Spintronic Logic Devices Market By Type (Metal Based Devices and Semiconductor Based Devices) and Application (Electric Vehicles, Industrial Motors, Semiconductor Lasers, Magnetic Tunnel Transistors, Data Storage, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026
The global spintronic logic devices market size was $2.14 billion in 2018, and is projected to reach $21.89 billion by 2026, registering a CAGR of 34.7% from 2019 to 2026. Spintronics refers to spin-based electronics used in many solid-state devices to study the intrinsic spin of electrons. Its major motive is to use the spin of the electrons rather than their charge, and to utilize the magnetic moment associated with them. All spintronic technology devices act according to the information stored into spins as per spin orientation. Subsequently, the spins, being attached to mobile electrons, carry the information along a wire, leading to a terminal that reads the information.
The growth of the global spintronic logic device market is driven by substantial rise in demand for spin electronics in electronic devices, due to their several advantages over conventional electronics such as it has been extensively deployed in data storage devices, due to its faster data transmission capabilities and increased storage capacity. Also, surge in penetration of electric vehicles, which is help to grow the demand for lightweight construction and reduced battery operation space & power consumption in electric vehicles have driven the adoption of spintronics devices. Furthermore, the automobile industry has witnessed shift in preference toward electric vehicles for higher fuel efficiency and cleaner running fuel/electric hybrids and plug-in electric vehicles. Also, surge in need for higher data transfer speed coupled with increase in storage capacity. Technological advancements in the spintronics technology, especially in magnetic sensors, such as high resolution, high sensitivity, compact size, and low power consumption significantly contribute toward the growth of the global market. However, high installation cost of spintronics logic devices is a key restraining factor of the market. On the contrary, increase in government support and funding toward electric vehicle & electronics is anticipated to offer lucrative opportunities for market expansion during the forecast period.
The spintronic logic devices market is segmented into type, application, and region. On the basis of type, the market is bifurcated into metal-based devices and semiconductor-based devices. The metal-based devices segment dominated the spintronic logic devices market in terms of revenue in 2018, whereas the semiconductor-based devices segment is expected to grow at the highest CAGR during the forecast period. These metal-based devices segment is further classified into giant magneto resistance-BASED device, tunnel magneto resistance-BASED devices, spin-transfer torque device, and spin-wave logic device. Semiconductor-based devices are sub segmented into spin diode, spin filter, and spin field effect transistor. Applications covered in the study include electric vehicles, industrial motors, semiconductor lasers, magnetic tunnel transistors, data storage, and others (magnetic sensing and magnetic random-access memory). Region wise, the spintronic logic devices market analysis is done across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the report include as Applied Spintronic Technology, Inc., Crocus Technology, Everspin Technologies Inc., Futek Advanced Sensor Technology Inc., HBM, Kistler Group, PCB Piezotronics, Infineon Technologies, Sensor Technology. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance their market penetration.
GLOBAL SPINTRONIC LOGIC DEVICES MARKET SEGMENTATION
Metal Based Devices
Giant- Magneto Resistance
Spin -Transfer Torque Device
Spin Wave Logic Device
Semiconductor Based Devices
Spin Field Effect Transistor
Magnetic Tunnel Transistors
Rest of Europe
Rest of Asia-Pacific
KEY MARKET PLAYERS
Applied Spintronic Technology, Inc.
Everspin Technologies Inc.
Futek Advanced sensor Technology Inc.
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