The global spintronics market was worth US$ 650 Million in the year 2022 and is expected to reach US$ 1.29 Billion by the year 2032 at a CAGR of 7.1% between 2022 and 2032.
Spintronics is meant to convert extensive data into a small unit of area. This factor is expected to help the spintronic market grow on an invincible note in the forecast period.
Spintronics, as the name suggests, uses an electron’s spinning action for using a magnetic moment linked with it. Moreover, eliminating the need for specialized semiconductors is the factor expected to take the spintronics market by storm in the forecast period.
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The ongoing trend is that key players like Intel, Samsung, Global Foundries, and TSMC have come up with MRAMs (Magnetic Random Access Memory). The basic objective is that of exercising control over the spinning of electrons over longer distances as electronic spins could be coherently moved over 5 meters. The application areas include industrial motors, MRAMs, data storage, and electric vehicles.
At the same time, the fact that the preservation of electron spin coherence post-transfer is challenging can’t be ignored. These days, spintronic devices like magnetic tunnel junctions do face challenges like lower working temperatures. Manufacturers like EURAMET are coming up with novel research initiatives. As such, spintronics technology could combine fundamental parts of magnetic devices with modern-day semiconductor nanoelectronics or microelectronics on a single chip.
Key Takeaways from Spintronics Market
- North America holds the largest market share due to the majority of players being present in the US. The Asia-Pacific holds the second-largest market share due to higher demand for quicker data transmission speeds along with bigger storage capacities.
- The Asia-Pacific holds the second-largest market share due to countries like India, China, Japan, and South Korea going high on spintronics and the scenario is expected to remain unchanged even in the forecast period.
Competitive Analysis
- One of the scientists stationed at Tohoku University of Japan, of late, did develop the smallest magnetic tunnel in the world with high performance.
- An international group of researchers based out of France tabled a new product capable of switching magnetization in magnetic memory almost 100 times quicker as compared to the previous one.
- Renesas Electronic Corporation, in June 2022, did announce the development of circuit technologies for embedded spin-transfer torque magnetoresistive random access memory (STT-MRAM) test chips with read as well as write operations fabricated by making use of a 22-nm process.
- Researchers at the University of Manchester, in February 2022, did improve spin transport characteristics of the nanoscale graphene-based electronic devices. This development has come out of collaboration with Japan as well as intentionally funded students from Mexico and Ecuador. They have thus devised high-quality graphene channels; thereby lessening electronic doping’s interference by conventional 2D tunnel contacts.
- Crocus Technology Inc. recently announced releasing isolated current sensors CT431 and CT 430 with a bandwidth of 1 MHz with not more than 1% total error over the entire temperature range. The customers could thus optimize system design for greater efficiency and petite size due to high-speed and precise operating output.
What does the Report say?
- The research study is based on device type (semiconductor-based spintronics, metallic-based spintronics, and alloy-based spintronics), by application (magnetic sensors, hard disks and MRMs, electric vehicles, quantum computing, and likewise).
- With the growing usage of sensors, digital electronics, and hard drives, the global spintronics market is expected to grow on a fantabulous note in the forecast period.
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Key Segments
By Device Type:
- Semiconductor Based Spintronics
- Metallic Based Spintronics
- Alloy Based Spintronics
By Application:
- Magnetic Sensors
- Hard Disks and MRAMs
- Electric Vehicles
- Quantum Computing
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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