Key Trends Shaping the Piezoelectric Devices Market
The piezoelectric devices market is projected to grow from USD 32.7 billion in 2023 and is projected to reach USD 46.0 billion by 2028; it is expected to grow at a CAGR of 7.0% from 2023 to 2028.Increasing adoption of piezoelectric devices in energy harvesting is one of the major driver of the market.
Key Trends Shaping the Piezoelectric Devices Market
- Growing
Demand in Consumer Electronics
The consumer electronics sector is a major driver of the
piezoelectric devices market. Applications include vibration motors in
smartphones, touch-sensitive screens, and audio equipment. The demand for
compact, high-performance components that enhance user experience is fueling
the growth of piezoelectric devices in this sector.
- Advancements
in Medical Technology
Piezoelectric devices are making significant strides in
medical technology. They are used in ultrasound imaging, where piezoelectric
crystals generate and receive sound waves, providing detailed internal images
of the body. Additionally, piezoelectric materials are employed in diagnostic
tools, therapeutic devices, and even in wearable health monitoring systems.
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- Energy
Harvesting and Sustainability
The trend towards sustainability is driving innovation in
piezoelectric energy harvesting. These devices can convert mechanical
vibrations or movements into electrical energy, which can be used to power
small electronic devices or sensors. Applications in wearable technology,
remote sensors, and self-powered systems are gaining traction as industries
look for energy-efficient solutions.
- Automotive
Sector Innovations
In the automotive industry, piezoelectric devices are used
in various applications, including vibration control, fuel injection systems,
and airbag sensors. The increasing focus on improving vehicle safety,
performance, and efficiency is driving the adoption of piezoelectric
technologies. Additionally, advancements in autonomous vehicle technology are
further enhancing the demand for precise and reliable piezoelectric sensors.
- Integration
with IoT (Internet of Things)
The rise of IoT is creating new opportunities for
piezoelectric devices. Sensors and actuators based on piezoelectric materials
are being integrated into IoT systems for applications such as environmental
monitoring, industrial automation, and smart home devices. The ability to
provide real-time data and enhance connectivity is contributing to the growth
of the market.
Asia Pacific to have largest share of piezoelectric
devices market in during the forecast period.
Asia Pacific region is expceted to have largest market size
of piezoelectric devices market during the forecast period. China, Japan, and
South Korea adopt piezoelectric devices at a higher rate owing to the benefits
offered by them, including high accuracy, high sensitivity, and low cost.
Moreover, industrial developments and a concentration of manufacturing
activities in China and Japan drive economic growth of the region, which, in
turn, is expected to result in increased adoption of piezoelectric devices in
Asia Pacific.
Key players in the piezoelectric devices market include
CeramTec GmbH (Germany); CTS Corporation (US); Kistler Group (Switzerland);
Physik Instrumente (PI) GmbH & Co. KG. (Germany); piezosystem jena GmbH
(Germany); Piezo Technologies (US); Aerotech Inc. (US); APC International,
Ltd., (US); Mad City Labs, Inc. (US) are among the leading companies in the
piezoelectric devices market. Apart from these, Kinetic Ceramics (US),
Johnson Matthey Piezo Products GmbH (Germany), PI Ceramic (Germany), Piezo
Solutions (US), DYTRAN INSTRUMENTS INCORPORATED (US), Piezomechanik Dr. Lutz
Pickelmann GmbH (Germany), PiezoMotor (Sweden), PCB Piezotronics, Inc. (US) are
among a few emerging companies in the piezoelectric devices market.
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