This chapter provides an exhaustive review of piezoelectric smart materials and their applications for commercialization with the addition of recent research and breakthroughs. Piezoelectric smart materials convert electrical signals into mechanical stresses and vice versa. They are remarkably used in energy harvesting from different processes and diverse human activities. Piezoelectric materials are convenient, readily available, adaptable, and have a speedy recurrence reaction time. Smart piezoelectric actuators embedded into adaptive structures are significant. Recent progress in their applications is evident in the versatile smart wings present in an aircraft, since they correlate with the overall effectiveness. In addition, a wide range of industrial applications, for example, diesel fuel injectors, quick responding solenoids, optical lenses, mechanical technology, vibrational damping, etc., utilize piezoelectric actuators. Further, this chapter aims to address the latest improvements in piezoelectric materials in connection to the realm of nanotechnology.