Spintronics Market Business Report 2020 due to COVID-19 Impact | Key Players are Everspin Technologies Inc., NVE Corporation, Spin Memory Inc., Crocus Technology

Due to the increasing deployment of electric vehicles (EV) across the globe and rising demand for magnetoresistive random-access memory (MRAM), the global spintronics market is expected to register a revenue of $12,845.6 million by 2030. The market was valued at $362.7 million in 2019, from where it is predicted to witness a CAGR of 34.8% during the forecast period (2020–2030). Spintronics refers to the use of the intrinsic spin of the electron, along with its charge and the related magnetic moment, in solid-state devices.

Major players operating in the market -
1. Everspin Technologies Inc.
2. NVE Corporation
3. Spin Memory Inc.
4. Crocus Technology
5. Synopsys Inc.
6. ams AG
7. IBM Corporation
8. Avalanche Technology
9. Merck KGaA
10. Samsung Electronics Co. Ltd.

The rising demand for MRAMs is one of the key factors driving the progress of the spintronics market. MRAM can be defined as a non-volatile memory technology, which employs electron spinning for reversing the magnetization of a layer. This allows for the storing of the data in the memory, using electrical current. Unlike conventional RAMs, the MRAM has the ability to retain the data even when there is no power. It also has the ability to display high transfer speeds and consume less power.

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Market Segmentation by Device Type
Metal-Based
Giant Magnetoresistance (GMR)
Tunnel Magnetoresistance (TMR)
Semiconductor-Based
Spin diode
Spin filter
Spin field-effect transistor (FET)

Market Segmentation by Application
Magnetic Sensor
Magnetoresistive Random-Access Memory (MRAM)
Radio Frequency (RF) and Microwave Devices

Market Segmentation by End User
Automotive
Industrial
Consumer Electronics
Healthcare
Information Technology (IT) & Telecom
Others (Including Transportation; Banking, Financial Services, & Insurance [BFSI]; Media & Entertainment; Logistics; and Aerospace & Defense)

The major trend being witnessed in the spintronics market is the ongoing developments in the field of spin-transfer torque magnetoresistive random-access memory (STT-MRAM). In this new type of MRAM, STT magnetic tunnel junction (STT-MTJs) is adopted in order to reverse the electron spin through spin-polarized current. Owing to the advantages of this technology in providing scalability, in terms of memory density, STT-MRAMs are witnessing a growing demand across the world.

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Globally, North America had the largest share in the spintronics market, in terms of both revenue and volume, during the historical period (2014–2019). This is primarily ascribed to the skyrocketing popularity of cloud in the region, as a result of which MRAM is finding increasing use in various cloud computing applications. Due to the mushrooming demand for cloud storage, IoT, EVs, and autonomous vehicles, Asia-Pacific (APAC) is expected to record the fastest growth, in terms of revenue, during the forecast period.

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Thus, it can be concluded that the market, on account of the surging demand for MRAMs and EVs, will progress at a rapid rate in the coming years.

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This release was published on openPR.