Electronic Nose Market REPORT OVERVIEW
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The global electronic nose market size was USD 47 million in 2021 and market is projected to touch USD 109.47 million by 2031, exhibiting a CAGR of 8.8% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with electronic nose market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
A device known as an "electronic nose" is used to detect odor and scent in its environment. These devices, which are used for comparison, identification, and quantification, are made up of many kinds of electronic sensors. Businesses test the smells and scents of products while they are being produced, as well as their levels of freshness and damage, using gas chromatographs and human specialists.
In the food and beverage business, this device is used for process monitoring, freshness assessment, shelf-life study, and authenticity assessment. The technique is expected to find several applications in the sector due to the wide variety of odor-based metrics used to assess quality, freshness, components, maturity, etc. Industries generate their components in mass, making it illogical to logically verify the quality, cleanliness, and freshness of each individual product. It does not appear to be a practical answer to hire a human to examine every product's quality and cleanliness because doing so would increase the company's budget costs.
COVID-19 Impact: Industry Imbalance Causes Market Distortion
The COVID-19 epidemic caused problems for services companies like volatile markets, a drop in customer confidence, and difficulties with import and export transactions. Markets were shut down and people stayed at home due to the lockdown. Supply chain breaches, stock market inefficiencies and vendor instability are the results of this advance. The halt on machinery industry affected the whole market. Due to shutdown of markets, there was no need of the product which resulted in the downfall of electronic nose. The pandemic impacted the industry dynamics, forcing organizations to revamp their entire operation structures to maintain stability amid the disruptions the financial imbalance that occurs due to shutdown of various stores & large sectors was the main reason that distorted the whole market. Aside from that, the companies' business operations have been affected by the outbreak, which has an effect on the overall machinery industry. This has partially impacted the electronic nose market.
LATEST TRENDS
"Adoption of Product in Food Industry to Boost the Market Growth"
The use of electronic noses in quality assurance and control is widespread. As a result, the major trend driving the market's expansion is the rising customer demand for high-quality goods. In addition, the extensive use of this devices for quality assurance, process monitoring, shelf-life analysis, freshness evaluation, and authenticity assessment in the food business is driving up product demand. Furthermore, governments in various nations are enacting strict legislation to promote the use of preventative measures to guarantee a secure working environment in an industrial setting. Along with this, rising worker safety concerns are hastening the deployment of cutting-edge technologies like electronic noses, which replicate human senses. Thus, adoption of device in food industry is a main trend which is creating opportunities for the market to boost. The market's total expansion is primarily due to all these new developments.
Electronic Nose Market SEGMENTATION
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- By Types
Based on type, the market is classified into MOS, CP & Others.
- By Application
Based on the market is categorized into Scientific Research Institute, Government Organs & Commercial Organization.
DRIVING FACTORS
"Advanced Technology that Gives the Market Extra Boost "
A small sensor system might operate using artificial intelligence as a result of technological improvement, which would open up more promising possibilities. Furthermore, programmers don't even need to generate unique designs for each device they make thanks to the generic system. The generic devices can be further modified to meet the needs and specifications of users. The electronic technology developments will expand global growth opportunities while taking up less time than conventional approaches. Small electronic nose chips now have more functionality thanks to such technical advancements, like handling humidity correction, regulating long-term sensor-shift, and a special sensor that can identify the distinctive gas-mixture fingerprint of an odor. As a result, the growth, and advancement of technology to boost the market will contribute to the expansion of the machinery and equipment industry and it will improve the overall electronic nose market growth.
"Companies Launching New Products to Encourage Market Expansion"
Ford, Apple, Amazon, Haier, and other businesses have made significant investments in the study and development of this technology. These businesses have also applied for patents, and they plan to introduce their products soon. To include e-nose technology into its apple watches, Apple has submitted two patent applications. According to the patent, the business is developing chemical smell sensors that have a variety of potential applications in the healthcare industry. Additionally, according to one patent, the sensor may be able to determine blood sugar levels by examining perspiration vapor in the air. The technology has also been developed by Haier. In the crisper drawer of the refrigerator, the company intends to use an olfactory sensor, also known as an electronic nose. The market is expanding thanks to the new products launched. As a result, during the projected period, the market for machinery and equipment is anticipated to rise rapidly. The characteristics of this product are what are causing the market to grow.
RESTRAINING FACTORS
"High Initial Cost of Product to Impede Market Expansion"
Artificial intelligence and neuromorphic technologies are being more widely used in the electronic nose business. Manufacturers sell a certain number of these electronic nasal devices, depending on the technology employed or the device's technological foundation, the device's application requirements, and the cost per unit. The employment of injection techniques has an impact on the device's initial cost, and the machines' several sensors increase the amount spent on it. If this problem is fixed, the market will start to grow right away.
Electronic Nose Market REGIONAL INSIGHTS
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"North America Dominating the Market Across the Globe"
The market for electronic nose in North America has benefited from the region's expanding industrial development, and various driving factors which has increased the potential sectors as this region is the largest user of the product. The key factor driving the growth of the electronic nose market share is the advance technology of the product and it's uses in various sector is one of the major reasons to drive the market. Rapid urbanization developments will further boost the overall market.
KEY INDUSTRY PLAYERS
"Leading Manufacturers to Boost Product Demand"
Study includes information on the market players and where they stand within the sector. Data is being collected and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials offers details on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.
List of Market Players Profiled
- Airsense (U.K.)
- Alpha MOS (France)
- Brechbuehler (U.S.)
- Sensigent (U.S.)
- Electronic Sensor Technology (U.S.)
REPORT COVERAGE
The segmentation of the market by type and application is covered in detail in the study. A wide spectrum of players, including current and potential market leaders, are examined in the study. A number of significant reasons are expected to fuel a sizable market expansion. The research also includes factors that are probably to increase electronic nose market share in order to provide market insights. The report also contains predictions for market growth during the anticipated time frame. Clarifying why one region dominates the global market is the aim of the regional study. The market is unable to expand due to a number of problems, all of which have been carefully taken into account. The research also contains a market strategic analysis. It includes thorough market information.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 47 Million in 2021 |
Market Size Value By |
US$ 109.47 Million by 2031 |
Growth Rate |
CAGR of 8.8% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the electronic nose market expected to touch by 2031?
Based on our research, the electronic nose market is projected to touch USD 109.47 million by 2031.
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What CAGR is the electronic nose market expected to exhibit by 2031?
The electronic nose market is expected to exhibit a CAGR of 8.8% by 2031.
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Which are the driving factors of the electronic nose market?
Advanced technology that gives the market extra boost & companies launching new products to encourage electronic nose market expansion.
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What is the restraining factor of the electronic nose market?
High initial cost of product to impede electronic nose market expansion.