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What Role Electric Vehicles Play in the Growth of Spintronics Market Globally?
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The single biggest cause of such respiratory problems is air pollution caused by the discharge of toxic gases from vehicles and industries. Thus, to deal with the issue, governments in numerous countries are encouraging people to adopt electric vehicles (EV). With the increasing sale of EVs in the coming years, the usage of spintronic sensors would also surge.
As a result, the spintronics market would grow from its value of $362.7 million in 2019 to $12,845.6 million by 2030, at a 34.8% CAGR during 2020-2030 (forecast period).
Such sensors lower the power consumption and enhance the accuracy of operations, by utilizing the tunnel magnetoresistance (TMR) and giant magnetoresistance (GMR) effects.
In EVs, spintronics-based sensors are used to make automobiles more efficient, increase the life of batteries, and predict overloading and breakdowns. EVs majorly utilize angular, position, and linear sensors, based on the TMR technology.
Apart from sensors, spintronics is also used in data storage devices, wherein the spinning motion of the electrons, along with their charge, is leveraged to store information. In general, spintronics devices can be based on semiconductors or metals, wherein metal-based devices are further of the GMR and TMR types.
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Of these, TMR-type metal-based spintronics devices account for the higher adoption, owing to their smaller size and lower power consumption advantage. Additionally, they also offer a better insulating performance than the GMR variants, as they have higher magnetoresistance.
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