Global Spintronics Market Worth $12.84 Billion by 2030 - Rising Demand for MRAMs is a Key Driving Factor -

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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).

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.

The other major spintronics market driver is the growing demand for EVs across the globe. This is primarily attributed to the crucial role played by spintronics sensors in enhancing the battery performance of the EV. For position sensing, giant magnetoresistance (GMR) and tunnel magnetoresistance (TMR) sensors are used instead of Hall integrated circuits (ICs) and anisotropic magnetoresistance (AMR) sensors, on account of their low power consumption. Additionally, spintronic-based sensors also improve the range of the EV, which further boosts their demand.

On the basis of device type, the spintronics market is bifurcated into metal-based and semiconductor-based. Of these, the metal-based bifurcation had the larger market share, in terms of revenue, in 2019. This is attributed to the high-speed data transfer and low energy consumption characteristics of the metal-based spintronic devices, as a result of being made from ultrathin ferromagnetic films. Due to the increasing deployment of 5G, adoption of internet of things (IoT), and commercialization of spin transistors, the semiconductor-based spintronics bifurcation is predicted to register faster growth during the forecast period.

Based on end user, the spintronics market is divided into multiple categories, namely automotive, consumer electronics, industrial, IT & telecom, healthcare, and others. The others category includes media & entertainment, transportation, banking, financial, services and insurance (BFSI), aerospace and defense, and logistics. Amongst the main categories, IT & telecom had the largest market share, in terms of revenue, in 2019. The healthcare category, on account of the ballooning demand for spintronic-based magnetic sensors, is predicted to register the highest CAGR during the forecast period.

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.

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.

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.

Key Topics Covered

Chapter 1. Research Background

1.1 Research Objectives

1.2 Market Definition

1.3 Research Scope

1.3.1 Market Segmentation by Device Type

1.3.2 Market Segmentation by Application

1.3.3 Market Segmentation by End-user

1.3.4 Market Segmentation by Geography

1.3.5 Analysis Period

1.3.6 Market Data Reporting Unit Value Volume

1.4 Key Stakeholders

Chapter 2. Research Methodology

2.1 Secondary Research

2.2 Primary Research

2.2.1 Breakdown of Primary Research Respondents by Region by Industry Participant by Company Type

2.3 Market Size Estimation

2.4 Data Triangulation

2.5 Assumptions for the Study

Chapter 3. Executive Summary

Chapter 4. Introduction

4.1 Definition of Market Segments

4.1.1 By Device Type Metal-based GMR TMR Semiconductor-based Spin diode Spin filter Spin FET

4.1.2 By Application Magnetic sensor MRAM RF and microwave devices

4.1.3 By End User Automotive Industrial Consumer electronics Healthcare IT & telecom Others

4.2 Value Chain Analysis

4.3 Market Dynamics

4.3.1 Trends Advancements in spin-transfer torque (STT)-MRAM Integration of spintronic sensor with MEMS and nanoelectromechanical system (NEMS)

4.3.2 Drivers Increasing demand for MRAMs Growing demand for electric vehicles (EVs) Impact analysis of drivers on market forecast

4.3.3 Restraints High investment Impact analysis of restraints on market forecast

4.3.4 Opportunities Potential use of spintronics in quantum computing High potential for the molecular spintronics

4.4 Porter's Five Forces Analysis

Chapter 5. Global Market Size and Forecast

5.1 By Device Type

5.1.1 By Metal-Based

5.1.2 By Semiconductor-Based

5.2 By Application

5.3 By End-user

5.4 By Region

Chapter 6. North America Market Size and Forecast

Chapter 7. Europe Market Size and Forecast

Chapter 8. APAC Market Size and Forecast

Chapter 9. RoW Market Size and Forecast

Chapter 10. Competitive Landscape

10.1 List of Key Players and Their Offerings

10.2 Market Share Analysis of Key Players

10.3 Competitive Benchmarking of Key Players

10.4 Strategic Developments of Key Players

10.4.1 Product Launches

10.4.2 Distribution Agreements

10.4.3 Other Developments

Chapter 11. Company Profiles

11.1 NVE Corporation

11.1.1 Business Overview

11.1.2 Product & Service Offerings

11.1.3 Key Financial Summary

11.2 Everspin Technologies Inc.

11.3 Spin Memory Inc.

11.4 Crocus Technology International Corp.

11.5 Synopsys Inc.

11.6 ams AG

11.7 International Business Machines (IBM) Corporation

11.8 Avalanche Technology

11.9 Merck KGaA

11.10 Samsung Electronics Co. Ltd.

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Laura Wood, Senior Press Manager

For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

Laura Wood, Senior Press Manager

For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900