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, the global market for piezoelectric (PE) sensors and ultrasonic transducers is quite mature. 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 in 2020. 

The PE sensors and ultrasonic transducers market is an attractive and still-growing multi-billion-dollar market characterized by high production volumes of a diversified range of 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 precision, operate in harsh and problematic environments, and are unaffected by target shape or color. 

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