The global piezoelectric sensors market is forecast to grow at a significant CAGR during the forecast period. The growth of the global piezoelectric sensors market attributed to their various applications in different industry verticals such as Industrial & Manufacturing, Automotive, Healthcare, Consumer Electronics, and Others (Aerospace, and Information & Telecommunication). Due to the varying consumer demands for fast, reliable, and strong miniaturized products, piezoelectric sensors exhibit higher penetration in the consumer electronics industry. Also, these sensors are widely being used in aerospace, automotive, and defense sector as they have the ability to function properly even under an electromagnetic field.
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The key market players operating in the global piezoelectric sensors market includeHarris Corp., APC International Ltd., CTS Corp., and Piezocryst Advanced Sensorics GmbHamong others.
Automotive sector to contribute to the growth of the market
Based on the applications, the automotive sector is amongst the key consumer segments that significantly utilizes piezoelectric sensors for various applications. Piezoelectric sensors are widely utilized in the automobile sector for manufacturing seat belt buzzers airbag sensors, airflow sensors, knock sensors, and tire pressure sensors. Thus, the growth in the automotive sector is expected to positively affect market growth in recent yearsacross the globe. Further, according to the International Organization of Motor Vehicle Manufacturers (OICA), in 2016, the total production of vehicles was 4.9% more than that of 2015, and in 2017 it was valued about 2.1% more as compared with production statistics of 2016. With growing automobile productions yearly across the globe, the demand for piezoelectric sensors is likely to get increased.
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These players mainly focus on various strategies in order to remain competitive in the market. Strategies such as mergers & acquisitions, partnerships & collaborations, product launch, geographical expansion among others are majorly adopted by the market players. Additionally, in order to cope up with the on-going technological advancements in a similar industry, the market players are also focusing on their R&D activities.
Current Market Trends Covered in the market report:
An increase in the automotive sector is positively affecting the piezoelectric sensor market growth.
Shifting of consumer preferences toward the use of novel and advanced products is expected to provide a growth rate to the piezoelectric sensor market
Pressure Sensors segment will account for significant growth in the market
The novel innovations and geographical expansions will be the key strategy of the players
The Asia-Pacific will register a significant growth rate in the market
The Report Piezoelectric Sensors Market - Segmented by Type and Applications
• Force Sensors
• Pressure Sensors
• Temperature Sensors
• Others (Accelerometers)
• Industrial & Manufacturing
• Consumer Electronics
• Others (Aerospace, and Information & Telecommunication)
The Report Piezoelectric Sensors Market – Segment by Region
• United States
• United Kingdom
• Rest of Europe
• Rest of Asia-Pacific
Rest of the World
• Middle East & Africa
• Latin America
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