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Electronic Nose Market is Booming with a CAGR of 10.94% by 2028

12-12-2023 01:50 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: IMARC Group

Electronic Nose Market

Electronic Nose Market

According to IMARC Group, the global electronic nose market size reached US$ 21.2 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 40.2 Million by 2028, exhibiting a growth rate (CAGR) of 10.94% during 2023-2028.

The report has segmented the market by region, type, technology type and end use industry.

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Factors Affecting the Growth of the Electronic Nose Industry:

• Technological Advancements:

Technological advancements, such as sensor technology, artificial intelligence (AI), and machine learning (ML), in the electronic nose assist in improving their performance, which is bolstering the market growth. In addition, sensors enable them to detect even small amounts of volatile compounds accurately. Moreover, AI and ML algorithms benefit in processing and interpreting the data collected by electronic noses with high precision. Apart from this, electronic noses can analyze complex odor profiles and identify specific compounds. Additionally, miniaturization and cost reduction in sensor components make electronic noses more accessible to a wider consumer base.

• Rising Environmental Concerns:

The growing demand for electronic noses due to rising environmental concerns is offering a positive market outlook. In line with this, people are increasingly becoming aware about air and water quality. Furthermore, governing agencies of various countries are focusing on monitoring and reducing emissions, pollutants, and contaminants. They are also implementing stringent environmental regulations to curb pollution, which is strengthening the market growth. Apart from this, electronic noses can detect and quantify various volatile compounds in real-time, aiding in pollution control and environmental conservation efforts.

• Increasing Utilization in the Food and Beverage (F&B) Industry:

The increasing utilization of electronic noses in the food and beverage (F&B) industry is propelling the growth of the market. In addition, there is a rise in the need for enhanced quality control and product consistency. These devices can detect subtle changes in flavor and aroma, ensuring that food and beverage products meet stringent quality standards. Besides this, they can identify variations in ingredients, detect spoilage, and ensure product freshness. Moreover, the escalating demand for enhanced taste experiences among individuals is bolstering the market growth.

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Electronic Nose Market Report Segmentation:

By Type:

• Embedded Sensors
• Portable Devices

On the basis of type, the market has been bifurcated into embedded sensors and portable devices.

By Technology Type:

• Metal Oxide Semi-Conductor Sensors (MOS)
• Quartz Crystal Microbalance (QCM)
• Conducting Polymers (CP)
• Others

Based on the technology type, the market has been classified into metal oxide semi-conductor sensors (MOS), quartz crystal microbalance (QCM), conducting polymers (CP), and others.

By End Use Industry:

• Military and Defense
• Healthcare
• Food and Beverage
• Waste Management (Environmental Monitoring)
• Others

Waste management (environmental monitoring) holds the biggest market share as electronic noses can detect and analyze odorous emissions from landfills, wastewater treatment plants, and industrial facilities.

Regional Insights:

• North America
o United States
o Canada
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa

North America enjoys the leading position in the electronic nose market on account of the rising focus on environmental issues.

Global Electronic Nose Market Trends:

The increasing employment of electronic noses in healthcare applications, such as monitoring patient health and treatment efficacy, is contributing to the growth of the market. They can also analyse the breath of a patient for specific markers related to conditions like asthma, chronic obstructive pulmonary disease (COPD), and even bacterial infections. Besides this, the growing demand for electronic noses for improved patient care is positively influencing the market.

Furthermore, the rising adoption of electronic noses in various applications due to their affordability is supporting the growth of the market.

Leading Companies Operating in the Global Electronic Nose Industry:

• Aernos Inc.
• AIRSENSE Analytics GmbH
• Alpha Mos
• Chromatotec Inc.
• Comon Invent B.V.
• Electronic Sensor Technology Inc.
• Envirosuite Limited
• Odotech Inc.
• Plasmion GmbH
• Sensigent, Stratuscent Inc.
• The eNose Company

Other Key Points Covered in the Report:

• COVID-19 Impact
• Porters Five Forces Analysis
• Value Chain Analysis
• Strategic Recommendations

Browse More:-

Diabetes Care Devices Market:- https://www.imarcgroup.com/diabetes-care-devices-market

Aviation Analytics Market:- https://www.imarcgroup.com/aviation-analytics-market

Wax Market:- https://www.imarcgroup.com/wax-market

Polyamide Market:- https://www.imarcgroup.com/polyamide-market

Contact Us:

IMARC Services Private Limited.
134 N 4th St. Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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