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THIN FILM PIEZOELECTRIC DEVICES MARKET REPORT OVERVIEW
global thin film piezoelectric devices market size was USD 3860.5 million in 2021 and market to touch USD 17663.98 million by 2032, at CAGR of 14.8% during the forecast period.
Thin film piezoelectric devices are electronic components that convert mechanical pressure into electrical energy and vice versa. The Thin Film Piezoelectric Devices market is a niche market that has grown steadily over the years. Due to increased demand from key industries such as aerospace, consumer electronics and many others, piezoelectric sensors are likely to hold a major market share during the forecast period. In addition, device manufacturers consider the growing demand for cost-effective and long-lasting products when using piezoelectric thin films in energy-harvesting devices. Thin film piezoelectric devices are commonly used in energy harvesting applications due to their strong electromechanical properties.
These devices are known for their ability to convert mechanical energy into electrical energy and vice versa, making them very versatile and useful in many applications. The market for these devices is primarily driven by increasing demand for micro-electromechanical systems (MEMS) and growth in the healthcare industry, where these devices are used in medical imaging systems, implantable medical devices and drug delivery systems. Additionally, the adoption of thin-film piezoelectric devices in various sectors such as aerospace and defense, automotive and consumer electronics is also fueling the market growth.
COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
After the outbreak of the pandemic, many countries implemented strict lockdown measures, which led to the disruption of supply chains and the closure of production facilities. The pandemic has affected the demand for piezoelectric casting services in several sectors including consumer electronics, automotive, healthcare and aviation. Demand for consumer electronics has increased due to telecommuting and online learning, which has led to an increase in demand for piezoelectric devices used in smartphones, laptops and tablets. Automotive and aerospace industry industries experienced reduced demand due to travel restrictions and the general economic downturn. Disruptions in the supply chain and closures of production facilities have caused shortages of raw materials and delays in bringing products to market. The amount spent on research and development declined due to economic instability, which slowed the development of new products. The need to monitor and diagnose patients with COVID-19 has greatly increased the demand for healthcare services. Piezoelectric devices have been used in medical devices such as such as sensors and ultrasound devices that have led to the growth of the healthcare market. The impact of COVID-19 on the piezoelectric device pain care industry has been mixed, with growth in some sectors while demand has decreased in others.
LATEST TRENDS
"Growing Need for Accurate Haptic Feedback and Touch Recognition to Drive Market Growth"
In consumer electronics, there is a growing need for accurate haptic feedback and touch recognition Piezoelectric technology is increasingly used in consumer electronics such as smartphones, wearables and Internet of Things devices, haptic feedback and touch applications. Haptic feedback refers to the use of tactile feedback (such as vibration or pulse) to provide users with sensory cues, such as confirmation or notification of an action. Touch sensing, on the other hand, refers to the ability of a device to detect touch or pressure on its surface, allowing the user to perform various actions. Its high sensitivity and accuracy, low power consumption and small size make it ideal for these applications. It can be used to generate vibrations or pulses for haptic feedback that is more accurate and reliable than those produced by conventional vibration motors. This allows for more realistic and nuanced feedback, such as different vibrations for different types of notifications or interactions. These devices use less energy than vibration motors, which can help extend battery life. For touch sensing, piezoelectric devices can be used to sense changes in pressure or stress on the surface of a device and surface, allowing the user to perform various actions such as tapping, swiping or pressing.
THIN FILM PIEZOELECTRIC DEVICES MARKET SEGMENTATION
- By Type
Based on type the global market can be categorized into AlN Thin Film, PZT Thin Film.
AlN has the largest piezoelectric response when its growth axis is the same as the (0002) crystal direction. Aluminum nitride is one of the few materials that provides electrical insulation and high thermal conductivity. This makes AlN very useful in high power electronic applications in heat sinks and heat dissipation applications.
Piezoelectric thin film is one of the most important materials in the miniaturization of electronic components. In microelectromechanical systems (MEMS) applications, piezoelectric thin films can be used in many electronic devices such as actuators, resonators, and filters.
- By Application
Based on application the global market can be categorized into Consumer Electronics, Healthcare, Aerospace and Defense, Others.
The growing number of medical procedures in healthcare sector involving dental implants, cardiovascular implants, orthopedic implants and medical imaging devices is one of the major drivers of this product segment.
Growing demand for lightweight materials in the aerospace industry is expected to drive the piezoelectric composite materials market.
DRIVING FACTORS
"Widespread Use of Piezoelectric Products in the Aerospace Industry to Drive Market Growth "
Major players in the aerospace industry are often involved in the production, sale and maintenance of commercial aircraft, spacecraft and satellites. The industry needs advanced and advanced solutions to increase the efficiency, durability and performance of airplanes, aircraft, helicopters, submarines, etc. Piezoelectric actuators are used in active vibration damping technology to control various mechanical structures and parts of modern aircraft to prevent unwanted. vibration, reduces noise levels, reduces fuel consumption and minimizes energy loss in aircraft.
"High Quality End Products and Low Costs to Increase Market Share "
In recent years, significant progress has been made in high-quality coating methods used to create piezoelectric materials due to their low It is now possible to incorporate ferroelectric lead zirconate titanate (PZT) films and chemical solutions into coating-based transducers to combat piezoelectric materials. In addition, researchers are still working hard to find ways to minimize and control optimal material usage, sensor drift, and aging characteristics of thin-film piezoelectric materials. Increasing deployments of the Internet of Things (IOT), Virtual Reality (VR), Artificial Intelligence (AI) and Big Data Analytics, along with the expansion of 4G and 5G, are advancing electronic technology. This event increases consumer demand in commercial, residential and industrial spaces applications Piezoelectric applications such as camera autofocus, speakers and microphone are driving the thin film piezoelectric devices market growth.
RESTRAINING FACTORS
"High Initial Investment Costs to Impede Market Growth"
Piezoelectric devices require significant investment in research and development due to the complex design and manufacturing process of these devices. This process involves micromanufacturing techniques that require specialized equipment and expertise and can involve several steps to create the final product. In TGG, the nucleation and growth of the desired crystal with aligned single crystal template particles results in a higher proportion of oriented material upon heating. To facilitate alignment during design, model particles must be anisometric in shape. The matrix particles must be single-crystalline and chemically stable up to the growth temperature to be favorable sites for matrix epitaxy and subsequent oriented growth.
THIN FILM PIEZOELECTRIC DEVICES MARKET REGIONAL INSIGHTS
"Asia Pacific to Dominate the Market due to Growing demand for Piezoelectric Devices in the Medical Field"
The market is primarily segmented into Europe, Latin America, Asia Pacific, North America and Middle East and Africa.
Asia Pacific is expected to have the largest thin film piezoelectric devices market share by 2020. APAC is the largest producer of piezoelectric crystals, producing about 2 billion piezoelectric crystals annually. These piezo crystals have applications in consumer electronics. The market in the APAC region consists of emerging economies such as China and India, which have huge potential for piezoelectric devices. Some of the key factors driving the demand for piezoelectric technologies in the Asia Pacific region are the proliferation of wearable electronic technology and growth in digitization and information and communication markets. Growing demand for piezoelectric devices in the medical field in APAC is also expected to aid market growth. Continued urbanization and increasing investment in the region by global healthcare solution providers are the main factors driving the high demand for advanced medical solutions and surgical tools that use piezoelectric devices.
EY INDUSTRY PLAYERS
"Key Industry Players Shaping the Market through Innovation and Market Expansion"
There are many players in the market, each with their own initiatives. Some companies focus on expanding their product portfolio, while others seek to strengthen their market position through partnerships and collaborations. Other initiatives include R&D's investments in innovative product development and expansion customer base and improve its production capacity. Some companies want to increase their geographic presence by expanding their operations worldwide. Overall, the market is highly competitive and major players are adopting various measures to maintain or strengthen their market position.
List of Market Players Profiled
- Broadcom (U.S.)
- Qorvo (U.S.)
- Epson (Japan)
- Fujifilm (Japan)
- Silicon Sensing (Japan)
- Panasonic (Japan)
- STMicroelectronics (Switzerland)
- Vesper Technologies (U.S.)
- XAAR (U.K.)
INDUSTRIAL DEVELOPMENT
May 2022: AlN HP is CeramTec's new high-performance platform. AlN stands for Aluminum Nitride, a material with excellent thermal conductivity that is ideal for use in rail vehicle construction or power converters for alternative energy applications. HP means high performance and shows the superior flexural strength of the material of 450 MPa (megapascals).
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 3860.5 Million in 2021 |
Market Size Value By |
US$ 17663.98 Million by 2032 |
Growth Rate |
CAGR of 14.8% from 2021 to 2032 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered | |
By Type
|
|
By Application
|
Frequently Asked Questions
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What value is the thin film piezoelectric devices market expected to touch by 2032?
The global thin film piezoelectric devices market is expected to reach USD 17663.98 million by 2032.
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What CAGR is the thin film piezoelectric devices market expected to exhibit by 2032?
The thin film piezoelectric devices market is expected to exhibit a CAGR of 14.8% by 2032.
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Which are the driving factors of the thin film piezoelectric devices market?
Widespread use of piezoelectric products in the aerospace industry and high-quality end products and low costs to increase market share and technological innovations in consumer electronics are some of the driving factors of the thin film piezoelectric devices market.
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What are the thin film piezoelectric devices market segments?
The thin film piezoelectric devices market segmentation that you should be aware of, which include, Based on type the thin film piezoelectric devices market is classified as AlN Thin Film, PZT Thin Film. Based on application the thin film piezoelectric devices market is Consumer Electronics, Healthcare, Aerospace and Defense, Others.