Newark, Feb. 13, 2023 (GLOBE NEWSWIRE) -- The Spintronics market was estimated at around USD 630 million in 2021, growing at a CAGR of nearly 6.9% during 2022-2030. The market is projected to reach approximately USD 1195 million by 2030.
A new technology called spintronic seeks to maximize memory and computing power while reducing power consumption in next-generation nanoelectronics devices. The degrees of freedom of electrons and/or holes used in these devices can interact with their orbital moments. Mass-storage devices make use of spintronic technology. They are used to fit a lot of data into a tiny space, like memory or a hard drive. The electronics sector, which includes disciplines like spintronic memory, spintronic sensors, oscillators, quantum information processors, and computer architecture, has benefited from recent breakthroughs in spintronic devices. The increase in the use of spintronic devices in numerous end-use sectors, including automotive, IT & telecommunication, and electronics & semiconductors, is the main factor driving the global market for spintronic devices. Additionally, the market is expected to be driven in the coming years by advances in spintronic materials and devices as well as a rise in the use of these components in memory and logic applications.
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Growth Factors
A new type of magnetic memory called MRAMs was recently put into industrial production by a number of significant industry players (Samsung, INTEL, TSMC, and Global Foundries), which has given spintronics a boost in the microelectronics market (Magnetic Random Access Memory). Since individual electron spins can be coherently shifted over a distance of 5 m, controlling the spin of electrons over large distances has proven to be challenging for the industry. Among other end-users covered by the Spintronics Market Analysis, integrated spintronics devices have applications in electric vehicles, MRAM, industrial motors, and data storage.
When compared to toggle MRAM, STT-MRAM offers a considerable reduction in switching energy. It has a high degree of scalability and makes it possible to use higher density memory devices with a perpendicular MTJ and high perpendicular magnetic anisotropy, which offer lengthy data retention, small cell size, higher density, high endurance, and low power. Spin electronics products can address problems with battery life by using less power from portable devices. One of the research areas for the next wave of nanoelectronic devices is spintronic.
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Segmental Overview
Spintronics is further separated into metal-based and semiconductor-based devices based on type. The market for spintronics is dominated by semiconductor-based devices because they have more design options and higher interface resistance than metal-based devices.
Spintronics is further divided into electric cars, commercial motors, data storage, and magnetic sensors based on application. Due to its non-volatile, high-density relative to other applications, electronic vehicles are projected to dominate the spintronics market in the years to come, expanding market potential.
Regional Overview
Due to the presence of numerous Spintronics Market Key Players, North America has dominated the global Spintronics Market and is expected to do so for the foreseeable future. On the other hand, the Asia-Pacific region is anticipated to have the quickest growth throughout the projection period. The Spintronics Market in this region is probably going to increase as a result of the expanding demand for faster data transmission rates and greater storage capacity. North America is one of the top investors and adopters of the studied industry due to the extensive research conducted by local businesses in the spintronics market and the rising use of the technology among local end-user industries. The majority of the principal end-user sectors for the spintronics industry are expanding quickly.
Report Scope
| Base Year | 2021 |
| Forecast period | 2022-2030 |
| Report Coverage | Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Market Size(unit) | USD Billion |
| Spintronics Market CAGR | 6.9% |
| Segments Covered | By Product By Application |
List of the prominent players in the Global Spintronics market:
• Allegro MicroSystems, Inc.
• Avalanche Technology
• Crocus Technology
• Everspin Technologies Inc.
• Infineon Technologies AG
• NVE Corporation
• Qnami
• Spin Memory Inc.
• Synopsys, Inc.
• TDK Corporation
The global Spintronics market is segmented as follows:
By Product
• Metal-based devices and
• Semiconductor-based devices
By Application
• Electric vehicles
• Industrial motors
• Data storage and
• Magnetic sensing
By Region/Geography
• North America
o The U.S.
o Canada
o Mexico
• Europe
o France
o The UK
o Spain
o Germany
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o UAE
o South Africa
o Egypt
o Kuwait
o Rest of the Middle East & Africa
• Latin America
o Brazil
o Argentina
o Rest of Latin America
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