Digital Scent Technology Market Size to Grow USD 354.7 Million by 2029 with a CAGR of 14.9% | Valuates Reports

BANGALORE, India, Aug. 4, 2023 /PRNewswire/ -- The Global Scent Technology Market is Segmented by Type (E-nose, Scent Synthesizer), by Application (Entertainment, Education, Food & Beverage, Healthcare, Communication): Global Opportunity Analysis and Industry Forecast 2023 - 2029.

Due to the COVID-19 pandemic, the global Digital Scent Technology market size is estimated to be worth USD 132.7 million in 2022 and is forecast to a readjusted size of USD 354.7 million by 2029 with a CAGR of 14.9% during the forecast period 2023-2029.

Major Factors Driving the Growth of the Digital Scent Technology Market

More and more industries, including entertainment, gaming, marketing, and virtual reality, require more advanced sensory experiences. The incorporation of olfactory sensations into these experiences is made possible by digital scent technology, making the environment more realistic and immersive. This factor is expected to drive the growth of the Digital Scent Technology market

The medical industry is currently exploring the potential of digital scent technology for therapeutic applications, such as treating specific mental illnesses and enhancing memory. Therefore, the need for sensory enhancement, immersive experiences, and creative applications across various industries is driving the growth of the global digital scent technology market.

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TRENDS INFLUENCING THE GROWTH OF DIGITAL SCENT TECHNOLOGY MARKET:

e-nose technology development and expanded applications: Numerous more advantages, including anomaly detection and pattern identification, are driving up demand for e-nose. The e-nose can identify odor nuisance risks or other gas-related dangers by detecting changes in the composition of the air. The e-nose will inform users of unusual air conditions by adding alarm levels. Signal patterns produced by e-noses are related to the exposed gas composition. It makes an attempt to determine the type of gas composition that resulted in an odd air composition. Additionally, the use of small, transportable, and Internet of Things-enabled e-noses and platforms has increased recently.  This factor is expected to drive the growth of the digital scent technology market.

The use of fragrance in various gaming contexts can improve a game's narrative capabilities. With the use of digital smell technology, players may sense the scent of the forest, the burning wood in the fireplace of the mansion, or the garden's flowers. varied gaming areas have varied backdrops. The game experience gains a completely new dimension as a result, making it more interesting and fun. New games with a scent-focused theme may now be made thanks to digital smell technology. This factor is expected to drive the growth of the digital scent technology market.

Smell has been shown to help people remember things better and improve their memory. When learning materials are combined with digital scent technology, teachers can offer students a multimodal experience that can enhance their information retention. Second, greater participation. This factor is expected to drive the growth of the digital scent technology market.

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DIGITAL SCENT TECHNOLOGY MARKET SHARE

Alpha MOS, AIRSENSE Analytics, Odotech, Electronics Sensor Technology, and Owlstone are the top 5 producers of digital scent technology, together holding roughly 72% of the market.

In 2020, the market for digital smell technology was dominated by North America. Due to the presence of many important players in the area, North America is anticipated to continue to dominate the market over the projection period. The market is being driven by a number of key factors, including increased customer adoption of enhanced digital services, the use of biosensors for disease early detection, strict US regulations governing indoor air quality, and significant advancements in e-nose technology with regard to applications in the agricultural and medical sectors.

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Key Companies:

• Alpha MOS
• AIRSENSE Analytics
• Odotech
• Electronics Sensor Technology
• Owlstone
• Sensigent
• The eNose Company

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SIMILAR REPORTS

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