The global linear vibration motor market was valued at USD 1,469.7 Million in 2021 and is projected to reach USD 2,498.0 Million by the year 2027. The market is expected to register a CAGR of 9.2% during the forecast period.
Linear vibration motors or linear resonant actuators are precision vibration motors that can produce an oscillating force across a single axis. The market is expected to be driven by continued growth in the adoption of smart wearables. The increasing adoption of smartphones and high demand for game devices is expected to boost the market growth. However, the low-cost alternative of eccentric rotating mass (ERM) vibration motor is anticipated to hinder the market growth.
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Continued growth in the adoption of smart wearables
Manufacturing smart wearable requires linear vibration motors. These are majorly used for manufacturing smartphones. The rising adoption of smartphones globally is expected to boost market growth. Also, the adoption of smart wearables is increasing due to technological developments by market players. In addition, the number of the connected wearable device is anticipated to grow to more than 1.1 billion in 2022 as the world moves from 4G to 5G. All these factors are estimated to boost market growth.
The global linear vibration motor market is segmented into product types and applications.
By Product Type,
- Moving Magnet Type
- Moving Iron Type
- Moving Coil Type
The moving magnet type is expected to hold the largest market share by value owing to its rising demand in various industries. The moving iron type segment is estimated to grow at a CAGR of 8.2% during the forecast period.
- Game Device
Cellphones are expected to hold the largest share by value of 60% due to the rising demand for cellphones globally. The game device segment is estimated to cross a market volume of about 234 million units by 2027 owing t the rising popularity of game devices across the world.
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On a regional basis, the global Linear vibration motor market is segmented into North America, Europe, Asia Pacific, Middle East, Africa, and South America.
The Asia Pacific region is expected to hold the largest volume share of about 63% owing to the presence of major market players in the region and the rising demand for linear vibration motors. The South American region is anticipated to surpass a market volume of 127.9 million units by 2027. The market in North America and Europe is also anticipated to grow at significant growth rates during the forecast period.
Key players operating in the global Linear vibration motor market include Nidec Corporation, AAC Technologies, Samsung, KOTL, Sanyo, DMEGC, JAHWA, Baolong Electronic Groups, Tekceleo, NPF Motor, Oriental Motor, Jinlong Machinery & Electronics Co., Ltd, Saideep Technology, and Erbessd Instruments Technologies Inc, among others.
The cumulative market share of the seven major players is near about 63%. These market players are engaged in partnerships, new product launches, mergers & acquisitions to strengthen their market presence. For instance, in April 2020, Nidec Corporation an agreement with Secop Austria GmbH for acquiring its Delta production line through its Italy-based subsidiary of Nidec Global Appliance S.r.l and its Austrian company.
The global Linear vibration motor market report provides insights on the below pointers:
- Market Penetration: Provides comprehensive information on the market offered by the prominent players
- Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
- Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Linear vibration motor market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
- Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The global Linear vibration motor market report answers questions such as:
- What is the market size and forecast of the Global Linear vibration motor Market?
- What are the inhibiting factors and impact of COVID-19 on the Global Linear vibration motor Market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the Global Linear vibration motor Market?
- What is the competitive strategic window for opportunities in the Global Linear vibration motor Market?
- What are the technology trends and regulatory frameworks in the Global Linear vibration motor Market?
- What is the market share of the leading players in the Global Linear vibration motor Market?
- What modes and strategic moves are considered favorable for entering the Global Linear vibration motor Market?
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