Piezoelectric device market is anticipated to grow at a considerable CAGR of 4.5% during the forecast period (2024-2031). The industry growth is primarily driven by the increasing uses of nanotechnology and a broadening range of medical and automotive industry applications. Also, it is anticipated that advancement in high-speed communication will foster the market’s growth. Piezoelectric devices find a wide utility in the production of vehicle sensors such as distance and knock sensors. Piezoelectric devices also come in handy in airbag sensor uses, anti-locking brakes, and other automobile-related uses. Consequently, while piezoelectric materials change their shape and size under mechanical stress, electrical charges are often generated in such materials. The primary driving forces for the growth of the global piezoelectric device market consist of the extensive versatility of the piezoelectric device and the innovation of nanotechnology advancement.
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Recent Developments
- In April 2023, the Korea Advanced Institute of Science and Technology (KAIST) team designed new sensitive wearable piezoelectric blood pressure sensors for continuous health monitoring.
- In August 2022, MIT revealed wearable ultra-thin skin-like sensors that monitor health vitals and do not require batteries. The sensor is powered by turboelectric nanogenerators. GaN with its piezoelectric nature is applied in measuring vital body parameters and in wireless communication.
- In August 2022, Micromachines revealed the design of a multi-sensor-based, cuffless, and portable Blood Pressure (BP) monitoring system that combines a piezoelectric sensor array with an optical sensor to obtain blood pressure data from the radial artery.
- In June 2022, the acquisition that was carried out to enable CTS Corporation to acquire Ferroperm Piezoceramics from Meggitt PLC leverages the ability of both the technical teams to improve on the new product line and boost growth.
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
- Segment Covered-
o By Applications
o By Material
o By Products
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Aerotech Inc., APC International Ltd., Morgan Advanced Materials, Physik Instrumente (PI) GmbH & Co. KG., and piezo.com among others.
Key questions addressed by the report.
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Piezoelectric Device Market Report Segment
By Product
- Sensors
- Actuators & Motors
- Generators
- Transducers
- Others (Transformers and Resonators)
By Material
- Crystals
- Ceramic
- Polymer
- Composites
By Application
- Aerospace & Defense
- Automotive
- Industrial Manufacturing
- Communication
- Healthcare
- Other (Keyboards, Printers, Desktops, Speakers, Energy Harvesting/Wearables)
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