Spintronics Market Driven by Advantages over Conventional Electronics and Increasing Adoption of Electric Vehicles

Market Data Library - MDL
Market Data Library – MDL

The market for spintronics is expected to grow rapidly, reaching a value of $24,058.0 million by 2031 and registering a strong CAGR of 37.1% from 2021 to 2031. Its many benefits over traditional electronics, such as improved data processing abilities, less power consumption, and expanded storage capacity, are to blame for spintronics’ soaring demand. Additionally, the market’s growth trajectory is being fueled by the growing use of electric vehicles (EVs) and the rising need for magnetoresistive random-access memory (MRAM).

The market’s growth trend is further supported by spintronics technology developments and the rising financial and other support from governments around the world. Spintronics is being adopted by a variety of industries, such as the information technology, telecommunications, and automotive sectors. The spintronics market is poised to revolutionise the electronics sector as the demand for effective and high-performance electronic devices continues to soar, providing unmatched prospects for producers, suppliers, and investors alike.

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Global spintronics market will reach $ 24,058.0 million by 2031, growing by 37.1% annually over 2021-2031, driven by the various advantages of spintronics over conventional electronics, the increasing deployment of electric vehicles (EV), a rising demand for magnetoresistive random-access memory (MRAM), the technological advancements along with the increase in government initiatives and investments.

Highlighted with 83 tables and 81 figures, this 153-page report “Global Spintronics Market 2021-2031 by Device Type (Metal-based, Semiconductor-based), Application (EV and Industrial Motor, MRAM, Magnetic Sensing, Semiconductor Laser, Others), Industry Vertical, and Region: Trend Forecast and Growth Opportunity” is based on comprehensive research of the entire global spintronics market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2019-2021 and provides forecast from 2022 till 2031 with 2021 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

In-depth qualitative analyses include identification and investigation of the following aspects:

  • Market Structure
  • Growth Drivers
  • Restraints and Challenges
  • Emerging Product Trends & Market Opportunities
  • Porter’s Fiver Forces

The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify global spintronics market in every aspect of the classification from perspectives of Device Type, Application, Industry Vertical, and Region.

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Based on Device Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

  • Metal-based Devices

o             Giant Magneto Resistance-based Device (GMRs)

o             Tunnel Magneto Resistance-based Device (TMRs)

o             Spin-transfer Torque Device

o             Spin-wave Logic Device

  • Semiconductor-based Devices

o             Spin Diode

o             Spin Filter

o             Spin Field Effect Transistor (FETs)

Based on Application, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

  • Electric Vehicle and Industrial Motor
  • Data Storage/MRAM
  • Magnetic Sensing
  • Semiconductor Laser
  • Other Applications

By Industry Vertical, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

  • Automotive & Transportation
  • IT & Telecommunication
  • Electronics & Semiconductors
  • Manufacturing
  • Healthcare
  • Other Industry Verticals

Geographically, the following regions together with the listed national/local markets are fully investigated:

  • North America (U.S., Canada, and Mexico)
  • Europe (Germany, UK, France, Spain, Italy, Netherlands, Rest of Europe; Rest of Europe is further segmented into Russia, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
  • APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
  • South America (Brazil, Chile, Argentina, Rest of South America)
  • MEA (UAE,Saudi Arabia, South Africa and Rest of MEA)

For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2021-2031. The breakdown of all regional markets by country and split of each national market by Device Type, Application, and Industry Vertical over the forecast years are also included.

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The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.

Selected Key Players:

Advanced MicroSensors Corporation

Atomistix A/S

Avalanche Technology Inc.

Crocus Technology

Everspin Technologies Inc.

IBM Corporation

Intel Corporation

NVE Corporation

Spin Memory Inc.

Synopsys (QuantumWise)

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