Press release
Global Spintronics Market Technology Advancement, Expert Reviews And Analysis By 2026
The Global Spintronics Market Report provides a study with an in-depth overview, describing the product/industry scope and elaborates market outlook and status (2021-2026). The report is curated after in-depth research and analysis by experts. The report provides comprehensive valuable insights on the global Spintronics market development activities demonstrated by industry players, growth opportunities, and market sizing with analysis by key segments, leading and emerging players, and geographies.The Global Spintronics Market was valued at USD 303.8 million in 2020, and it is projected to be worth USD 4,558.5 million by 2026, registering a CAGR of 50.4%, during the period 2021-2026
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Top Companies in the Global Spintronics Market: NVE Corporation, Everspin Technologies Inc., Spin Memory Inc., Crocus Technology, Synopsys (QuantumWise), Avalanche Technology
Industry News:
- October 2020- NVE Corporation introduced two new devices that bring powerful sensing capabilities to design engineers. The companies new AKT001-14E is an analog magnetometer sensor for precise sensing of magnetic fields up to a magnitude of 1.5 tesla. It employs NVEs tunneling magneto resistive technology to accomplish the remarkable field range considering its low power requirement and small size.
Key Market Trends
Electric Vehicle and Industrial Motor to Hold Significant Market Share
- One of the prominent applications of spintronics is in electric vehicles (EVs). This is primarily attributed to the crucial role played by spintronics sensors in enhancing the battery performance of the EV. Without an exact measurement of the remaining battery capacity, reliable information on the remaining distance that can be traveled will be hard to determine. Moreover, enhancing the precision of battery monitoring enables the ability to check the charge and discharge condition of the battery, which is essential to calculate the remaining battery capacity, and prevents conditions that deteriorate the battery cell, thereby providing increased battery life.
- According to Consors Finanz Automobile Barometer 2019, 69% of consumers in Germany decide against buying an electric vehicle because they expect the battery to run out while driving on the road. To avoid such instances, automakers and transportation infrastructure companies offer services such as showcasing precise battery consumption estimates and providing information about service and parking areas where such vehicles can charge the battery. These efforts will increase as EVs spread, and the electricity supply infrastructure witnessed considerable development in the future. These factors are poised to significantly increase the usage of spintronic devices such as TMR sensors in electric vehicles.
Segment by Type
Spin Diodes
Spin Field Effect Transistors (FETs)
Spin Filters
Spin-Transfer Torque Devices
Spin-Wave Logic Devices
Others
Segment by Application
Electric Vehicles
Industrial Motors
Data Storage
Magnetic Random Access Memory (MRAM)
Magnetic Sensing
Semiconductor Lasers
Magnetic Tunnel Transistors
Others
Regional Analysis:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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United States Expected to Hold a Dominant Market Share
- A significant rise in the demand for electric vehicles has been observed in the country, owing to energy and environmental concerns, driving the market for spintronics, which are integrated in electric vehicles.
- The rapid decline in battery costs, rising commitment from major car makers, strong policy support from state and local governments, and low operational costs have put electric vehicles (EVs) on track to overtake gasoline-powered vehicles in the near future, owing to which the country will witness a significant demand for spintronics technology.
- Moreover, in the United States, a wealth of private-sector businesses, academic institutions, and federal research-and-development laboratories are specifically focused on the advancement of MEMS and nanotechnology.
- The Institute for Soldier Nanotechnologies at the Massachusetts Institute of Technology (MIT), founded by a USD 50 million contract with the US Army Research Office, is a research center in Cambridge, dedicated to developing nanotechnology to improve the survivability of soldiers.
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- Assess the production processes, major issues, and solutions to mitigate the development risk.
- To understand the most affecting driving and restraining forces in the market and its impact in the global market.
- Learn about the market strategies that are being adopted by leading respective organizations.
- To understand the future outlook and prospects for the Spintronics market.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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