Global Electronic Nose Market to Expand at a CAGR of 12% by 2030

Introduction

Electronic nose, also called E-Nose, is a real-time tool used to identify or detect any hazardous, toxic gases and substances. This electronic nose device is generally used in industries operating on a large scale for the quality checking of their products. Industries such as defense, healthcare, and food and beverage utilize this device and check the freshness of their products. It is quite illogical for companies to use individual manpower to do the quality checking, as it gets quite hard for the employee, it also does not guarantee sincere checking of the products, and it adds to the company’s expenses.

Market Dynamics

Therefore, most of the time, companies prefer the use of the electronic-nose device to ascertain whether the products meet the standard quality or not.

Electric nose contains a mechanism for chemical identification. It consists of an array of electronic sensor mechanisms for pattern identification, including a neural network. Currently, the market is witnessing a gradual shift toward using small, cost-effective electronic devices, proving to be more feasible than the typically large and expensive devices. 

Electronic devices save companies from employing a greater number of people to check the product quality, and it also covers a large area, saving the company money and time, hence making electronic-nose an efficient device for healthcare, consumer goods, military, and defense industries of the economy.

Introduction to Advanced Technology to Drive the Growth of Global Electronic Nose Market

The world has witnessed a revolutionary shift in the field of technology during the past few years, which can also be evidently seen in the electronic nose market. The increased innovations towards generating electronic nose devices with artificial intelligence in their operation have created greater scope for the global electronic nose market. Various companies have also converted generic gas sensors into the customizable electronic nose using advanced technology of machine learning. It allows the developers to create a generic system that could be customized for specific customers or specific purposes, which expands the scope of innovation in the field.

Due to the benefits, the introduction of artificial intelligence brings to the market of electronic-nose, vendors and research institutes generously spend large amounts on the development process of the device. Such growth in the production and technology upswings the global electronic nose market. 

With the advancement in technology, it can make the devices more effective and efficient, the results obtained will gradually get more accurate, with super quality sensor detection of defects, odor, the freshness of the product will also get fast, making it easier for the end-user verticals, and it will also create wider scope for growth of the electronic nose device across the globe while utilizing less time than traditional methods.

Impact of Covid-19

The era of covid opened greater scope for the global electronic nose market. While all the economies were degrading at the time, dealing with the widespread of such a deadly disease, the economies witnessed a fall in their GDP, the functioning of the industries was halted, supply chains were disrupted, production had to stop, developmental projects delayed, and the players of the market had to halt down their activities and operation. In summary, the industries and every economy had to go through a tough time during the covid era. But the overall outlook of the Electronic-Nose market seemed fine.

With the rapid spread of the disease, the need for devices that can detect the virus also increased. This pushed the electronic nose market to expand. The need for electronic nose devices to detect the covid-19 virus in real-time made the demand hike up. The electronic nose device is equipped in such a manner that it can inspect people with symptoms to give them accurate results.

This increased the demand and pushed the government to deploy more investments into the market, produce more devices to inspect the presence of the virus in people and bring newer innovations. Some companies even invested in products that can detect narcotics and explosives as well as can also discover any bacterial or viral disease, all in real-time. 

Regional Insights

North America and Europe had the highest revenue share in the market of electronic nose devices, which is expected to show tremendous growth during the forecast period. 

North America to prevail at the top with an anticipated revenue share of USD 26 million at a CAGR is 16% during the forecast period. This amount is more than thrice the amount noted in 2021 of USD 7 million. The region has some of the best players in the food and beverages industry. The industry is highly regulated, which provides growth opportunities for the electronic nose market to raise its demand. The technology is highly in demand in the region as it can easily detect the freshness of the food items, like meat, and poultry items, which accurately determines the quality and helps to know for long will the food remain un-rotted. U.S spends around USD 600 million every year on its military and defense, and presently U.S army has the most advanced electronic nose system available. Therefore, it could be assumed that the more the U.S spends on its military and defense segment, the more demand could be generated in the global electronic nose market. 

Europe had a revenue share of USD 5 million in 2021, which will significantly rise to USD 14 million by 2030 at a CAGR of 10%. The region has made prominent growth in the application of electronic-nose for the diagnosis of several medical conditions, bringing the demand for electronic nose devices. The region is also the home of major enterprises and companies that are involved in the production and innovation of new products and technology, giving more scope for the electronic market to flourish in the region.

Key Highlights

• The waste management segment had a market share of USD 7 million in 2021, it is expected to be valued at USD 19 million at a CAGR 12% by 2030
• The food and beverage segment had a revenue share of USD 6 million in 2021 and is expected to be valued at USD 19 million at a CAGR 14% by 2030.
• North America to remain at the top even during the forecast period with USD 26 million at a CAGR of 16%.
• Europe had a revenue share of USD 5 million in 2021 and is expected to be valued at USD 14 million at a CAGR of 11%.

Competitive Players

Competitive Players in the Global Electronic Nose Market

Alpha MOS SA, Electronic Sensor Technology Inc., Odotech Inc., AIRSENSE Analytics GmbH, Plasmion GmbH, Aryballe Technologies SA, RoboScientific Limited., Comon Invent BV, Stratuscent Inc., The eNose Company, and Sensigent LLC, Stratuscent Inc.

Recent Developments

Market News

• Alpha MOS SA along with Electrical and Electronics Engineers (IEEE) to participate in establishing international standards for odor detection devices.
• Odotech Inc. has been acquired by Envirosuite Limited.
• 2021, RoboScientific Limited developed “Covid Sensor” which could detect any covid infected person in a room within fifteen minutes.
• Wearable Electronic-Nose sensors that can detect liver dysfunction, called Liver Tracer

Segmentation

Global Electronic Nose Market: Segmentation

By End-User

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

By Region

• North America
• Asia-Pacific
• Europe
• Rest of the World