The global market for piezoelectric devices is estimated to be valued at $25.1 billion in 2019 and projected to expand at a compounded annual growth rate (CAGR) of 6.2% through the next five years. Currently, lead-free piezoelectric ceramics (LFPECs) represent a very small share of this market (an estimated value of $172 million in 2019), but their sales are projected to rise at a CAGR of 20.8% from 2019 to 2024, reaching global revenues of $443 million in 2024.