Thin Film Piezoelectric Devices Market - Forecast(2021 - 2026)

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Thin Film Piezoelectric Devices Market Overview

Global Thin Film Piezoelectric Devices Market is forecast to reach $15.3 billion by 2026, growing at a CAGR of 13.9% during the forecast period from 2021 to 2026. The thin film piezoelectric device market is driven primarily by the factors such as increasing demands from the medical sector in various medical applications along with growing technology advancements towards nanotechnology. Moreover, rising developments towards piezoelectric devices and deployment in energy harvesting systems are also contributing towards significant market growth. With its growing deployment across major industries like consumer electronics, aerospace and many others, these devices are facing high market demands in the market. The various uses of piezoelectric devices, primarily, piezo sensors, accelerometers, pressure sensors, micro pumps, actuators and acoustic resonators are driving the opportunities for thin film piezoelectric device market during the forecast period

Report Coverage

The report: “Thin Film Piezoelectric Devices Market – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Thin Film Piezoelectric Devices Market.
By Type: Piezoelectric sensors, Piezoelectric actuators, Piezoelectric transducers & Others
By Material: Ceramics, Polymers and others
By End Users: Healthcare, Consumer Electronics, Aerospace and Defense and Others
By Geography: North America (U.S, Canada and Mexico), Europe (U.K, Germany, France, Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific),South America (Brazil, Argentina and Rest of South America), RoW (Middle East and Africa)

Key Takeaways

  • Piezoelectric sensors are expected to have a major market share during the forecast period 2020-2025 owing to growing demands from major industrial sectors such as aerospace, consumer electronics and many others.
  • APAC is expected to have a major growth during the forecast period prior to its high research and development investments along with growing sectors like consumer electronics have been helping in booming the market growth.
  • Rising deployments in energy harvesting systems along with increasing demands from medical industry are some of the major driving factors accounting towards significant market growth of thin film piezoelectric devices.

Thin Film Piezoelectric Devices Market, By Region, 2020

Thin Film Piezoelectric Devices Market

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Thin Film Piezoelectric Devices Market Segment Analysis – By Type

Thin film piezoelectric sensors have been facing high market demand at 15.1% CAGR due to their demanding applications across major industry verticals such as aerospace, consumer electronics and many others. Moreover, such sensors are capable of withstanding higher temperature and pressure conditions, which causes its high growth across harsh environments. Since these sensors provide features like high sensitivity along with low power consumption, they are getting highly deployed in various medical applications including medical equipment thus propelling its market growth along with such features, high robustness, high frequency and response time of thin film piezoelectric sensors are making it highly deployable for a wide range of aerospace and industrial applications, improving the efficiency standards. Such factors can help such sensors to contribute towards high market share during the forecast period.

Thin Film Piezoelectric Devices Market Segment Analysis –By End User type

Consumer Electronics segment held the highest market share of thin film piezoelectric devices market in 2020 at 32.4%. Moreover, it is anticipated to witness the significant market growth during the forecast period 2021-2026. The market growth is due to its various applications such as microphone for smartphone and smart home applications, Inkjet print heads, micro mirror for LIDAR and projectors. In addition to it, smart mirrors for EUV lithography, microfluidic pumps and valves, ultrasound transducers (PMUT), RF-switches, energy harvesters, energy storages, fingerprint sensors, micro speaker, and others are some of its applications. Piezoelectricity, next to electrostatic or magnetic actuation is one of the key actuation pathways in MEMS systems. Piezoelectric actuation enables low voltages and function with low electricity, durable mechanical architecture. Moreover the sensing features can be easily added. Consequently with the rising development in the miniaturisation of electronic devices and ICs, the industry is seeing a growth in the use of thin film piezoelectric devices thereby enhancing the market growth. 

Thin Film Piezoelectric Devices Market Segment Analysis – By Geography

Asia Pacific is expected to have a major growth at 14.9% CAGR in the global thin film piezoelectric devices market during the forecast period from 2021 to 2026. High investments towards research and development along with growing adoption across major industrial sectors have been causing major growth of thin film piezoelectric devices market. Moreover, rising growth of leading industries such as consumer electronics and many others is causing high demands for such devices, thus booming its market growth in this region.

Thin Film Piezoelectric Devices Market Drivers

Growing adoption from medical sector

Increasing adoption from medical sector has been acting as a major driving factor towards the market growth of thin film piezoelectric devices. Due to offering features such as flexibility and no external power requirement for functioning, thin film piezoelectric devices are getting highly deployed across various medical devices. Moreover, thin film piezoelectric devices are generally small sized and lightweight, which helps in detection of small movements more effectively. Since these piezoelectric devices are capable of detecting tiny physical signals, they are highly deployed across applications such as pulse measurement, measurement of muscle movements in various body parts of patients and many others. Thin film piezoelectric sensors are being used in stethoscopes due to their robust and high sensitivity features, thus boosting the market growth.

Rising demand for energy harvesting systems

Rising adoption in energy harvesting devices has been acting as a major driving factor towards the market growth of thin film piezoelectric devices. Usage of thin film piezoelectric in energy harvesting devices helps in providing various advantages. Due to its high piezoelectric coefficients, high power output density and many others, energy harvesters are able to function more efficiently within lesser power requirement. Moreover, growing need towards cost efficient devices which can provide a longer lifespan is also a major factor considered by device manufacturers while deploying piezoelectric thin films in energy harvesting devices. With high electromechanical properties, various types of thin film piezoelectric devices are majorly used for energy harvesting applications.

Thin Film Piezoelectric Devices Market Challenges

High costs

 With its major use in demanding applications across various industry verticals, thin piezoelectric devices have been gaining much popularity in the market. High initial investments required for development of such piezoelectric devices is a major factor hampering its market growth. With growing technological advancements such as nanotechnology and many others, there are higher demands towards miniature and highly precised piezoelectric devices in the market. But, there are high manufacturing costs related to developing such piezoelectric devices with advanced technology features, thus causing reduction in its market growth. Moreover, the materials used for making thin film piezoelectric devices are comparatively costly, thus bulk production needs higher investments. Such factors contribute towards higher manufacturing costs, thus causing lesser adoption and development from the manufacturers.

Thin Film Piezoelectric Devices Market Landscape

Partnerships and acquisitions along with product launches are the key strategies of the players in the thin film piezoelectric devices market. The major key players in the thin film piezoelectric devices market include Broadcom Inc., Qorvo, Rohm Semiconductor, Baumer, Applied Materials Inc., Ceramtec, CTS Corporation, Epson, Robert Bosch and Fujifilm Dimatix.

Partnerships/Product Launches/Acquisition

  • In December 2019, Silex Microsystems AB and ULVAC Inc. had announced of signing a partnership agreement for the development of production thin film piezoelectric process. This partnership was made for providing cutting edge performance and reliability for MEMS actuators and sensors.
  • In August 2019, ULVAC Inc. had announced the launch of PZT piezoelectric thin film process technology along with a HVM solution. This development was made to solve issues that have been hampering the growth of MEMS devices, used in applications like autonomous driving and next generation wearable devices. This will further help MEMS devices to provide features such as reduced production costs, lower power consumption, along with high performance and miniaturization.

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1. Thin Film Piezoelectric Devices Market Overview
    1.1 Definitions and Scope
2. Thin Film Piezoelectric Devices Market   - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key trends By Application
    2.3 Key trends segmented by Geography
3. Thin Film Piezoelectric Devices Market – Market Landscape
    3.1  Comparative Analysis
        3.1.1 Product/Company Benchmarking-Top 5 Companies
        3.1.2 Top 5 Financial Analysis
        3.1.3 Market Value Split by Top 5 Companies
        3.1.4 Patent Analysis
        3.1.5 Pricing Analysis (Comparison of General Price of Industry Solutions)
4. Thin Film Piezoelectric Devices Market – Industry Market Entry Scenario Premium (Premium)
    4.1 Regulatory Scenario
    4.2 Ease of Doing Business Index
    4.3 Case Studies
    4.4 Customer Analysis
5. Thin Film Piezoelectric Devices Market – Startup Company Scenario (Premium)
    5.1 Venture Capital and Funding Scenario
    5.2 Startup Company Analysis
6. Thin Film Piezoelectric Devices Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Thin Film Piezoelectric Devices Market – By Strategic Analysis (Market Size -$Million/Billion)
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Product Life Cycle/Market Life Cycle Analysis
8. Thin Film Piezoelectric Devices Market – By End Use Industry (Market Size -$Million/Billion)
    8.1 Healthcare
    8.2 Consumer  Electronics
    8.3 Aerospace and Defense
    8.4 Others
9. Thin Film Piezoelectric Devices Market – By Material (Market Size -$Million/Billion)
    9.1 Ceramics
    9.2 Polymers
    9.3 Others
10. Thin Film Piezoelectric Devices Market – By Type(Market Size -$Million/Billion)
    10.1 Sensors
    10.2 Transducers
    10.3 Actuators
    10.4 Others
11. Thin Film Piezoelectric Devices Market - By Geography (Market Size -$Million/Billion)
    11.1 North America
        11.1.1 U.S
        11.1.2 Canada
        11.1.3 Mexico
    11.2  Europe
        11.2.1 Germany
        11.2.2 France
        11.2.3 UK
        11.2.4 Italy
        11.2.5 Spain
        11.2.6 Russia
        11.2.7 Netherlands
        11.2.8 Others
    11.3  APAC
        11.3.1 China
        11.3.2 Japan
        11.3.3 South Korea
        11.3.4 India
        11.3.5 Australia
        11.3.6 Indonesia
        11.3.7 Malaysia
        11.3.8 Others
    11.4  South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Chile
        11.4.4 Colombia
        11.4.5 Others
    11.5  RoW
        11.5.1 Middle East
        11.5.2 Africa
12. Thin Film Piezoelectric Devices Market - Market Entropy
    12.1 New product launches
    12.2 M&A's, collaborations, JVs and partnerships
13. Thin Film Piezoelectric Devices Market – Industry Competitive Landscape (Premium)
    13.1 Market Share – Global
    13.2 Market Share by Region
    13.3 Market Share By End Use Industry
14. Thin Film Piezoelectric Devices Market – Key Company List by Country Premium (Premium)
15. Thin Film Piezoelectric Devices Market - Company Analysis
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10