September 06, 2022 08:00 ET | Source: Allied Market Research Allied Market Research

Portland, OR, Sept. 06, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global voice coil motor market amassed revenue of $119.6 million in 2021, and is expected to hit $189.3 million by 2031, registering a CAGR of 4.8% from 2022 to 2031. The market research study provides a detailed analysis of changing industry trends, top-most segments, value chain analysis, key investment business scenarios, regional space, and competitive space. The study is a key information source for giant players, entrepreneurs, shareholders, and owners in generating new strategies for the future and taking steps to enhance their market position. The report displays an in-depth quantitative analysis of the market from 2022 to 2031 and guides investors in allocating funds to the rapidly evolving industry.

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The report offers detailed segmentation of the global voice coil motor market based on driver type, coil type, application, end use verticals, and region. It provides an in-depth analysis of every segment and sub-segment in tables and figures through which consumers can derive a conclusion about market trends and insights. The market report analysis aids organizations, investors, and entrepreneurs in understanding which sub-segments are to be tapped for achieving huge growth in the years ahead.

In terms of the application, the lens focus segment was the largest in 2021, accounting for more than one-third of the overall share of the global voice coil motor market. Moreover, this segment is predicted to retain its dominant position during the forecast timespan. However, the shaker segment is set to record the highest CAGR of 6.1% from 2022 to 2031.

On basis of the driver type, the linear voice coil motor segment held the largest share in 2021, contributing to more than two-thirds of the overall voice coil motor market. Moreover, this segment is predicted to account for the highest market share by 2031. Furthermore, the same segment is also anticipated to record the fastest CAGR of 5.4% during the forecast timeframe. The report also includes segments such as the rotary voice coil motor segment.

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Based on the end use verticals, the IT and Telecom segment held the largest share in 2021, contributing to more than one-third of the global voice coil motor market share. Moreover, this segment is predicted to account for the highest market share by 2031. However, the building and construction segment is expected to register the highest CAGR of 6.2% during the forecast period. The report also analyzes segments such as Aerospace and Defense, Industrial, and Others.

Based on region, the Asia-Pacific contributed toward the highest market share in 2021, accounting for more than two-fifths of the global voice coil motor market share. Furthermore, the Asia-Pacific region is set to contribute majorly toward the global market share in 2031. In addition, the region is predicted to register the fastest CAGR of 5.5% during the forecast timespan. The research also analyzes regions including LAMEA, North America, and Europe.

The report evaluates these major players in the global voice coil motor industry. These players have executed a gamut of major business strategies such as the expansion of regional and customer bases, new product launches, strategic alliances, and joint ventures for expanding product lines across global markets. The market research report supports the performance monitoring of each segment, positioning of each product in respective segments, and the impact of new technology and product innovations on the overall market size. 

 Voice Coil Motor Market Report Highlights

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