How is Increasing Adoption of Advanced Technologies in Automotive Industry Driving Spintronics Market?

A swiftly growing area of research and development which merges electronics and magnetism is spinelectronics. The aim of this technology is to take advantage of the quantum characteristic of electrons, i.e. their spin, for creating new functionalities and devices.

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The devices which make use of this technology are known as spintronic devices. These consist of magnetic layers that serve as analyzers or spin polarizers, separated by non-magnetic layers, which facilitate the transmission of spin-polarized electrons. These devices are being utilized in various applications in a number of industries, which is resulting in their growing demand.

According to a P&S Intelligence report, valued at $362.7 million in 2019, the global spintronics market is predicted to generate revenue of $12,845.6 million by 2030, advancing at a 34.8% CAGR during the forecast period (2020-2030).

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Spintronics devices are of two types -- semiconductor-based and metal-based. Metal-based devices, which come in the tunnel magnetoresistance (TMR) and giant magnetoresistance (GMR) variants, are made by utilizing ferromagnetic films that enable the controlling of the spin of electrons, using an external magnetic field. Since these devices provide high-speed data transfer and consume low energy, their demand was higher in 2019.

Spintronic sensors play an important role when it comes to enhancing the battery performance of a vehicle, by monitoring the battery life and current flow.

As TMR and GMR devices are being utilized, in place of anisotropic magnetoresistance (AMR) sensors and Hall integrated circuits (ICs), for position sensing in vehicles, their demand from the automotive industry is rising.

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GMR and TMR spintronic devices consume less power, in the range of sub mW and ?W, respectively, in electric vehicles, as opposed to Hall ICs and AMR sensors, which consume about 10 mW of energy, while being continuously used.

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This release was published on openPR.