November 19, 2021
According to a research report titled ‘Global Electronic Nose Market Size study, by end user vertical (Military and Defense, Healthcare, Food and Beverage, Waste Management (Environmental Monitoring), Other End-user Verticals), and Regional Forecasts 2021-2027’, available with MarketStudyReport, global electronic nose market was valued at USD 17.8 million in 2020 and is expected to grow with a healthy CAGR of 12.44% over next six years to amass USD 40.4 million by 2027.
Rising demand in the food sector for quality control, shelf-life study, process monitoring, and authenticity assessment is driving the global electronic nose market.
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For the uninitiated, electronic nose has been explored as part of biomimicry or biomimetics research in attempt to mimic human olfaction and sense a certain perfume, aroma, or flavor. The device allows the operator to quantify and identify a blend of scents without becoming tired. Aromas, or smells, are made up of volatile molecules that are detected by nose receptors, then the signal is conveyed to the brain, which detects the smell as being associated with a specific chemical.
Surging cases of food counterfeiting is also likely to propel the industry outlook. In this context, researchers and academicians of Fatih Sultan Mehmet University have invented an AI based device that helps in preventing food fraud by identifying its authenticity. Such initiatives are acting growth catalysts for the market.
However, high pricing of the equipment may stifle the global electronic nose market growth through 2027.
By end-user vertical, the industry is segmented into healthcare, military & defense, food & beverages, waste management, and others.
Considering the geographical aspect, the market spans across Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America accounts for a significant industry share at present due to active efforts of the government and the corporate authorities for creating a safe working environment. Whereas, Europe market is likely to record a robust CAGR over the forecast period, owing to implementation of e-nose in disaster management.
The major players in global electronic nose market are Electronic Sensor Technology Inc., Alpha MOS, Plasmion GmbH, Odotech Inc., Sensigent LLC, Comon Invent B.V., The eNose Company, Stratuscent Inc, Aryballe Technologies S.A., and AIRSENSE Analytics GmbH.