The market for the healthcare application segment is to witness the highest growth during the forecast period. When a mechanical force is applied for ultrasound applications, piezoelectric crystals are automatically deformed and produce a tiny voltage, which is used for producing and detecting ultrasonic sound waves. They change their shapes in small amounts, mostly in nanometers, and generate electricity whenever subjected to vibrations or external mechanical stress. Piezoelectric crystals are small-scale energy sources.
The market for the piezoelectric crystal segment is expected to hold a significant share during the forecast period. These devices possess the properties of both sensors and actuators. Piezoelectric ultrasonic transducers transmit and receive ultrasonic waves used in sensing and imaging applications. They produce an electric output voltage by converting these parameters into an electric charge. Piezoelectric transducers use the piezoelectric effect to measure changes with respect to acceleration, force, pressure, strain, and temperature. The piezoelectric transducer is expected to have the second largest market size in terms of product during the forecast period. The market for piezoelectric transducers is to hold the second-largest share during the forecast period. The piezoelectric devices market is valued at USD 32.7 billion in 2023 and is projected to reach USD 46.0 billion by 2028, growing at a CAGR of 7.0% from 2023 to 2028.
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