Global Voice Coil Motor (VCM) Market by Driver Type (Linear Voice Coil Motor, Rotary Voice Coil Motor), Application (shaker, speaker positioning, lens focus, stage, servo valve, other), End-use Industry (Building & Construction, IT & telecom, Healthcare, Aerospace & Defense, Industrial, Others) and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2030
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.
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.
Attributes |
Details |
Report Title |
Voice Coil Motor (VCM) Market – Global Industry Analysis, Size, Volume, Share, Growth, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2015-2021 |
Forecast Period |
2023–2030 |
Segmentation |
Driver Type (Linear Voice Coil Motor, Rotary Voice Coil Motor), Application (shaker, speaker positioning, lens focus, stage, servo valve, other), End-use Industry (Building & Construction, IT & telecom, Healthcare, Aerospace & Defense, Industrial, Others) |
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered |
ALPS ALPINE CO., LTD, TDK Corporation, MinebeaMitsumi Inc., Sensata Technologies, Inc, JAHWA, Kollmorgen, SMAC Corporation, Thorlabs, Physik Instrumente (PI) GmbH & Co. KG., New Shicoh Motor Co., Ltd, H2W Technologies, Inc., SM Magnetics, Motran, Moticont, Motion Control Products Ltd, Dura Magnetics, DINGS. |
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.
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.
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.
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
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Voice Coil Motor (VCM) Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Voice Coil Motor (VCM) Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Voice Coil Motor (VCM) Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Voice Coil Motor (VCM) Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Voice Coil Motor (VCM) Market Size & Forecast, 2016-2031
4.5.1 Voice Coil Motor (VCM) Market Size and Y-o-Y Growth
4.5.2 Voice Coil Motor (VCM) Market Absolute $ Opportunity
4.6 Global Voice Coil Motor (VCM) Market: Technological Advancements
4.7 Global Voice Coil Motor (VCM) Market: Impact of Key Regulations
4.8 Global Voice Coil Motor (VCM) Market: Pricing Analysis
Chapter 5 Global Voice Coil Motor (VCM) Market Analysis and Forecast By Driver Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Driver Type
5.1.2 Basis Point Share (BPS) Analysis By Driver Type
5.1.3 Absolute $ Opportunity Assessment By Driver Type
5.2 Voice Coil Motor (VCM) Market Size Forecast By Driver Type
5.2.1 Linear Voice Coil Motor
5.2.2 Rotary Voice Coil Motor
5.3 Market Attractiveness Analysis By Driver Type
Chapter 6 Global Voice Coil Motor (VCM) Market Analysis and Forecast By Application
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By Application
6.1.2 Basis Point Share (BPS) Analysis By Application
6.1.3 Absolute $ Opportunity Assessment By Application
6.2 Voice Coil Motor (VCM) Market Size Forecast By Application
6.2.1 Shaker
6.2.2 Lens Focus
6.2.3 Servo Valve
6.2.4 Speaker Positioning
6.2.5 Stage
6.2.6 Others
6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Voice Coil Motor (VCM) Market Analysis and Forecast By End-use Industry
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities By End-use Industry
7.1.2 Basis Point Share (BPS) Analysis By End-use Industry
7.1.3 Absolute $ Opportunity Assessment By End-use Industry
7.2 Voice Coil Motor (VCM) Market Size Forecast By End-use Industry
7.2.1 Building & Construction
7.2.2 IT & telecom
7.2.3 Healthcare
7.2.4 Aerospace & Defense
7.2.5 Industrial
7.2.6 Others
7.3 Market Attractiveness Analysis By End-use Industry
Chapter 8 Global Voice Coil Motor (VCM) Market Analysis and Forecast by Region
8.1 Introduction
8.1.1 Key Market Trends & Growth Opportunities by Region
8.1.2 Basis Point Share (BPS) Analysis by Region
8.1.3 Absolute $ Opportunity Assessment by Region
8.2 Voice Coil Motor (VCM) Market Size Forecast by Region
8.2.1 North America
8.2.2 Europe
8.2.3 Asia Pacific
8.2.4 Latin America
8.2.5 Middle East & Africa (MEA)
8.3 Market Attractiveness Analysis by Region
Chapter 9 Coronavirus Disease (COVID-19) Impact
9.1 Introduction
9.2 Current & Future Impact Analysis
9.3 Economic Impact Analysis
9.4 Government Policies
9.5 Investment Scenario
Chapter 10 North America Voice Coil Motor (VCM) Analysis and Forecast
10.1 Introduction
10.2 North America Voice Coil Motor (VCM) Market Size Forecast by Country
10.2.1 U.S.
10.2.2 Canada
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 North America Voice Coil Motor (VCM) Market Size Forecast By Driver Type
10.6.1 Linear Voice Coil Motor
10.6.2 Rotary Voice Coil Motor
10.7 Basis Point Share (BPS) Analysis By Driver Type
10.8 Absolute $ Opportunity Assessment By Driver Type
10.9 Market Attractiveness Analysis By Driver Type
10.10 North America Voice Coil Motor (VCM) Market Size Forecast By Application
10.10.1 Shaker
10.10.2 Lens Focus
10.10.3 Servo Valve
10.10.4 Speaker Positioning
10.10.5 Stage
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis By Application
10.12 Absolute $ Opportunity Assessment By Application
10.13 Market Attractiveness Analysis By Application
10.14 North America Voice Coil Motor (VCM) Market Size Forecast By End-use Industry
10.14.1 Building & Construction
10.14.2 IT & telecom
10.14.3 Healthcare
10.14.4 Aerospace & Defense
10.14.5 Industrial
10.14.6 Others
10.15 Basis Point Share (BPS) Analysis By End-use Industry
10.16 Absolute $ Opportunity Assessment By End-use Industry
10.17 Market Attractiveness Analysis By End-use Industry
Chapter 11 Europe Voice Coil Motor (VCM) Analysis and Forecast
11.1 Introduction
11.2 Europe Voice Coil Motor (VCM) Market Size Forecast by Country
11.2.1 Germany
11.2.2 France
11.2.3 Italy
11.2.4 U.K.
11.2.5 Spain
11.2.6 Russia
11.2.7 Rest of Europe
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Europe Voice Coil Motor (VCM) Market Size Forecast By Driver Type
11.6.1 Linear Voice Coil Motor
11.6.2 Rotary Voice Coil Motor
11.7 Basis Point Share (BPS) Analysis By Driver Type
11.8 Absolute $ Opportunity Assessment By Driver Type
11.9 Market Attractiveness Analysis By Driver Type
11.10 Europe Voice Coil Motor (VCM) Market Size Forecast By Application
11.10.1 Shaker
11.10.2 Lens Focus
11.10.3 Servo Valve
11.10.4 Speaker Positioning
11.10.5 Stage
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis By Application
11.12 Absolute $ Opportunity Assessment By Application
11.13 Market Attractiveness Analysis By Application
11.14 Europe Voice Coil Motor (VCM) Market Size Forecast By End-use Industry
11.14.1 Building & Construction
11.14.2 IT & telecom
11.14.3 Healthcare
11.14.4 Aerospace & Defense
11.14.5 Industrial
11.14.6 Others
11.15 Basis Point Share (BPS) Analysis By End-use Industry
11.16 Absolute $ Opportunity Assessment By End-use Industry
11.17 Market Attractiveness Analysis By End-use Industry
Chapter 12 Asia Pacific Voice Coil Motor (VCM) Analysis and Forecast
12.1 Introduction
12.2 Asia Pacific Voice Coil Motor (VCM) Market Size Forecast by Country
12.2.1 China
12.2.2 Japan
12.2.3 South Korea
12.2.4 India
12.2.5 Australia
12.2.6 South East Asia (SEA)
12.2.7 Rest of Asia Pacific (APAC)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Asia Pacific Voice Coil Motor (VCM) Market Size Forecast By Driver Type
12.6.1 Linear Voice Coil Motor
12.6.2 Rotary Voice Coil Motor
12.7 Basis Point Share (BPS) Analysis By Driver Type
12.8 Absolute $ Opportunity Assessment By Driver Type
12.9 Market Attractiveness Analysis By Driver Type
12.10 Asia Pacific Voice Coil Motor (VCM) Market Size Forecast By Application
12.10.1 Shaker
12.10.2 Lens Focus
12.10.3 Servo Valve
12.10.4 Speaker Positioning
12.10.5 Stage
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis By Application
12.12 Absolute $ Opportunity Assessment By Application
12.13 Market Attractiveness Analysis By Application
12.14 Asia Pacific Voice Coil Motor (VCM) Market Size Forecast By End-use Industry
12.14.1 Building & Construction
12.14.2 IT & telecom
12.14.3 Healthcare
12.14.4 Aerospace & Defense
12.14.5 Industrial
12.14.6 Others
12.15 Basis Point Share (BPS) Analysis By End-use Industry
12.16 Absolute $ Opportunity Assessment By End-use Industry
12.17 Market Attractiveness Analysis By End-use Industry
Chapter 13 Latin America Voice Coil Motor (VCM) Analysis and Forecast
13.1 Introduction
13.2 Latin America Voice Coil Motor (VCM) Market Size Forecast by Country
13.2.1 Brazil
13.2.2 Mexico
13.2.3 Rest of Latin America (LATAM)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Latin America Voice Coil Motor (VCM) Market Size Forecast By Driver Type
13.6.1 Linear Voice Coil Motor
13.6.2 Rotary Voice Coil Motor
13.7 Basis Point Share (BPS) Analysis By Driver Type
13.8 Absolute $ Opportunity Assessment By Driver Type
13.9 Market Attractiveness Analysis By Driver Type
13.10 Latin America Voice Coil Motor (VCM) Market Size Forecast By Application
13.10.1 Shaker
13.10.2 Lens Focus
13.10.3 Servo Valve
13.10.4 Speaker Positioning
13.10.5 Stage
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis By Application
13.12 Absolute $ Opportunity Assessment By Application
13.13 Market Attractiveness Analysis By Application
13.14 Latin America Voice Coil Motor (VCM) Market Size Forecast By End-use Industry
13.14.1 Building & Construction
13.14.2 IT & telecom
13.14.3 Healthcare
13.14.4 Aerospace & Defense
13.14.5 Industrial
13.14.6 Others
13.15 Basis Point Share (BPS) Analysis By End-use Industry
13.16 Absolute $ Opportunity Assessment By End-use Industry
13.17 Market Attractiveness Analysis By End-use Industry
Chapter 14 Middle East & Africa (MEA) Voice Coil Motor (VCM) Analysis and Forecast
14.1 Introduction
14.2 Middle East & Africa (MEA) Voice Coil Motor (VCM) Market Size Forecast by Country
14.2.1 Saudi Arabia
14.2.2 South Africa
14.2.3 UAE
14.2.4 Rest of Middle East & Africa (MEA)
14.3 Basis Point Share (BPS) Analysis by Country
14.4 Absolute $ Opportunity Assessment by Country
14.5 Market Attractiveness Analysis by Country
14.6 Middle East & Africa (MEA) Voice Coil Motor (VCM) Market Size Forecast By Driver Type
14.6.1 Linear Voice Coil Motor
14.6.2 Rotary Voice Coil Motor
14.7 Basis Point Share (BPS) Analysis By Driver Type
14.8 Absolute $ Opportunity Assessment By Driver Type
14.9 Market Attractiveness Analysis By Driver Type
14.10 Middle East & Africa (MEA) Voice Coil Motor (VCM) Market Size Forecast By Application
14.10.1 Shaker
14.10.2 Lens Focus
14.10.3 Servo Valve
14.10.4 Speaker Positioning
14.10.5 Stage
14.10.6 Others
14.11 Basis Point Share (BPS) Analysis By Application
14.12 Absolute $ Opportunity Assessment By Application
14.13 Market Attractiveness Analysis By Application
14.14 Middle East & Africa (MEA) Voice Coil Motor (VCM) Market Size Forecast By End-use Industry
14.14.1 Building & Construction
14.14.2 IT & telecom
14.14.3 Healthcare
14.14.4 Aerospace & Defense
14.14.5 Industrial
14.14.6 Others
14.15 Basis Point Share (BPS) Analysis By End-use Industry
14.16 Absolute $ Opportunity Assessment By End-use Industry
14.17 Market Attractiveness Analysis By End-use Industry
Chapter 15 Competition Landscape
15.1 Voice Coil Motor (VCM) Market: Competitive Dashboard
15.2 Global Voice Coil Motor (VCM) Market: Market Share Analysis, 2022
15.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
15.3.1 ALPS ALPINE CO., LTD
15.3.2 TDK Corporation
15.3.3 MinebeaMitsumi Inc.
15.3.4 Sensata Technologies, Inc.
15.3.5 JAHWA
15.3.6 Kollmorgen
15.3.7 SMAC Corporation
15.3.8 Thorlabs
15.3.9 Physik Instrumente (PI) GmbH & Co. KG.
15.3.10 New Shicoh Motor Co., Ltd.
15.3.11 H2W Technologies, Inc.
15.3.12 SM Magnetics
15.3.13 Motran
15.3.14 Moticont
15.3.15 Motion Control Products Ltd.
15.3.16 Dura Magnetics
15.3.17 DINGS