Voice Coil Motor Market to Witness Comprehensive Growth by 2031

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

WILMINGTON, DELAWARE, UNITED STATES, July 8, 2024 /EINPresswire.com/ -- The global voice coil motor market share is expected to witness considerable growth, owing to increase in demand for linear and rotary in automotive and aerospace solutions, especially in Asia-Pacific and Europe, due to rise in number of precise controlling and oscillatory systems in these regions. 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.

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A 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.

The 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 expected to continue its dominance during the forecast period with a 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.

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Region-wise, Asia-Pacific and Europe hold a significant share of the global voice coil motor market, owing to the presence of prime players in these regions. The increase in the adoption of various end-use industries, such as robotic automation and medical equipment, indicates a sizable potential market in these regions. Moreover, the 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 detailed Voice Coil Motor Market Analysis concerning the 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 provides a brief overview of the 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.

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Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

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Allied Market Research
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