Voice Coil Motor (VCM) Market Size, Share & Analysis | 2030

Report Description

Voice Coil Motor (VCM) Market Market Outlook:

The global Voice Coil Motor (VCM) market was valued at USD 3,272.3 Million in 2022 and is expected to reach USD 6,051.8 Million in 2030, expanding at a CAGR of 8.3% during the forecast period. The overall incremental opportunity is estimated to be USD 2779.6 million from 2022 to 2030.

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.  Increasing use of high-precision positioning stages and growing adoption of consumer electronics and sophisticated speakers are expected to drive the market growth during the forecast period.

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Macro-economic Factors

R&D Activities

Increasing investments from key players in R&D activities and rising focus on product innovations are contributing to the growth of the global voice coil motor market. R&D activities are focused on the efficiency and reliability of the voice coil motor performance. Researchers are developing designs for voice control motors that offer high performance in terms of power consumption, accuracy, and speed.

Additionally, new magnetic materials are being explored for voice control motors that require electromagnetic force for improved strength and stability. Key market players are focusing on producing compact sizes of VCMs that offer high performance in compact designs. Moreover, the demand for the miniature size of voice control motors is increasing. VCMs are integrated with various technologies, such as sensors and microprocessors.

Technological Advancement

In recent years, advancements in the VCM market for better precision, efficiency, and accuracy of VCM has resulted in high demand for VCMs. Voice coil motor devices require a magnetic field. This requires the usage of rare magnets that have high strength and durability. Moreover, these magnets help in generating portable and compact sizes of voice coil motors.

The rising demand for precision manufacturing techniques such as laser cutting and precision assembly in the manufacturing units for efficiency is rising. These advancements in voice coil motors enable them to be manufactured with tight tolerances and performance, ensuring consistency and minimizing vibration and noise.

The development of advanced algorithms and sensors has led to improvements in voice coil motors. This helps in achieving high accuracy and precision. Moreover, the sensors provide real-time accuracy and precision. Advancements in voice control motors aim at improving performance, efficiency, and accuracy.

Market Dynamics

Market Driver- Rising Demand for Smartphones

The growing demand for smartphones is propelling the growth of the voice coil motor market, as voice coil motors are used in smartphones for camera autofocus and picture stabilization. Rising affordability of devices, the rapid pace of technical development, and the increasing dependency on mobile devices for a variety of activities such as entertainment, communication, and productivity result in the steady rise in the demand for smartphones over the years.

Modern smartphones have an important feature called camera focusing, which enables users to capture clear and sharp videos and photos without the need for manual adjustment. VCMs are used in the autofocus systems of smartphone cameras for adjusting the focus distance and moving the lens elements based on the distance and position of the object from the camera.

This confirms the focus and generates high-quality photos and videos. VCMs are used in image stabilization systems for reducing the impact of camera shakes on the quality of an image.

Market Driver- Increasing use of Fast Quick Actuating Devices

A high level of precision has become an absolute necessity for positioning systems over the past few years, due to the development in various industries. Rising demand for high reliability and fast quick actuating devices, as well as rising use for precise motion applications are some of the major factors responsible for driving the market growth.

The demand for VCMs from closed-loop positioning applications is increasing, due to their properties including mobility, a low mechanical & electrical time constant, and low moving masses that allow for high acceleration by light payloads. The VCM has minimal electromagnetic interaction with other types of electronic equipment and helps in reducing magnet leakage. Furthermore, the demand for VCMs is rising, due to the growing investments in the robotics and medical industries.

Market Driver- Increasing innovations in medical technology

Voice coil motors (VCMs) are extensively used in a variety of medical devices, including surgical robots, infusion pumps, ultrasound equipment, and magnetic resonance imaging (MRI) machines. The need for reliable, effective, and accurate VCMs is rising, due to the repaid development in medical technology, which is fueling the market growth.

For instance, MRI machines use radio waves and powerful magnets for generating an image of internal body structures. In MRI, VCMs are used for controlling the gradient coils and the patient table, which create the magnetic field gradients required for imaging.

Developments in MRI technology, including fast imaging speeds and high magnetic field strengths, need VCMs that work at high frequencies with high accuracy and precision. For instance, Maxon has launched a new VCM in 2021. This new VCM is specially designed for medical devices and it operated in high magnetic fields without affecting the quality of the MRI image.

Market Restraint- High Cost

The high cost of VCMs, as compared to other motors, is one of the major factors hampering the market growth. There are various factors responsible for the high cost of VCMs such as precise components, complicated design, and high-performance requirements of VCMs. These factors limit the use of VCMs in various applications and make them less attractive to customers who are concerned about the price. VCMs are majorly designed for applications that need fast, accurate, and precise motion control.

These applications need reliable and high-quality components, which increases the cost of VCMs. VCMs are used in the aerospace industry for many applications including avionics, radar systems, and flight control systems for ensuring the reliability and safety of the aircraft. Depending on the specifications, size, needs, and performance standards, high-performance VCMs utilized in aerospace applications have a wide price range.

Many aircraft manufacturers find this price prohibitive, majorly those who have restricted budgets or limited resources. Expensive VCMs are also negatively impacting their adoption in other industries such as robotics, where VCMs are used in applications such as prosthetic devices, robotic arms, and surgical tools.

VCMs are majorly produced in small quantities that raises the per-unit cost of production, as the fixed costs related to development, tooling, and testing are spread over a small number of units. Moreover, VCMs frequently need to be customized to fit the unique requirements of each application, which increase the cost. This customization includes changes in shape, size, and performance, along with the integration of various features such as sensors or feedback control.

Market Opportunity- Rising Adoption of Electric Vehicles

Increasing adoption of electric vehicles is expected to drive the market growth in the coming years, as it provides substantial opportunity for VCM manufacturers. Furthermore, major manufacturers of EVs including Tesla, Porsche, BMW, Toyota, Chevrolet, Audi, and Nissan are spending on VCM technology to improve the efficiency and performance of EVs.

For instance, in 2021, General Motors (GM) announced the investment of around USD 35.0 billion in autonomous vehicle development and EVs by 2025. This investment includes spending on EVs including the development of a novel VCM for its Ultium Drive Electric Motor.

VCMs are used in active suspension systems, electric power steering systems, and regenerative braking systems of electric vehicles for reducing energy consumption and providing precise control compared to traditional hydraulic power steering systems. Hence, the need for VCMs is anticipated to rise during the forecast period, as the demand for electric vehicles is continuously rising. For instance, Porsche uses VCMs in the Taycan model for controlling the position of the rear spoiler.

It allows precise and quick adjustment of spoilers that helps in improving the aerodynamics of the cars. VCMs are widely used by Tesla in its electric vehicles. In ,2012 Tesla launched the Model S, which uses VCM for precise and quick closing and opening of the charging port.

Scope of the Report

The report on the global Voice Coil Motor (VCM) market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Segmental Outlook

The Global voice coil motor (VCM) market is segmented on the basis of Driver Type, Application, End-use industry, and regions.

In terms of Driver Type, the voice coil motor (VCM) market is segmented into Linear Voice Coil Motor, Rotary Voice Coil Motor. The Rotary Voice Coil Motor segment is projected to hold a substantial share of the market in 2022, due to precise circular motion over short angles.

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Based on the Application, the voice coil motor (VCM) market is segmented into shaker, speaker positioning, lens focus, stage, servo valve, other. The Shaker segment is projected to hold a substantial share of the market in 2022, owing to the increasing demand for precision, and low power consumption.

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. The IT & telecom segment is estimated to expand at a significant CAGR during the forecast period, owing to its high usage in efficient communications and technological advancements.

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Regional Outlook

Based on regions, the voice coil motor market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in the Asia Pacific is projected to expand at a significant CAGR during the forecast period. The market in Asia Pacific is projected to expand at a significant CAGR during the forecast period. The region is expected to continue its dominance in the coming years, owing to the growing demand for consumer electronics in the region.

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Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global Voice coil motor (VCM) market
• Historical, Current and Projected Market Size in terms of Value and Volume
• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
• Industry Drivers, Restraints and Opportunities Covered in the Study
• Recent Industry Trends and Developments
• Competitive Landscape & Strategies of Key Players
• Neutral Perspective on Global Voice coil motor (VCM) Market Performance