Voice Coil Motor Market Expected to Reach $189.3 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Voice Coil Motor Market," The voice coil motor market was valued at $119.60 million in 2021, and is estimated to reach $189.3 million by 2031, growing at a CAGR of 4.8% from 2022 to 2031.

Voice coil motor is an electrical controller that is very sensitive, precise, and effective for demanding applications requiring only small amounts of displacement. These voice coil motors are frequently used in optical or medical equipment where short-stroke, bidirectional linear actuation requires great control.

Rise in popularity of very precise position stages, as well as the widespread usage of high-end speakers and consumer electronics, drives the market growth. Voice coil motors market commercial viability is limited by their high cost and reduced electromagnetic interaction with other electrical components due to magnet leakage. Nevertheless, the growing adoption of various end-use industries, such as in robotic automation and medical equipment, indicates a sizable potential market.

According to voice coil motor industry research, the double break segment was the highest contributor to the market in 2021. The linear voice coil motor segment was the highest revenue contributor to the market and is expectd to continue its dominance during the forecast period with more than average growth rate. Furthermore, the rotary voice coil motor segment is estimated to reach $52.3 million by 2031, at a significant CAGR of 3.3% during the forecast period.

COVID-19 has a major impact on both consumers and the economy. Electronics manufacturing hubs have been temporarily shut down to limit the COVID-19 spread among individuals. This has majorly affected the supply chain of the voice coil motor market by creating a shortage of materials, components, and finished goods. Major players operating in the voice coil motor market are expected to make low R&D cuts, which will allow them to sustain a rich and evolving product portfolio. However, automobile manufacturers are favoring voice coil motors over traditional motors, resulting in increased market growth.

Region-wise, Asia-Pacific and Europe hold a significant share in the global voice coil motor market, owing to the presence of prime players in these regions. Increase in adoption of various end-use industries, such as in robotic automation and medical equipment, indicates a sizable potential market in these regions. Moreover, rise in popularity of very precise position stages, as well as the widespread usage of high-end speakers and consumer electronics in North America and LAMEA is anticipated to drive the voice coil motor market trends in this region.

KEY FINDINGS OF THE STUDY

• The underhung coil segment was the highest revenue contributor to the market, with $80.9 million in 2021, and is estimated to reach $121.0 million by 2031, with a CAGR of 4.2%.
• The shaker segment is estimated to reach $47.0 million by 2031, at a significant CAGR of 6.1% during the forecast period also the detail Voice Coil Motor Market Analysis with respect to aforementioned segment is provided in the report.
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis on Voice Coil Motor Market Growth as well as Voice Coil Motor Market Size.
• The report includes the market share of key vendors and voice coil motor market share analysis.
• The report also provide brief overview about voice coil actuators and voice coil motor camera market as the associated market of the title.

The key players profiled in the report include Allegro Microsystems, Dat Cam Automation, Dura Magnetics Equipment Solutions, Inc., Farnell, H2W Technologies, LG Innotek, Magnetic Innovations, MotiCont, Motion Control Products Ltd., Motran Industries Inc., Physik Instrumente, Precision Econowind, Inc., Sag Harbor Industries, Inc., Sensata Technologies, SMAC Corporation, ST Microelectronics, and Texas Instruments. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition, to expand their foothold in the voice coil motor market.