According to a new market research report "Digital Scent Technology Market by Hardware devices (E-nose & Scent synthesizer), End-user (Marketing, Food & beverage, Entertainment, Education, Healthcare, Communication & Military & defense), End-product, & Geography - Forecast to 2020", the total digital scent technology market was valued at $156 million in 2014 and is expected to reach $691 Million by 2020, at a CAGR of 30.4% between 2015 and 2020.
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The Digital Scent technology comprises end-products such as mobile phone, smelling screen, music & video game, explosives detector, quality control product, and medical diagnostics product among others. Medical diagnostic products accounted for the largest market share in 2014 due to the increased awareness regarding early detection of diseases by these products. These products are widely used in the healthcare sector. The market for explosive detectors is expected to register the highest growth rate between 2015 and 2020. Explosive detectors are widely used in the military & defense, and security applications. Quality control products are used by the food & beverage industry for assessment of raw materials.
The report covers the digital scent technology market; it includes hardware devices such as e-nose and scent synthesizer. The end-user has been segmented into marketing, food & beverage, entertainment, education, healthcare, communication, military & defense, and others. Others include security, transportation, and agriculture. The market for military & defense is expected to register the highest growth rate during the forecast period. Healthcare accounted for the largest market share in 2014 due to an increased adoption of e-noses in the diagnosis of diseases.
The report describes the market trends, drivers, restraints, challenges, and opportunities with respect to the Digital Scent Technology market along with the market size forecast till 2020. This global report provides a detailed view of the market across the four regions, namely- North America, Europe, Asia-Pacific, and RoW. North America and Europe are the largest regions in terms of the market size. Europe and APAC have been identified as fastest growing regions. The report also profiles the most promising players in the digital scent technology market.
The competitive landscape of the digital scent technology market presents a very interesting picture, where a large number of players have become a force to reckon with. The market has been witnessing numerous new product launches by major players.
Major players in the digital scent technology market include Smiths Detection Inc. (U.S.), Scent Sciences Corporation (U.S.), ams AG (Austria), Alpha MOS SA (France), Electronics Sensor Technology (U.S.), ScentSational Technologies LLC (U.S.), Scentcom Ltd. (Israel), AIRSENSE Analytics GmbH (Germany), and The eNose Company (Netherlands).
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