The Extension Of Digital Scent Market Is Enhanced By Evolution In Virtual Reality

The digital scent technology market is anticipated to witness a CAGR of 18.53% in the forecast period. The hardware technology uses scent synthesizer and e-noise to receive, sense, and transmit various kinds of smells. For instance, it will play a major role in Cinema Theater, as technology will allow viewers to watch a movie and feel the flavor of product. Thus, it will help bring a richer viewing experience, this, in turn, will boost market growth in the forecast period.

Restraints, Challenge, and Opportunities

Factors such as high investment and product cost and availability of substitutes will hamper product demand in the forecast period. In addition, volatility of airflow is anticipated to restrain the transmission of digitalized scent, and thus limits its usage. Fluctuation of chemicals may harm human health and this is a major challenge for key players in the industry. Rising use of this advanced digital technology in food & beverage, defense & security, and healthcare sector will create novel growth opportunities in the industry in the coming years.

Trends

The use of virtual reality will help to boost digital industry by introducing novel concepts like Digi smell that is a combination of software and hardware. Thus, this trend is expected to show a positive impact on overall industry development. The software produces specific signals for specific smell whereas hardware generates the smell. Thus, virtual reality will allow users to modify and generate their own fragrances. This, in turn, will propel product demand in the forecast period.

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Digital scent technology industry is categorized based on products, applications, and regions. Based on product type, the industry is categorized based on electronic nose (E-nose) and scent synthesizer. Based on the applications, the industry is categorized based on communication, entertainment, food & beverage, education, and healthcare. Geographically, the industry is categorized based on Middle East and Africa, Asia Pacific, South America, North America, and Europe.

Based on application, healthcare sector will remain dominant over the forecast period owing to its rising use in aromatherapy to cure specific brain disorders by using different sorts of smells.

In the entertainment segment, this enhanced device helps to make music or movie realistic. Whereas, in the defense sector the technology is exclusively used for sensing explosives. However, healthcare segment is expected to hold significant revenue share on account of its rising use to sense disease. Whereas, food and beverage segment is estimated to witness the fastest growth rate over the forecast period owing to rising demand from manufacturers to maintain the quality of products using real-time sensing devices and for estimation of raw materials.

Competitive Players

Prominent players of digital scent technology market include The eNose Company, Alpha MOS, Sensigent, AIRSENSE Analytics, G.A.S., Odotech, Owlstone, and Electronics Sensor Technology. For instance, Alpha MOS is expected to remain dominant over the forecast period as it accounted for over 32.12% of the total revenue share in 2017.