Due to the emergence of the Internet of Things (IoT) and automation in industrial processing and home applications, the demand for sensors and transducers has increased dramatically. According to a recently published iRAP report titled, ‘Piezoelectric Sensors and Ultrasonic Transducers - Types, Materials, Applications, New Developments, Industry Structure and Global Markets’, the global market for PE sensors and ultrasonic transducers is quite mature in applications. The combined market is estimated to have reached $4.3 billion in 2015 and is expected to grow at a growth rate of 6.7% to reach $6 billion 2020.
The piezoelectric (PE) sensors and ultrasonic transducers market is an attractive and still-growing multi-billion-dollar market characterized by very high production volumes of a diversified range PE sensors and ultrasonic transducers that must be both extremely reliable and low in cost. Growth in the PE sensors market continues to be driven by increasing demands in several segments including predictive maintenance and condition monitoring; testing and measurement of vibration in mechanical, electrical and manufacturing equipment and applications; vibration monitoring; high temperature applications; and harsh and explosive applications.
Ultrasonic sensors for medical imaging have a broad customer base, and new applications such as high-intensity focused ultrasound (HIFU) have now entered the mainstream and are showing significant sales volumes. Ultrasonic transducers have developed into universal solutions that cover a wide range of applications, offering reliable operation in environments where traditional sensing technologies are unsuitable. They detect objects with utmost precision, operate in harsh and problematic environments, and are unaffected by target shape or color.
The new iRAP report focuses on the underlying economic issues driving the growth in demand for PE sensors and ultrasonic transducers, as well as assessments of advanced piezoelectric devices that are being developed. The six generic families of transducers covered in this paper include flow sensors, proximity sensors combined with position and distance transducers, level sensors, acoustic sensors combined with ultrasonic transducers for non-destructive testing, medical imaging equipment and fluid property sensors. The study also provides extensive quantification of the many important facets of worldwide market development for PE sensors and ultrasonic transducers, capturing the markets in North America, Europe, Japan, China and the rest of the world (ROW). This, in turn, contributes to a determination of the kinds of strategic responses companies may adopt in order to compete in these dynamic markets.
More details of the report are available at http://www.innoresearch.net/reportlist.aspx?cid=4