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Digital Scent Technology Market Size

Report ID: GMI7763
Published Date: Jan 2024
Report Format: PDF

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Digital Scent Technology Market Size

Digital Scent Technology Market size was valued at USD 1.13 billion in 2023 and is estimated to register a CAGR of over 9% between 2024 and 2032, owing to the continuous technological advancements. AI-driven innovations are enhancing the capabilities of scent technology for enabling more sophisticated and immersive experiences in various applications. With several industries recognizing the potential of AI-powered digital scent solutions, the integration of AI is improving the precision and versatility of scent technology, further opening new possibilities for the market growth.

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Several manufacturers are also embracing AI software and increasing their market presence by launching new updates. For instance, in 2023, Moodify introduced Moodify (Re) formulation, an AI-driven software for efficient fragrance reformulation. This technology allows the automatic replacement of scent components, presenting various alternatives based on similarity to the original molecule.

Digital Scent Technology Market Report Attributes
Report Attribute	Details
Base Year:	2023
Digital Scent Technology Market Size in 2023:	USD 1.13 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	9%
2032 Value Projection:	USD 2.4 Billion
Historical Data for:	2018 - 2023
No. of Pages:	300
Tables, Charts & Figures:	290
Segments covered:	Hardware, Application, and End-User Industry
Growth Drivers:	The growing popularity of virtual reality (VR) and augmented reality (AR) applications Rising demand for aromatherapy devices Growing focus on game developers on enhancing user experience The integration of digital scent technology into smart home devices
Pitfalls & Challenges:	Standardization and compatibility Side effects caused by chemicals associated with scent/fragrance

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The digital scent technology market is experiencing substantial growth with the increasing digitalization and frequent product launches. As industries embrace digital transformations, scent technology has become integral to immersive experiences. Continuous advancements in scent delivery systems and applications coupled with the growing emphasis on enhancing user experiences will also aid in sustained market size. For instance, in 2021, Brazilian scent tech startup Noar introduced MultiScent20, its digital scent diffusion device developed in collaboration with Orlandi for allowing users to control perfume experiences via mobile devices through a range of digital scent products.

While the market is experiencing rapid growth, privacy and data security concerns inherent in the digital scent experience need thoughtful addressing, leading to the importance of robust cybersecurity measures and innovative solutions to safeguard user information. Additionally, the high costs related to sophisticated scent delivery systems may also hinder the industry expansion.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of digital scent technology reached USD 1.13 billion in 2023 and is set to observe 9% CAGR between 2024 and 2032, owing to the continuous technological advancements.

The E-nose segment held a market share of over 60% in 2023, driven by rising adoption to potentially detect illnesses like cancer, diabetes, and infections based on specific scent markers.

North America market share was around 38% in 2023, attributed to the rapid expansion of the healthcare, marketing, food & beverage as well as safety and security sectors.

Airsense Analytics GmbH, Alpha MOS SA, Aromajoin Corporation, Aryballe Technologies SA, Electronic Sensor Technology, Envirosuite, Givaudan SA, ScentSational Technologies LLC., Smiths Detection Group Ltd., Teledyne FLIR LLC, and The eNose Company.