Spintronics Market Size, Share, Growth, Demand and Forecast 2027
According to the latest report by IMARC Group, titled “Spintronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global spintronics market size reached US$ 658.1 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 879.8 Million by 2027, exhibiting a growth rate (CAGR) of 5.1% during 2022-2027.
Spintronics, or spin electronics, are devices that detect and manipulate the electron spin in solid-state matter. They use spin-charge coupling in metallic systems for quantum and neuromorphic computing. Spintronics consist of magnetic layers to control the spin polarization and generate spin waves to carry current without transferring heat. They are commonly available in metal- and semiconductor-based variants. Metal-based spintronics includes giant magneto resistance-, tunnel magneto resistance-, spin-transfer torque and spin-wave logic-based devices. On the other hand, semiconductor-based variants include spin diode, spin filter and spin field-effect transistors. They are widely used to manufacture memory units, quantum dots, oscillators, lasers and integrated magnetic sensors.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The global spintronics market is primarily driven by the increasing demand for miniaturized microelectronic devices. Spintronics is widely integrated with nanotechnology to produce magnetic memory, stochastic computing and energy harvesting devices for faster data transmission capabilities. Moreover, the widespread product adoption in hybrid and electric vehicles (H/EV) is providing a thrust to the market growth. Spintronics aid in improving the battery performance of the vehicle and providing precise battery consumption estimates. Other factors, including the increasing utilization of spintronics in industrial motors, along with the rising demand for advanced consumer electronics, are anticipated to drive the market toward growth.
Breakup by Type:
- Metal-Based Devices
- Giant Magneto Resistance-Based Device (GMRs)
- Tunnel Magneto Resistance-Based Device (TMRs)
- Spin-Transfer Torque Device
- Spin-Wave Logic Device
- Semiconductor-Based Devices
- Spin Diode
- Spin Filter
- Spin Field Effect Transistor (FETs)
Breakup by Application:
- Magnetic Sensors
- Hard Disks and MRAMs
- Electric Vehicle and Industrial Motor
- Quantum Computing
- RF and Microwave Devices
Breakup by End-Use:
- Consumer Electronics
- IT and Telecom
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Avalanche Technology
- Crocus Technology
- Everspin Technologies Inc
- FUTEK Advanced Sensor Technology Inc
- Intel Corporation
- International Business Machines Corporation
- Merck KGaA
- NVE Corporation
- Spin Memory Inc
- Synopsys Inc
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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