The surge of the Piezoelectric Device Market
The piezoelectric devices market is projected to grow at a CAGR of 5.22% during the forecast period to reach US$31.027 billion by 2027, from US$21.730 billion in 2020. Piezoelectricity is an electric charge that accumulates in response to applied mechanical stress in materials that have non-centrosymmetric crystal structures. Piezoelectric devices include products such as actuators, transducers, sensors, motors, generators, and others. Different devices have their own distinct functions, such as Piezoelectric transducers are used to convert an acoustic wave into a radio frequency wave and vice versa. Whereas, the piezoelectric actuator features high displacement accuracy, and high response speed, which is mainly used in industrial machinery that requires precise position control. Moreover, these devices can measure changes in pressure, acceleration, temperature, or force by converting them into electronic charges. Piezoelectric devices are utilized in a variety of products, including