IMARC Group, a leading market research company, has recently released a report titled “Spintronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.” The study provides a detailed analysis of the industry, including the global spintronics market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What Are The Growth Prospects Of The Spintronics Industry?
According to the report, 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.
What is Spintronics?
Spintronics is an emerging technology exploiting the intrinsic spin of electrons and their associated orbital moment in solid-state devices. It relies on various metal-based devices, such as tunnel magneto resistance-based (TMRS), giant magneto resistance-based (GMRS), spin-wave logic devices, and spin-transfer torque. It is applied to semiconductors, magnetic multilayers, and mass-storage devices that use the spin of electrons to carry information. It finds extensive application in electric vehicles (EVs), industrial motors, and magnetic sensing systems.
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What are the growth prospects and trends in the Spintronics industry?
The escalating demand for hybrid and electric vehicles (EVs) across the globe represents one of the key factors strengthening the growth of the market. It can also be attributed to the assistance of spintronics in detecting the remaining battery capacity accurately and checking the charge and discharge condition to enhance the overall performance of vehicles. In addition, technological advancements and changing requirements of individuals are intensifying the competition among electronics and semiconductors industry players. Moreover, increasing investments by leading market players in research and development (RD) activities are expected to drive the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
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
- Others
Breakup by End User:
- Automotive
- Consumer Electronics
- Healthcare
- IT and Telecom
- Others
Market 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
Who are the key players operating in the industry?
The report covers the major market players including:
- 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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