Spintronics Market Report by Type (Metal-Based Devices, Semiconductor-Based Devices), Application (Magnetic Sensors, Hard Disks and MRAMs, Electric Vehicle and Industrial Motor, Quantum Computing, RF and Microwave Devices, and Others), End User (Automotive, Consumer Electronics, Healthcare, IT and Telecom, and Others), and Region 2024-2032
The global spintronics market size reached US$ 728.3 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,065.7 Million by 2032, exhibiting a (CAGR) of 4.2% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 728.3 Million
Market Forecast in 2032
US$ 1,065.7 Million
Market Growth Rate (2024-2032)
4.2%
Spintronics, or spin electronics, is the study of the intrinsic spin of electrons and the associated magnetic moment in solid-state devices. It is widely used in quantum computing for analyzing the functioning of nanoscale electronics. Spintronics is applied to semiconductors, magnetic multilayers and mass-storage devices that use the spin of the electrons to carry information. It involves the use of various metal-based devices, such as giant magneto resistance-based (GMRS), tunnel magneto resistance-based (TMRS) and spin-transfer torque and spin-wave logic devices. They are used with spin diodes, filters and spin field-effect transistors (FET) for higher data transfer speeds, processing powers, memory densities and increased storage capacities. As a result, spintronics finds extensive application in electric vehicles (EVs), industrial motors and magnetic sensing systems.
Spintronics Market Trends:
The increasing demand for hybrid and EVs across the globe is one of the key factors driving the growth of the market. Spintronic closed-loop sensors are widely used to accurately detect the remaining battery capacity and check the charge and discharge condition to improve the overall performance of these automobiles. Moreover, the widespread adoption of advanced consumer electronics is providing a thrust to the market growth. The growth of the market can also be attributed to the rising demand for non-volatile memory technologies installed in Magneto-resistive random-access memory MRAM (systems) to use electron spinning for reversing the magnetization of layers and storing data through electric current. Additionally, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT) and the development of semiconductor-based spin transistors, are also contributing to the growth of the market. Other factors, including the increasing deployment of 5G technology, especially in the developing economies, along with extensive research and development (R&D) activities, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global spintronics market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on type, application, and end user.
Breakup by Type:
Metal-Based Devices
Giant Magneto Resistance-Based Device (GMRs)
Tunnel Magneto Resistance-Based Device (TMRs)
Spin-Transfer Torque Device
Spin-Wave Logic Device
Semiconductor-Based Devices
Spin Diode
Spin Filter
Spin Field Effect Transistor (FETs)
Breakup by Application:
Magnetic Sensors
Hard Disks and MRAMs
Electric Vehicle and Industrial Motor
Quantum Computing
RF and Microwave Devices
Others
Breakup by End User:
Automotive
Consumer Electronics
Healthcare
IT and Telecom
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Avalanche Technology, Crocus Technology, Everspin Technologies Inc., FUTEK Advanced Sensor Technology Inc., Intel Corporation, International Business Machines Corporation, Merck KGaA, NVE Corporation, Spin Memory Inc. and Synopsys Inc.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
US$ Million
Segment Coverage
Type, Application, End User, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
Avalanche Technology, Crocus Technology, Everspin Technologies Inc., FUTEK Advanced Sensor Technology Inc., Intel Corporation, International Business Machines Corporation, Merck KGaA, NVE Corporation, Spin Memory Inc. and Synopsys Inc.
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global spintronics market was valued at US$ 728.3 Million in 2023.
We expect the global spintronics market to exhibit a CAGR of 4.2% during 2024-2032.
The rising demand for hybrid and EVs, along with the growing adoption of spintronic closed-loop sensors to accurately detect the remaining battery capacity and check the charge and discharge condition to improve the overall performance of these automobiles, is primarily driving the global spintronics market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for spintronics.
Based on the type, the global spintronics market can be segmented into metal-based devices and semiconductor-based devices. Currently, metal-based devices hold the majority of the total market share.
Based on the application, the global spintronics market has been categorized into magnetic sensors, hard disks and MRAMs, electric vehicles and industrial motors, quantum computing, RF and microwave devices, and others. Among these, hard disks and MRAMs account for the largest market share.
Based on the end user, the global spintronics market can be bifurcated into automotive, consumer electronics, healthcare, IT and telecom, and others. Currently, IT and telecom exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global spintronics market include Avalanche Technology, Crocus Technology, Everspin Technologies Inc., FUTEK Advanced Sensor Technology Inc., Intel Corporation, International Business Machines Corporation, Merck KGaA, NVE Corporation, Spin Memory Inc., and Synopsys Inc.
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