Global Spintronics Market Size Growing at a CAGR of 33.10% by 2030
Category : Semiconductor And Electronics | Published Date : Jun 2024 | Type : Press Release
Spintronics Market Definition & Overview :
Spintronics is an emerging solid-state device technology that utilizes the inherent spin properties of an electron and its associated magnetic moment, in addition to the electron charge, to carry data and information.
Consegic Business Intelligence analyzes that the Global Spintronics Market size was valued at USD 647.29 Million in 2022 and is expected to register a CAGR of 33.10% to reach USD 6,200.47 Million by 2030.
This report comprises Spintronics Market Share, Size & Industry Analysis, By Type (Metal-Based Spintronics and Semiconductor Spintronics), By End-User(IT and Telecommunication, Automotive, Consumer Electronics, Healthcare, and Others), By Region(North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa), and Forecast, 2023-2030.
This report contains detailed information on Spintronics Market Trends, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Opportunities, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
As per the report analysis, the rising utilization of spin electronics in various industries including consumer electronics, IT and telecommunications, and automotive are key drives for the spintronics market growth. In the automotive industry, it is used for better performance, improved vehicle range, and utilization in advanced driver assistance (ADAS) in electric vehicles.
Segmental Analysis :
The Spintronics Market is segmented into three major segments based on type, end-user, and region.
Based on type, the market is bifurcated into metal-based and semiconductor.
- In 2022, the semiconductor segment accounted for the highest market share as they provide advantages like high speed, efficiency, infinite endurance, and excellent data storage capabilities.
- The metal-based segment is anticipated to witness the fastest CAGR over the forecasted period due to benefits like low power consumption, zero standby leakage, and good read-and-write performance.
Based on end-users, the market is categorized into IT and telecommunication, automotive, consumer electronics, healthcare, and others.
- The consumer electronics segment held the largest market share of 35.4% in 2022, as spin electronics are used for data storage and computational applications.
- The IT and telecommunications segment is expected to register the fastest CAGR during the forecasted period due to wide applications of spin electronics in data transmission and communications.
By region, the market is segregated into regions including North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- In 2022, the North American region contributed the highest revenue share of USD 275.75 Million and is expected to register a whopping CAGR of 33.2% from 2023 to 2030. Also, the U.S. alone accounted for 64.5% of the total revenue in 2022, due to the utilization of spin electronics for faster and more efficient data transfer in the IT and telecommunications industry.
- During the forecasted period, the Asia-Pacific region is expected to witness the fastest CAGR of 33.4% due to expanding IT and telecommunications, consumer electronics, and automotive industries.
| Report Attributes | Report Details |
| By Type | Metal-Based Spintronics and Semiconductor Spintronics |
| By End-User | IT and Telecommunication, Automotive, Consumer Electronics, Healthcare, and Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. Additionally, this report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Spintronics Industry :
- Avalanche Technology
- NVE Corporation
- Everspin Technologies Inc.
- Crocus Technology Inc.
- Qnami
- Synopsys Inc.
- TDK Corporation
Recent Industry Developments :
- In November 2022, Everspin Technologies Inc. launched its high-density STT-MRAM (spin-transfer torque magnetic random-access memory) product series, designed for utilization in a range of applications including network infrastructure, IoT, aeronautics, medical, and other applications.
