Digital Scent Technology Market size was over USD 1.11 billion in 2023 and is projected to exceed USD 3.74 billion by 2036, witnessing over 9.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of digital scent technology is evaluated at USD 1.2 billion. The growth of the market can be attributed to the increasing advancement in technology, especially the development in the virtual reality technology. Digital scent technology lets one smell the product remotely, which is prominently applied in online shopping. The user can smell products, such as, fertilizers, disinfectants, animal & insect repellents, perfumes and colognes, and chemicals amongst others, using technically advanced products, such as e-nose and smelling screens. Increasing trend for online shopping and delivery system is estimated to boost the market growth. Furthermore, there have been various incidences of product leak or machinery failure at warehouses, leaving workers and delivery executives in a sensitive position. The digital scent technology can help avoid such tragedy, which is estimated to increase its adoption by major manufacturing companies.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
9.8% |
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Base Year Market Size (2023) |
USD 1.11 billion |
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Forecast Year Market Size (2036) |
USD 3.74 billion |
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Regional Scope |
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The market is segmented by end-user into healthcare, food & beverage, manufacturing, and others, out of which, the manufacturing segment is anticipated to hold the notable share in the global digital scent technology market on account of increasing cases of gas leaks or product mis happening in warehouses, coupled with rising acceptance of distant shopping. The healthcare segment is also anticipated to hold a notable share over the forecast period, owing to the increasing technological innovation in the field of medicine.
Our in-depth analysis of the global market includes the following segments
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By Product
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By End-User |
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North America Market Analysis
On the basis of geographical analysis, the global market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America is anticipated to hold largest revenue share by 2036, on the back of presence of various key players in the region, along with use of various technology, such as, biosensors, artificial intelligence, and virtual reality. Moreover, this technology is being widely implemented for military applications, which is further projected to drive the market growth.
APAC Market Statistics
The market in the Asia Pacific region is estimated to grow at the highest CAGR over the forecast period, on account of rapid digitalization of the market, changing consumer behavior, and rising adoption of technology in countries, such as, Japan, and Singapore.
June 2021: China Petroleum and Chemicals to place order for multiple z-nose from Electronic Sensor Technology. zNose is used for monitoring and analyzing contaminated water in water bodies.
Author Credits: Abhishek Verma
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