Piezoelectric actuators are electromechanical motors that convert electrical energy into mechanical stress or displacement using the piezoelectric effect. Piezoelectric actuators are known for their precise movement control and hence, are highly used for finely adjusting mirrors, lenses, machining tools and in other equipment. A piezoelectric actuator is also used to control hydraulic valves. It is used as a special purpose motor or small volume pump as well as in other applications that require force or movement. The global piezoelectric actuators market is anticipated to register significant growth over the forecast period, mainly due to the several benefits offered by the piezoelectric actuators, such as cost-effectiveness and reliability. Piezoelectric actuators, with technological innovations, have progressively entered the market and are projected to witness significant growth in the future. Although, piezoelectric actuators do face some challenges. For instance, high voltage is required for the proper functioning of piezoelectric actuators and the distance that an actuator can move is relatively small. Hence, for small movements, piezoelectric actuators require higher voltage, which leads to increase in overall cost of the operation.