![]() These technologies are a need amid high market competition across the world. ![]() The overall demand for industrial automation components and digitalization is likely to increase once the industries attain normal operational conditions. This is expected to showcase the benefits of factory automation in the post-lockdown phase, leading to increased adoption. The industry's reliance on human labor has been highlighted by the recent pause in industrial automation and development. ![]() Presently, the US is the world's worst-affected country due to the COVID-19 outbreak. Hence, any hinderance on the growth of the industrial sector hampers the economic growth of the region. North America is one of the leading regions in terms of the development and adoption of new technologies owing to the favorable government policies that boost innovation and strengthen the infrastructure capabilities. In 2020, Asia Pacific (APAC) accounted for the significant share in the global market. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. In 2020, the industrial and manufacturing segment accounted for the substantial share of the market. In terms of application, the piezoelectric actuators and motors market is segmented into automotive, industrial and manufacturing, medical, aerospace, consumer electronics, and other applications. The piezo actuators segment represented a larger share of the overall market in 2020. Based on product, the market is bifurcated into piezo motors and piezo actuators. The piezoelectric actuators and motors market is segmented on the basis of product, application, and geography. Hence, the aforementioned factors are expected to boost the demand for piezoelectric actuators and motors during the forecast period. Which means that piezoelectric is the most efficient technology for high-definition haptic solutions and offers lucrative opportunities for the market growth. ![]() In addition, piezo actuators are more power efficient and provides haptic solutions with less power consumption than ERM and LRA technology. ![]() At present, there are three mainstream technologies in haptic - eccentric rotating mass (ERM) motor, linear resonant actuator (LRA), and piezoelectric.Īmong the mentioned technologies, piezoelectric technology holds the edge over the rest, owing to its mechanical advantages such as faster response time, greater acceleration, and smaller size. Haptic technology involves enabling an electronic device to stimulate the human sense of touch by allowing humans to feel motion, vibration, or movement. With the integration of piezoelectric actuators with haptic technology, the applications of piezo actuators have been increased in electronics and semiconductors devices. The global piezoelectric actuators and motors market is expected to grow from US$ 14547.86 million in 2021 to US$ 24,752.20 million by 2028 it is estimated to grow at a CAGR of 7.9% during 2021-2028. 11, 2022 (GLOBE NEWSWIRE) - The "Global Piezoelectric Actuators and Motors Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Piezo Motors and Piezo Actuators), Application, and Geography" report has been added to 's offering. ![]()
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