The global piezoelectric sensor market is estimated to cross $2.3 billion by 2023 growing at CAGR 5.08% during the forecast period 2018-2023. Increasing demand for miniaturization gives rise to advance models of computing as small and integrated devices working collaboratively with communication capabilities, thus enhancing the growth of piezoelectric sensors market across the various industries. Moreover, surging wireless sensing networks and IOT deployment are further proliferating the demand for piezoelectric sensor across the globe.
What is Piezoelectric Sensor?
Piezoelectric sensors measure the electrical charge by utilizing piezoelectric materials that include Barium titanate, Lead zirconate titanate, and many others. Piezoelectric sensor are being developed to be immune to dust, dirt, grime, and liquids, and can work in high temperatures and humidity levels. Therefore, growing applications in semiconductor industry acts as one of the major driver for position sensor market. Piezoelectric sensor market is experiencing a healthy growth rate over the few years due to increasing demand for the smart devices.
In aerospace industry, the flight environment is quite harsh due to changes in humidity, temperature, pressure, speed, & loading conditions and these effects cause a lot of stress to the aircraft frame. Piezoelectric sensors are being employed to measures variables such as strains and other mechanical changes to the structure, thus creating opportunities for the growth of market.
This report incorporates an in-depth assessment of piezoelectric sensor market by applications, end user industry, energy source, and geography. The major types of applications encompassed in the scope includes aerospace & defense, industrial & manufacturing, automotive, healthcare, telecommunication, consumer electronics, and others.
What are the major applications for piezoelectric sensors?
Currently, measuring parameters of the solid particles present in a gas or liquid flow in an industrial process are rapidly increasingly due to regulatory requirements for the quality check of process efficiency, pollutant emissions and product quality. Therefore, industrial and manufacturing segment is considered one of the major application of piezoelectric sensors and utilized for various appliances that include smart metering, smart transportation, smart grid, smart traffic, and others.
Market Research and Market Trends of Piezoelectric Sensors
- The huge potential market for wireless sensors that run on power derived from mechanical energy source is set to significantly boost the demand for piezoelectric sensors over the next few years. Furthermore, these sensors are gaining momentum due to rising power densities and higher feasibility for practical applications.
- According to AECOM statistics, APAC is the major region with rising number of cities with more than 50,000 population. The growing urbanization makes it inevitable for the government to increase the rate of construction in various countries, this highly influences the growth of these piezoelectric sensors for home automation applications.
- In 2017, researchers from MIT have built flexible sensors made up of piezoelectric materials which are found to detect movement in gastrointestinal tract. This is widely anticipated to be adopted into the healthcare sector as it could help doctors identify and diagnose gastrointestinal disorders, thus creating a huge opportunity for the growth of market.
- According to U.S. Energy Information Administration, about 21.23% of the total U.S. energy consumption was consumed by the residential sector as of year 2016. Therefore, increasing emphasis power consumption coupled with the rising concerns on the maintenance of the electronic components will surely escalate the demand for piezoelectric sensors over the next few years.
Who are the Major Players in Piezoelectric Sensors Market?
The major companies referred in the market research report includes TE Connectivity (U.S.), CTS Corporation (U.S.), Spectris (U.K.), First Sensor AG (Germany), Parker Hannifin Corporation (U.S.) and others.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.