The global piezoelectric smart materials market is projected to grow at a compound annual growth rate (CAGR) of 13.17% from 2017-2021, according to a report available from Research and Markets. Piezoelectric smart materials are used in actuators, sensors, and memory devices for end-user segments such as construction, transportation, medical, and sports. Actuators are used to convert electrical energy to mechanical energy in semiconductors, fiber optics, inkjet printers, and diverse types of sensors.

The latest trend gaining momentum in the market is the increasing introduction of nanotechnology in smart materials. For example, smart nanofibers are increasingly being used in light-emitting transistors and advanced organic solar cells.

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