Global Voice Coil Motor (VCM) Market is Expected to Reach US$ 6,051.8 Million by 2030

According to a recent market study published by Growth Market Reports, titled, “Global Voice Coil Motor (VCM) Market by Driver Type, Application, End-use Industry and Regions: Size, Volume, Share, Trends and Opportunity Analysis, 2015-2030”, the market was valued at USD 3,272.3 Million in 2022 and is expected to grow at a moderate growth rate of 8.3% by the year 2030. Increasing Demand for Smartphones, increasing use of Fast Quick Actuating Devices, and increasing innovations in medical technology are expected to fuel the market during the forecast period.

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As per Growth Market Reports industry analyst Akash Vedpathak, “Global Voice Coil Motor (VCM) Market” is anticipated to witness significant growth during the forecast period 2023-2030. Key factors that are anticipated to fuel the demand for the Global Voice Coil Motor (VCM) market during the forecast period are the Increasing Demand for Smartphones, increasing use of Fast Quick Actuating Devices, Increasing innovations in medical technology. Conversely, High Cost is anticipated to hamper the growth of the Global Voice Coil Motor (VCM) market. Rising Adoption of Electric Vehicles are expected to create opportunities in the market.

Voice coil motor (VCM) is an electromagnetic device used in various types of electronic equipment such as lens & autofocus in cameras, speakers, hard disks, and others. It is widely used where short travel paths with high acceleration and constant force are required. VCM is set up in two ways. A magnet assembly in a moving magnet configuration enters and exits a fixed coil. A coil assembly in a moving coil configuration enters and exits a fixed permanent magnet. Compared to brushless DC linear motors, the simplicity of the design allows for a more compact factor. Voice coil motors are electrical actuators that are precisely controlled and optimized for applications that require a small amount of displacement. These voice coil motors are highly preferred for their high precision, fast response time, and low power consumption.

The word, ‘supply chain’, refers to all procedures involved in transforming an idea into a tangible good or service, through a series of intermediate production, distribution, and disposal phases. These procedures include production, distribution, design, marketing, and customer support services. In the supply chain process, the value of the product increases as it passes through various stages of the supply chain. The Global Voice Coil Motor (VCM) Market supply chain involves various stakeholders who contribute to the creation and delivery of Global Voice Coil Motor (VCM).

Raw Material:

Raw materials/parts used for manufacturing voice coil motors are shipped to manufacturers to be assembled into the final product. These raw materials are procured from raw material suppliers and stored at warehouses or directly sent to manufacturing sites/plants, where raw materials/parts are further inspected to ensure their quality.

Manufacturers:

Voice Coil Motors are manufactured by performing various steps and processes at manufacturing units. Quality checks are performed throughout the production process by manufacturers to ensure the quality of the product. After manufacturing the Voice Coil Motors, they are packaged and shipped to suppliers or distributors.

Suppliers/Distributors:

Suppliers/Distributors store finished products in large inventories and are mediators in the supply chain. They directly obtain the products from the manufacturers and pass them midstream. Sales, marketing, and merchandising take place in this phase of the supply chain if needed.

End-users:

End-users are the final step of the supply chain, where consumption takes place. The end-users of Voice coil motors are Building & Construction, IT & telecom, Healthcare, Aerospace & Defense, Industrial, and Others.

The primary, as well as secondary research methodology, is used for keen observation and study of the voice coil motor market. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews were conducted with the stakeholders across industry verticals at regular intervals in line with the ongoing studies and to keep ourselves abreast with the latest market trends & developments. Validation of the estimated market size, and current and future trends done by the key opinion leaders (KOLs). These KOLs are the CXO level people from leading companies in the industry and possess experience of around 10-20 years in the industry. On the other hand, the secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights, and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports, and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases were analyzed for macro & microanalysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.

Governments across the globe enforced partial or complete lockdowns during the pandemic, which led to the temporary closure of schools, colleges, institutions, offices, and the suspension of all business activities, except for essential goods and services. COVID-19 had both immediate and long-term effects on various industries. The COVID-19 outbreak had a negative impact on the global voice coil market, due to factors such as a lack of workers, closure of production facilities, and global supply chain disruptions. Governments imposed a lockdown to stop the spread of coronavirus, which led to a significant drop in manufacturing activities. Growth of the voice coil market was hindered during the pandemic, due to the limitations on production operations. Demand for electronic products dropped significantly, and people were also working remotely to maintain social distancing. Declining Investments in infrastructure reduced manufacturing activities and operations resulted in the decline in the market.

Global economic expansion is projected to continue over the forecast period, which is fueled by industrial expansion in developed countries. COVID-19, the escalating trade battles between the US & China, the recent war between Russia & Ukraine, and the resulting ripple impact are expected to cause short-term disruptions in the market. The demand for voice coil motors by the end-use industry is fueled by the rising number of investments in research & development and technological advancement. Furthermore, the consumer electronic sector is expected to expand, due to the rising consumption of products during the forecast period. This, in turn, is expected to provide investment prospects in the global voice coil market in the coming years.

Key Takeaways from the Study:

• In terms of driver type, the global Voice coil motor (VCM) market is segmented into Linear Voice Coil Motor, Rotary Voice Coil Motor.
• Based on the application, the global Voice coil motor (VCM) market is segmented into shaker, speaker positioning, lens focus, stage, servo valve, others.
• Based on the end-use industry, the global voice coil motor (VCM) market is segmented into Building & Construction, IT & telecom, Healthcare, Aerospace & Defense, Industrial, and Others.

Report Scope:

Target Audience:

• Supply-side: Manufacturers, raw material suppliers, and distributors
• Demand Side: Voice coil motor Manufacturers, Government Agencies, Consulting Firms, Private Research and Development Firms, Equity Firms, and Investment Firms.