Piezoelectric Devices Market Share and Scope by 2031
The Piezoelectric Devices Market size is projected to reach US$ 56.74 billion by 2031 from US$ 32.54 billion in 2023. The market is expected to register a CAGR of 7.2% during 2023–2031. The rising in the aerospace industry is likely to remain a key trend in the market.
Piezoelectric Devices Market Analysis
- Increasing consumption of piezoelectric devices in consumer electronics is driving the global piezoelectric devices market. The rise in Automation, technological developments, and the need for energy-efficient & compact solutions in various industries are propelling demand for piezoelectric devices.
- New applications, such as blood pressure monitoring, robotic operating tools, and energy harvesting, are fueling demand for piezoelectric devices. Furthermore, the unique properties of piezoelectric devices, such as fast response, high sensitivity, low power consumption, and compact size, make them valuable in several industries ranging from healthcare to consumer electronics.
- Technological advancements in piezoelectric devices offer lucrative opportunities to piezoelectric devices market players.
Piezoelectric Devices Market Overview
- Piezoelectric devices are pieces of equipment that use the piezoelectric effect to monitor pressure, temperature, acceleration, and force by transforming mechanical energy into an electrical pulse in the environment. Generators, actuators, sensors, and transducers are some of the most typical devices.
- When mechanical vibrations or stress are applied to them, piezoceramics such as quartz are manipulated to convert physical force into alternating current. These gadgets, nothing like their conventional equivalents, are not concerned by electromagnetic fields and radiations and may be utilized in harsh environments
- As a result, these devices are widely used in a variety of industries, including aerospace and military, automotive, consumer products, healthcare, information technology (IT), telecommunications, and manufacturing.
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Piezoelectric Devices Market: Strategic Insights
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Piezoelectric Devices Market Drivers and Opportunities
Increasing Automation in end-use industries
- End-use industries, including automotive, have pushed for Automation in their manufacturing lines. This ambition has increased the demand for devices such as transducers, sensors, motors and actuators to run the production line efficiently. As these devices use properties endowed by piezoelectric materials to measure various quantities such as pressure, acceleration, acoustic intensity, and strain, the demand for such materials is anticipated to expand considerably with the increasing dependence of industries on Automation.
- Piezoelectric devices are a type of technology that harnesses the piezoelectric effect exhibited by certain materials. This effect refers to the ability of certain materials, such as ceramics and crystals, to create an electric charge when exposed to mechanical stress or pressure. Conversely, when an electric field is applied to these materials, they undergo deformation or mechanical movement. This unique property allows piezoelectric devices to convert mechanical energy into electrical energy or vice versa.
- Piezoelectric devices find a wide range of applications across various industries. One of the prominent applications is in sensors and actuators. Piezoelectric sensors are utilized for measuring physical parameters such as pressure, acceleration, force, and strain. They are commonly used in industrial Automation, automotive systems, aerospace, and healthcare. Piezoelectric actuators, on the other hand, are employed for precise positioning, movement, and vibration control. They are utilized in robotics, micropositioning systems, inkjet printers, and optical devices.
Growing Technological Advancements
- Manufacturers are focusing on advancing material science, nanotechnology, and manufacturing techniques to develop more efficient, compact, and cost-effective piezoelectric devices.
- Furthermore, technical advancements such as the development of smaller nanogenerators are expected to lead the industry even further. Piezoelectric nanogenerators are developed in portable consumer electronics such as smartwatches, smartphones, tablets, and laptops to meet the device's energy and gather vibration energy needs.
Piezoelectric Devices Market Report Segmentation Analysis
The key segments that contributed to the derivation of the Piezoelectric Devices Market analysis are product, material, and application.
- Based on product, the Piezoelectric Devices Market is divided into piezoelectric sensors, piezoelectric actuators, piezoelectric motors, piezoelectric transducers, piezoelectric generators, and others.
- On the basis of material, the market is divided into piezoelectric crystals, piezoelectric ceramics, piezoelectric polymers, and piezoelectric composites.
- Based on application, the market is divided into aerospace and defense, information and communication, consumer electronics, automotive, healthcare, and others.
Piezoelectric Devices Market Share Analysis by Geography
- The Piezoelectric Devices Market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering Piezoelectric Devices Market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers PEST analysis, which involves the study of major factors that influence the Piezoelectric Devices Market in these regions.
Piezoelectric Devices Market Report Scope
Piezoelectric Devices Market News and Recent Developments
The Piezoelectric Devices Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Piezoelectric Devices Market are listed below:
- CTS Corporation announced the acquisition of Ferroperm Piezoceramics from Meggitt PLC for 525 million Danish Krone. Ferroperm specializes in the design and manufacture of high-performance piezoceramic components for use in complex and demanding medical, industrial, and aerospace applications. The company is recognized for its high-quality and innovative piezoceramic technology. (Source: CTS Corporation, Company Website, June 2022)
- The system, created through an international collaboration led by researchers at Japan's Tohoku University, combines piezoelectric composites, which generate electricity when physically stressed, with unidirectional carbon fiber (UDCF), which acts as both an electrode and a directional reinforcement. The team believes the technology is ideally suited for use in the aerospace, automobile, sports equipment, and medical industries. (Newsletter, January 2024).
Piezoelectric Devices Market Report Coverage and Deliverables
The “Piezoelectric Devices Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Piezoelectric Devices Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope.
- Piezoelectric Devices Market trends as well as market dynamics such as drivers, restraints, and key opportunities.
- Detailed PEST/Porter’s Five Forces and SWOT analysis.
- Piezoelectric Devices Market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Piezoelectric Devices Market.
- Detailed company profiles.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The global Piezoelectric Devices Market is expected to grow at a CAGR of 7.2% during the forecast period 2023 - 2031.
Increasing Automation in end-use industries is one of the major factors driving the Piezoelectric Devices Market.
The rising in the aerospace industry is anticipated to play a significant role in the global Piezoelectric Devices Market in the coming years.
The leading players operating in the Piezoelectric Devices Market are Aerotech Inc., CeramTec GmbH (B Partners), L3harris Technologies Inc., APC International Ltd, CTS Corporation (Kistler Holding AG), Kistler Instruments India Pvt. Ltd. Piezomechanik Piezosystem Jena GmbH, Mad City Labs Inc., Physik Instrumente (PI) GmbH & Co. and Dr. Lutz Pickelmann GmbH.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Piezoelectric Device Market - By Product
1.3.2 Piezoelectric Device Market - By Material
1.3.3 Piezoelectric Device Market - By Application
1.3.4 Piezoelectric Device Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PIEZOELECTRIC DEVICE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. PIEZOELECTRIC DEVICE MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. PIEZOELECTRIC DEVICE MARKET - GLOBAL MARKET ANALYSIS
6.1. PIEZOELECTRIC DEVICE - GLOBAL MARKET OVERVIEW
6.2. PIEZOELECTRIC DEVICE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PIEZOELECTRIC DEVICE MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. PIEZOELECTRIC SENSORS
7.3.1. Overview
7.3.2. Piezoelectric Sensors Market Forecast and Analysis
7.4. PIEZOELECTRIC ACTUATORS
7.4.1. Overview
7.4.2. Piezoelectric Actuators Market Forecast and Analysis
7.4.3. Stack Actuators Market
7.4.3.1. Overview
7.4.3.2. Stack Actuators Market Forecast and Analysis
7.4.4. Strip Actuators Market
7.4.4.1. Overview
7.4.4.2. Strip Actuators Market Forecast and Analysis
7.5. PIEZOELECTRIC MOTORS
7.5.1. Overview
7.5.2. Piezoelectric Motors Market Forecast and Analysis
7.6. PIEZOELECTRIC TRANSDUCERS
7.6.1. Overview
7.6.2. Piezoelectric Transducers Market Forecast and Analysis
7.7. PIEZOELECTRIC GENERATORS
7.7.1. Overview
7.7.2. Piezoelectric Generators Market Forecast and Analysis
7.7.3. Single-layer Piezoelectric Generators Market
7.7.3.1. Overview
7.7.3.2. Single-layer Piezoelectric Generators Market Forecast and Analysis
7.7.4. Multilayered Piezoelectric Generators Market
7.7.4.1. Overview
7.7.4.2. Multilayered Piezoelectric Generators Market Forecast and Analysis
7.8. OTHERS
7.8.1. Overview
7.8.2. Others Market Forecast and Analysis
8. PIEZOELECTRIC DEVICE MARKET - REVENUE AND FORECASTS TO 2028 - MATERIAL
8.1. OVERVIEW
8.2. MATERIAL MARKET FORECASTS AND ANALYSIS
8.3. PIEZOELECTRIC CRYSTALS
8.3.1. Overview
8.3.2. Piezoelectric Crystals Market Forecast and Analysis
8.4. PIEZOELECTRIC CERAMICS
8.4.1. Overview
8.4.2. Piezoelectric Ceramics Market Forecast and Analysis
8.4.3. Soft Ceramics Market
8.4.3.1. Overview
8.4.3.2. Soft Ceramics Market Forecast and Analysis
8.4.4. Hard Ceramics Market
8.4.4.1. Overview
8.4.4.2. Hard Ceramics Market Forecast and Analysis
8.5. PIEZOELECTRIC POLYMERS
8.5.1. Overview
8.5.2. Piezoelectric Polymers Market Forecast and Analysis
8.6. PIEZOELECTRIC COMPOSITES
8.6.1. Overview
8.6.2. Piezoelectric Composites Market Forecast and Analysis
9. PIEZOELECTRIC DEVICE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. AEROSPACE AND DEFENSE
9.3.1. Overview
9.3.2. Aerospace and Defense Market Forecast and Analysis
9.4. INFORMATION AND COMMUNICATION
9.4.1. Overview
9.4.2. Information and Communication Market Forecast and Analysis
9.5. CONSUMER ELECTRONICS
9.5.1. Overview
9.5.2. Consumer Electronics Market Forecast and Analysis
9.6. AUTOMOTIVE
9.6.1. Overview
9.6.2. Automotive Market Forecast and Analysis
9.7. HEALTHCARE
9.7.1. Overview
9.7.2. Healthcare Market Forecast and Analysis
9.8. OTHERS
9.8.1. Overview
9.8.2. Others Market Forecast and Analysis
10. PIEZOELECTRIC DEVICE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Piezoelectric Device Market Overview
10.1.2 North America Piezoelectric Device Market Forecasts and Analysis
10.1.3 North America Piezoelectric Device Market Forecasts and Analysis - By Product
10.1.4 North America Piezoelectric Device Market Forecasts and Analysis - By Material
10.1.5 North America Piezoelectric Device Market Forecasts and Analysis - By Application
10.1.6 North America Piezoelectric Device Market Forecasts and Analysis - By Countries
10.1.6.1 United States Piezoelectric Device Market
10.1.6.1.1 United States Piezoelectric Device Market by Product
10.1.6.1.2 United States Piezoelectric Device Market by Material
10.1.6.1.3 United States Piezoelectric Device Market by Application
10.1.6.2 Canada Piezoelectric Device Market
10.1.6.2.1 Canada Piezoelectric Device Market by Product
10.1.6.2.2 Canada Piezoelectric Device Market by Material
10.1.6.2.3 Canada Piezoelectric Device Market by Application
10.1.6.3 Mexico Piezoelectric Device Market
10.1.6.3.1 Mexico Piezoelectric Device Market by Product
10.1.6.3.2 Mexico Piezoelectric Device Market by Material
10.1.6.3.3 Mexico Piezoelectric Device Market by Application
10.2. EUROPE
10.2.1 Europe Piezoelectric Device Market Overview
10.2.2 Europe Piezoelectric Device Market Forecasts and Analysis
10.2.3 Europe Piezoelectric Device Market Forecasts and Analysis - By Product
10.2.4 Europe Piezoelectric Device Market Forecasts and Analysis - By Material
10.2.5 Europe Piezoelectric Device Market Forecasts and Analysis - By Application
10.2.6 Europe Piezoelectric Device Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Piezoelectric Device Market
10.2.6.1.1 Germany Piezoelectric Device Market by Product
10.2.6.1.2 Germany Piezoelectric Device Market by Material
10.2.6.1.3 Germany Piezoelectric Device Market by Application
10.2.6.2 France Piezoelectric Device Market
10.2.6.2.1 France Piezoelectric Device Market by Product
10.2.6.2.2 France Piezoelectric Device Market by Material
10.2.6.2.3 France Piezoelectric Device Market by Application
10.2.6.3 Italy Piezoelectric Device Market
10.2.6.3.1 Italy Piezoelectric Device Market by Product
10.2.6.3.2 Italy Piezoelectric Device Market by Material
10.2.6.3.3 Italy Piezoelectric Device Market by Application
10.2.6.4 United Kingdom Piezoelectric Device Market
10.2.6.4.1 United Kingdom Piezoelectric Device Market by Product
10.2.6.4.2 United Kingdom Piezoelectric Device Market by Material
10.2.6.4.3 United Kingdom Piezoelectric Device Market by Application
10.2.6.5 Russia Piezoelectric Device Market
10.2.6.5.1 Russia Piezoelectric Device Market by Product
10.2.6.5.2 Russia Piezoelectric Device Market by Material
10.2.6.5.3 Russia Piezoelectric Device Market by Application
10.2.6.6 Rest of Europe Piezoelectric Device Market
10.2.6.6.1 Rest of Europe Piezoelectric Device Market by Product
10.2.6.6.2 Rest of Europe Piezoelectric Device Market by Material
10.2.6.6.3 Rest of Europe Piezoelectric Device Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Piezoelectric Device Market Overview
10.3.2 Asia-Pacific Piezoelectric Device Market Forecasts and Analysis
10.3.3 Asia-Pacific Piezoelectric Device Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Piezoelectric Device Market Forecasts and Analysis - By Material
10.3.5 Asia-Pacific Piezoelectric Device Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Piezoelectric Device Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Piezoelectric Device Market
10.3.6.1.1 Australia Piezoelectric Device Market by Product
10.3.6.1.2 Australia Piezoelectric Device Market by Material
10.3.6.1.3 Australia Piezoelectric Device Market by Application
10.3.6.2 China Piezoelectric Device Market
10.3.6.2.1 China Piezoelectric Device Market by Product
10.3.6.2.2 China Piezoelectric Device Market by Material
10.3.6.2.3 China Piezoelectric Device Market by Application
10.3.6.3 India Piezoelectric Device Market
10.3.6.3.1 India Piezoelectric Device Market by Product
10.3.6.3.2 India Piezoelectric Device Market by Material
10.3.6.3.3 India Piezoelectric Device Market by Application
10.3.6.4 Japan Piezoelectric Device Market
10.3.6.4.1 Japan Piezoelectric Device Market by Product
10.3.6.4.2 Japan Piezoelectric Device Market by Material
10.3.6.4.3 Japan Piezoelectric Device Market by Application
10.3.6.5 South Korea Piezoelectric Device Market
10.3.6.5.1 South Korea Piezoelectric Device Market by Product
10.3.6.5.2 South Korea Piezoelectric Device Market by Material
10.3.6.5.3 South Korea Piezoelectric Device Market by Application
10.3.6.6 Rest of Asia-Pacific Piezoelectric Device Market
10.3.6.6.1 Rest of Asia-Pacific Piezoelectric Device Market by Product
10.3.6.6.2 Rest of Asia-Pacific Piezoelectric Device Market by Material
10.3.6.6.3 Rest of Asia-Pacific Piezoelectric Device Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Piezoelectric Device Market Overview
10.4.2 Middle East and Africa Piezoelectric Device Market Forecasts and Analysis
10.4.3 Middle East and Africa Piezoelectric Device Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Piezoelectric Device Market Forecasts and Analysis - By Material
10.4.5 Middle East and Africa Piezoelectric Device Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Piezoelectric Device Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Piezoelectric Device Market
10.4.6.1.1 South Africa Piezoelectric Device Market by Product
10.4.6.1.2 South Africa Piezoelectric Device Market by Material
10.4.6.1.3 South Africa Piezoelectric Device Market by Application
10.4.6.2 Saudi Arabia Piezoelectric Device Market
10.4.6.2.1 Saudi Arabia Piezoelectric Device Market by Product
10.4.6.2.2 Saudi Arabia Piezoelectric Device Market by Material
10.4.6.2.3 Saudi Arabia Piezoelectric Device Market by Application
10.4.6.3 U.A.E Piezoelectric Device Market
10.4.6.3.1 U.A.E Piezoelectric Device Market by Product
10.4.6.3.2 U.A.E Piezoelectric Device Market by Material
10.4.6.3.3 U.A.E Piezoelectric Device Market by Application
10.4.6.4 Rest of Middle East and Africa Piezoelectric Device Market
10.4.6.4.1 Rest of Middle East and Africa Piezoelectric Device Market by Product
10.4.6.4.2 Rest of Middle East and Africa Piezoelectric Device Market by Material
10.4.6.4.3 Rest of Middle East and Africa Piezoelectric Device Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Piezoelectric Device Market Overview
10.5.2 South and Central America Piezoelectric Device Market Forecasts and Analysis
10.5.3 South and Central America Piezoelectric Device Market Forecasts and Analysis - By Product
10.5.4 South and Central America Piezoelectric Device Market Forecasts and Analysis - By Material
10.5.5 South and Central America Piezoelectric Device Market Forecasts and Analysis - By Application
10.5.6 South and Central America Piezoelectric Device Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Piezoelectric Device Market
10.5.6.1.1 Brazil Piezoelectric Device Market by Product
10.5.6.1.2 Brazil Piezoelectric Device Market by Material
10.5.6.1.3 Brazil Piezoelectric Device Market by Application
10.5.6.2 Argentina Piezoelectric Device Market
10.5.6.2.1 Argentina Piezoelectric Device Market by Product
10.5.6.2.2 Argentina Piezoelectric Device Market by Material
10.5.6.2.3 Argentina Piezoelectric Device Market by Application
10.5.6.3 Rest of South and Central America Piezoelectric Device Market
10.5.6.3.1 Rest of South and Central America Piezoelectric Device Market by Product
10.5.6.3.2 Rest of South and Central America Piezoelectric Device Market by Material
10.5.6.3.3 Rest of South and Central America Piezoelectric Device Market by Application
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. PIEZOELECTRIC DEVICE MARKET, KEY COMPANY PROFILES
12.1. APC INTERNATIONAL, LTD.
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. CTS CORPORATION
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. HARRIS CORPORATION
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. KISTLER GROUP
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. MIDE TECHNOLOGY CORP
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. MURATA MANUFACTURING CO., LTD
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. OMEGA PIEZO TECHNOLOGIES
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. PHYSIK INSTRUMENTE (PI) GMBH AND CO. KG.
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. PIEZO TECHNOLOGIES
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. PIEZOSYSTEM JENA GMBH
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
1. APC International, Ltd.
2. CTS Corporation
3. Harris Corporation
4. Kistler Group
5. Mide Technology Corp
6. Murata Manufacturing Co., Ltd
7. Omega Piezo Technologies
8. Physik Instrumente (PI) GmbH and Co. KG.
9. Piezo Technologies
10. piezosystem jena GmbH
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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