scent industry due to the developed infrastructure of the region. In addition, the availability of resources and rapidly growing defense, healthcare, entertainment, and food and beverages industry will contribute to the growth of the digital scent market. Europe is forecast to hold the second-largest share due to the stringent regulations and significant fines by the governments. EU has announced the D-NOSES project undertaken in nearly ten European and non-European countries. The project aims to begin a collaborative journey in tackling odor problems. Such advancements are likely to benefit the global digital scent market during the study period.
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Competitors in the Market
Alpha MOS SA
Electronic Sensor Technology Inc.
Plasmion GmbH, Odotech Inc.
The eNose Company
AIRSENSE Analytics GmbH
Aryballe Technologies SA
Common Invent BV
Sensigent LLC
Stratuscent Inc.
Other Prominent Players
Market Segmentation
The global digital scent market segmentation focuses on Hardware, End-User, and Region.
By Hardware Outlook
Scent Synthesizer
E-nose
By End-Users Outlook
Military and Defense
Healthcare
Food and Beverage
Waste Management
Other End-user Verticals
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By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What are the key findings of the report?
?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.
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