Spintronics Market by Type Metal-based Devices and Semiconductor-based Devices, By Application Data Storage/MRAM, Magnetic Sensing) - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2023-2032
Report Description
The global Spintronics market size was valued at USD 800.7 million in 2023, expanding at a CAGR of 35.8% from 2023-2032 to reach 4,908.7 Million USD in 2032.
Market Dynamics
The spintronics business is still in its infancy, and a sizable chunk still relies heavily on technological advancements and research. Additionally, statewide lockdowns and global manufacturing closures during the initial stage of COVID-19 had an impact on the market's supply side. However, the scenario broadened the study's focus on the market because demand for and use of cloud computing in sectors like data centers skyrocketed. The most recent developments in spintronics technology rely on nanometric thin film structures with perpendicular magnetic anisotropy, where the spin currents are used to generate variations in the magnetization of a magnetic layer. This phenomenon, known as spin-orbit torque (SOT), can be enhanced by designing multilayer stacks with alternate layers of magnetic and non-magnetic metals.
The future is likely to witness the replacement of conventional electronic devices with spintronics-based ones that offer superior performance while consuming much lower power. Spintronic devices take advantage of the spin or angular momentum of stationary electrons, as opposed to electronic devices which utilize the movement of electrons for communication and energy. This results in reduced energy consumption for memory and computing tasks. By highlighting developments in materials, systems, and devices that can maintain and improve storage, require low power, and have increased the computational capacity of current ICs, the scope of spintronics is anticipated to expand as a result of the global semiconductor industry's consistent investments in developing future technologies. A US-based data storage company called Seagate Technology has studied spintronic memristors. Transistors based on spintronics may eventually replace electronic circuit boards. Spintronics, one of the rapidly growing subfields of nanotechnology, is one such area.
Regional Insights
In 2023, due to the extensive research conducted by regional businesses and the growing acceptance of technologies among regional end-user industries, North America is one of the leading investors and adopters in the examined industry. The majority of the key spintronics market end-user industries are making rapid strides in the area, which will allow suppliers to grow significantly over the projection period. For instance, the region is experiencing considerable growth in sectors like data centers, server RAID, industrial automation and IoT, and telecom infrastructure, which is generating demand for cutting-edge technologies like spintronics. Additionally, the majority of global market vendors are situated in the US, giving the region a significant competitive edge and ensuring its leadership in industry innovation.
Segment Dynamics
The Spintronics market is fragmented into the type and application segments. Based on the type, the metal-based devices segment is anticipated to dominate the market. By application, the data storage segment is projected to grow at the highest CAGR during the forecast period.
Competitive Insights
The Spintronics market is highly competitive in nature with the presence of local & international players. Major players in the industry engage in strategic mergers & acquisitions, partnerships, and new product launches to remain competent in the market. For example, on June 21, Micross Components announced the expansion of its exclusive partnership with Avalanche Technology, the leader in next-generation MRAM Technology
The report begins with an overview of the Industry Chain structure, and describes the industry environment, then analyses the market size and forecast of Spintronics by type, region, and application. In addition, this report introduces the market competition situation among the vendors and company profile, market price analysis, and value chain features are covered in this report.
Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products etc.):
- NVE Corporation
- IBM
- Synopsys, Inc.
- Crocus Technology
- Intel Corporation
- Everspin Technologies, Inc.
- Spin Memory Inc.
- Avalanche Technology
- Merck KGaA
Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Metal-based Devices
- Semiconductor-based Device
Application Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):
- Data Storage/MRAM
- Magnetic Sensing
- Others
Region Coverage (Regional Consumption, Demand & Forecast by Countries etc.):
- North America (U.S., and Canada)
- Europe (Germany, U.K., France, Italy, Spain etc.)
- Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
- South America (Brazil, Mexico, Argentina etc.)
- Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa etc.)
Table Of Content
TABLE OF CONTENT
1. Spintronics Market Overview
1.1. Product Overview and Scope of Spintronics
1.2. Global Market Growth Prospects and Revenue Estimates
1.3. Global Spintronics Market Size Growth Rate Analysis by Type, 2023 VS 2032
1.3.1. Metal-based Devices
1.3.2. Semiconductor-based Device
1.4. Global Spintronics Consumption Comparison by Application: 2023 VS 2032
1.4.1. Data Storage/MRAM
1.4.2. Magnetic Sensing
1.4.3. Others
1.5. Global Spintronics Market Size Estimates and Forecasts by Region: 2023 VS 2032
1.5.1. North America Spintronics Estimates
1.5.2. Europe Spintronics Estimates
1.5.3. China Spintronics Estimates
1.5.4. Japan Spintronics Estimates
2. Market Competition by Manufacturersas
2.1. Global Spintronics Revenue Market Share by Manufacturers (2020)
2.2. Spintronics Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.3. Global Spintronics Average Price by Manufacturers (2017-2023)
2.4. Manufacturers Spintronics Production Sites, Area Served, Product Types
2.5. Spintronics Market Competitive Situation and Trends
2.5.1. Spintronics Market Concentration Rate
2.5.2. Mergers & Acquisitions, Expansion
3. Global Spintronics Consumption by Region (2017-2023)
3.1. Global Spintronics Consumption by Region
3.2. Global Spintronics Consumption Market Share by Region
3.2.1. North America
3.2.2. North America Spintronics Consumption Growth Rate (2017-2023)
3.2.3. North America Spintronics Consumption, Price and Gross Margin (2017-2023)
3.2.4. North America Spintronics Consumption by Country
3.2.4.1. U.S.
3.2.4.2. Canada
3.2.5. Europe
3.2.6. Europe Spintronics Consumption Growth Rate (2017-2023)
3.2.7. Europe Spintronics Consumption, Price and Gross Margin (2017-2023)
3.2.8. Europe Spintronics Consumption by Country
3.2.8.1. Germany
3.2.8.2. U.K.
3.2.8.3. France
3.2.8.4. Italy
3.2.8.5. Spain
3.2.9. Asia Pacific
3.2.10. Asia Pacific Spintronics Consumption Growth Rate (2017-2023)
3.2.11. Asia Pacific Spintronics Consumption, Price and Gross Margin (2017-2023)
3.2.12. Asia Pacific Spintronics Consumption by Country
3.2.12.1. China
3.2.12.2. India
3.2.12.3. Japan
3.2.12.4. Indonesia
3.2.12.5. Malaysia
3.2.12.6. Australia
3.2.12.7. South Korea
3.2.13. South America
3.2.14. South America Spintronics Consumption Growth Rate (2017-2023)
3.2.15. South America Spintronics Consumption, Price and Gross Margin (2017-2023)
3.2.16. South America Spintronics Consumption by Country
3.2.16.1. Brazil
3.2.16.2. Mexico
3.2.16.3. Argentina
3.2.17. Middle East and Africa
3.2.18. Middle East and Africa Spintronics Consumption Growth Rate (2017-2023)
3.2.19. Middle East and Africa Spintronics Consumption, Price and Gross Margin (2017-2023)
3.2.20. Middle East and Africa Spintronics Consumption by Country
3.2.20.1. Saudi Arabia
3.2.20.2. Kuwait
3.2.20.3. UAE
3.2.20.4. South Africa
4. Global Spintronics Consumption by Type (2017-2023)
4.1. Global Spintronics Price by Type (2017-2023)
4.2. Global Spintronics Revenue Market Share by Type (2017-2023)
4.2.1. Metal-based Devices
4.2.2. Semiconductor-based Device
5. Global Spintronics Consumption by Application (2017-2023)
5.1. Global Spintronics Price by Application (2017-2023)
5.2. Global Spintronics Revenue Market Share by Application (2017-2023)
5.2.1. Data Storage/MRAM
5.2.2. Magnetic Sensing
5.2.3. Others
6. Key Companies Profiled
6.1. IBM
6.1.1. IBM Spintronics Corporation Information
6.1.2. IBM Spintronics Product Portfolio
6.1.3. IBM Spintronics Consumption, Price and Gross Margin (2017-2023)
6.1.4. IBM Main Business and Markets Served
6.1.5. IBM Recent Developments/Updates
6.2. NVE Corporation
6.3. Synopsys, Inc.
6.4. Crocus Technology
6.5. Intel Corporation
6.6. Everspin Technologies, Inc.
6.7. Spin Memory Inc.
6.8. Avalanche Technology
6.9. Merck KGaA
7. Marketing Channel, Distributors and Customers
7.1. Marketing Channel
7.2. Spintronics Distributors List
7.3. Spintronics Customers
8. Market Dynamics
8.1. Spintronics Industry Trends
8.2. Spintronics Growth Drivers
8.3. Spintronics Market Challenges
8.4. Spintronics Market Restraints
9. Global Spintronics Consumption and Demand Forecast, by Region (2023-2032)
9.1. Global Forecasted Demand Analysis of Spintronics, by Regions and Country
9.1.1. North America Forecasted Consumption of Spintronics by Country
9.1.2. Europe Market Forecasted Consumption of Spintronics by Country
9.1.3. Asia Pacific Market Forecasted Consumption of Spintronics by Region
9.1.4. Latin America Forecasted Consumption of Spintronics by Country
9.1.5. Middle East and Africa Forecasted Consumption of Spintronics by Country
10. Global Spintronics Consumption and Demand Forecast, by Type Segments (2023-2032)
10.1. Global Forecasted Consumption of Spintronics by Type Segments (2023-2032)
10.2. Global Consumption and Price Forecast by Type Segments (2023-2032)
10.3. Global Forecasted Growth Rate of Spintronics by Type Segments (2023-2032)
11. Global Spintronics Consumption and Demand Forecast, by Application Segments (2023-2032)
11.1. Global Forecasted Consumption of Spintronics by Application Segments (2023-2032)
11.2. Global Consumption and Price Forecast by Application Segments (2023-2032)
11.3. Global Forecasted Growth Rate of Spintronics by Application Segments (2023-2032)
12. Research Finding and Conclusion
13. Methodology and Data Source
13.1. Methodology/Research Approach
13.1.1. Research Programs/Type
13.1.2. Market Size Estimation
13.1.3. Market Breakdown and Data Triangulation
13.2. Data Source
13.2.1. Secondary Sources
13.2.2. Primary Sources
13.3. Author List
13.4. Disclaimer
Research Methodology
Our research studies are primarily performed in five phases which include Secondary Research, Primary Research, Subject Matter Expert Advice, Quality Check, and Final Review. The process opted for conducting thorough research to make authentic business reports is briefly described below-
Secondary Research-
- Based on the understanding of requirements, we conducted secondary research to identify the Segment specifications, qualitative and quantitative data along with the factors responsible for the growth of the market.
- The secondary sources referred for the study include press releases, company annual reports, and research papers related to the industry.
- Various sources such as industry magazines, trade journals, government websites, and associations were also reviewed for gathering precise analysis on opportunities for business expansions in the market.
- Moreover, quantitative as well as qualitative data were also extracted from paid databases, which included Reuters, Factiva, Bloomberg, One Source, and Hoovers, which proved to be useful for in-depth technical study of the market.
Primary Research-
- The research carried out during the desk research was verified by primary interviews. Primary research was scheduled with a number of industry experts for conducting telephonic interviews, and also our team send questionnaires through their official emails.
- The secondary data collected was then verified by various industry participants which included Segment managers, marketing managers, VPs, CEOs, purchasing managers, subject matter experts.
- An interview with the mentioned participants aids invalidation of our research findings regarding the Segment.
- It helps in the provision of first-hand data on factors such as market size, growth, regional trends, market trends, and competition in the industry. This approach makes our findings precise in order to help our clients in strategic decision-making processes.
Subject Matter Advice-
- The secondary and primary research key findings were then validated by the in-house subject matter experts having extensive experience in the market research industry.
- Specific requirements of the clients were reviewed by the experts to check for completion of the market study. Experts help in channelizing the representation skills of the analyst in terms of providing data that can be easily understood by our customers.
Quality Check-
- The analysis done by the research team was further reviewed to check for data accuracy provided to suit the clients’ specific requirements.
- This revision was done in various phases to check the data authenticity and to remove negligible errors in the final compilation.
Final Review-
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