Product Code: PM4111
The global spintronics market size is expected to reach USD 2.2 billion by 2032, according to a new study by Polaris Market Research. The report "Spintronics Market Share, Size, Trends, Industry Analysis Report, By Product (Metal-based Services and Semiconductor-based Services); By Application; By End Use; By Region; Segment Forecast, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rising need and proliferation for high-capacity and non-volatile storage solutions that often require advanced spintronics-based MRAM and spin-transfer torque random-access memory, along with the growing development of new materials and fabrication techniques for spintronics, are prominent factors influencing the growth of the market. Additionally, the continuous increase in research & development efforts, mainly focused on the implementation of MRAMs and magnetic sensors and the introduction of new energy-efficient chips and memory-storage devices, will positively influence the growth of the market in the near future.
For instance, in March 2023, the University of Minnesota, in collaboration with the National Institute of Standards and Technology, said that they had developed a breakthrough process for creating spintronic devices that even has the potential to become the new industry standard for semiconductor chips essential for smartphones and computers.
In recent years, spintronics technology has gained enormous attention and popularity because of its ability to solve the critical problem of increased power dissipation in electronic circuits and making it possible with lower power consumption, infinite endurance, zero standby leakage, and non-volatile nature. Apart from this, emerging trends towards the adoption of IoTs and smart devices have also fueled the demand and need for memory components that can easily handle several functions at low power, such as spintronics.
For instance, according to our findings, the number of IoT devices connected across the globe is estimated to reach 27 billion by 2025, and approx. 29 billion by 2030. Also, the number of businesses using IoT devices or technologies has grown by 11% between the period of 2014 to 2019.
Furthermore, the integration of spintronic components with conventional semiconductor technology and devices is also an emerging trend in the market that aims to develop hybrid devices that leverage both charge and spin for enhanced functionality and could expand applications for spintronics across industry verticals.9
Spintronics Market Report Highlights
Semiconductor-based devices segment accounted for notable market share, mainly due to its surging use in various applications across end-user industries.
The electric vehicles segment will grow at the highest pace on account of its ability to extend the battery life and energy efficacy and advancements in spintronics technology.
The consumer electronics segment held the majority market share, mainly attributable to rising sales and the proliferation of consumer electronics such as smartphones and laptops.
North America dominated the global market with a considerable share, owing to continuous growth in end-user industries, including electric vehicles and transportation.
The key market players include Infineon Technologies, Plures Technologies, Intel Corporation, Allergo MircoSystems Inc., Advanced MicroSensors, and Crocus.
Polaris Market Research has segmented the spintronics market report based on product, application, end use, and region:
Spintronics, Product Outlook (Revenue - USD Million, 2023 - 2032)
- Metal-based Devices
- Semiconductor-based Services
Spintronics, Application Outlook (Revenue - USD Million, 2023 - 2032)
- Electric Vehicles
- Industrial Motors
- Data Storage
- Magnetic Sensing
Spintronics, End Use Outlook (Revenue - USD Million, 2023 - 2032)
- Automotive
- Industrial
- Consumer Electronics
- Healthcare
- IT & Telecom
- Others
Spintronics, Regional Outlook (Revenue - USD Million, 2023 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Spintronics Market Insights
- 4.1. Spintronics Market - Distribution Channel Snapshot
- 4.2. Spintronics Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Development of technologies lowering the power consumption and demand for faster data transfer driving the market growth
- 4.2.1.2. The rise in the demand and need for innovative and advanced sensors
- 4.2.2. Restraints and Challenges
- 4.2.2.1. The higher complexity associated with the production of spintronics materials
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Spintronics Market Distribution Channel Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Spintronics Market, by Application
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Spintronics Market, by Application, 2019-2032 (USD Million)
- 5.3. Electric Vehicles
- 5.3.1. Global Spintronics Market, by Electric Vehicles, by Region, 2019-2032 (USD Million)
- 5.4. Industrial Motors
- 5.4.1. Global Spintronics Market, by Industrial Motors, by Region, 2019-2032 (USD Million)
- 5.5. Data Storage
- 5.5.1. Global Spintronics Market, by Data Storage, by Region, 2019-2032 (USD Million)
- 5.6. Magnetic Sensing
- 5.6.1. Global Spintronics Market, by Magnetic Sensing, by Region, 2019-2032 (USD Million)
6. Global Spintronics Market, by Product Type
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 6.3. Metal-based Devices
- 6.3.1. Global Spintronics Market, by Metal-based Devices, by Region, 2019-2032 (USD Million)
- 6.4. Semiconductor-based Devices
- 6.4.1. Global Spintronics Market, by Semiconductor-based Devices, by Region, 2019-2032 (USD Million)
7. Global Spintronics Market, by Distribution Channel
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 7.3. Automotive
- 7.3.1. Global Spintronics Market, by Automotive, By Region, 2019-2032 (USD Million)
- 7.4. Industrial
- 7.4.1. Global Spintronics Market, by Industrial, By Region, 2019-2032 (USD Million)
- 7.5. Consumer Electronics
- 7.5.1. Global Spintronics Market, by Consumer Electronics, By Region, 2019-2032 (USD Million)
- 7.6. Healthcare
- 7.6.1. Global Spintronics Market, by Healthcare, By Region, 2019-2032 (USD Million)
- 7.7. IT & Telecom
- 7.7.1. Global Spintronics Market, by IT & Telecom, By Region, 2019-2032 (USD Million)
- 7.8. Others
- 7.8.1. Global Spintronics Market, by Others, By Region, 2019-2032 (USD Million)
8. Global Spintronics Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Spintronics Market Assessment, By Geography, 2019-2032 (USD Million)
- 8.3. Spintronics Market - North America
- 8.3.1. North America: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.3.2. North America: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.3.3. North America: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.3.4. Spintronics Market - U.S.
- 8.3.4.1. U.S.: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.3.4.2. U.S.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.3.4.3. U.S.: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.3.5. Spintronics Market - Canada
- 8.3.5.1. Canada: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.3.5.2. Canada.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.3.5.3. Canada: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.4. Spintronics Market - Europe
- 8.4.1. Europe: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.4.2. Europe.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.3. Europe: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.4.4. Spintronics Market - UK
- 8.4.4.1. UK: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.4.4.2. UK.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.4.3. UK: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.4.5. Spintronics Market - France
- 8.4.5.1. France: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.4.5.2. France.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.5.3. France: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.4.6. Spintronics Market - Germany
- 8.4.6.1. Germany: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.4.6.2. Germany.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.6.3. Germany: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.4.7. Spintronics Market - Italy
- 8.4.7.1. Italy: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.4.7.2. Italy.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.7.3. Italy: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.4.8. Spintronics Market - Spain
- 8.4.8.1. Spain: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.4.8.2. Spain.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.8.3. Spain: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.4.9. Spintronics Market - Netherlands
- 8.4.9.1. Netherlands: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.4.9.2. Netherlands.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.9.3. Netherlands: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.4.10. Spintronics Market - Russia
- 8.4.10.1. Russia: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.4.10.2. Russia.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.4.10.3. Russia: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.5. Spintronics Market - Asia Pacific
- 8.5.1. Asia Pacific: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.5.2. Asia Pacific.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.5.3. Asia Pacific: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.5.4. Spintronics Market - China
- 8.5.4.1. China: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.5.4.2. China.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.5.4.3. China: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.5.5. Spintronics Market - India
- 8.5.5.1. India: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.5.5.2. India.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.5.5.3. India: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.5.6. Spintronics Market - Malaysia
- 8.5.6.1. Malaysia: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.5.6.2. Malaysia.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.5.6.3. Malaysia: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.5.7. Spintronics Market - Japan
- 8.5.7.1. Japan: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.5.7.2. Japan.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.5.7.3. Japan: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.5.8. Spintronics Market - Indonesia
- 8.5.8.1. Indonesia: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.5.8.2. Indonesia.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.5.8.3. Indonesia: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.5.9. Spintronics Market - South Korea
- 8.5.9.1. South Korea: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.5.9.2. South Korea.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.5.9.3. South Korea: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.6. Spintronics Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.6.2. Middle East & Africa.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.6.3. Middle East & Africa: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.6.4. Spintronics Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.6.4.2. Saudi Arabia.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.6.4.3. Saudi Arabia: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.6.5. Spintronics Market - UAE
- 8.6.5.1. UAE: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.6.5.2. UAE.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.6.5.3. UAE: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.6.6. Spintronics Market - Israel
- 8.6.6.1. Israel: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.6.6.2. Israel.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.6.6.3. Israel: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.6.7. Spintronics Market - South Africa
- 8.6.7.1. South Africa: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.6.7.2. South Africa.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.6.7.3. South Africa: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.7. Spintronics Market - Latin America
- 8.7.1. Latin America: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.7.2. Latin America.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.7.3. Latin America: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.7.4. Spintronics Market - Mexico
- 8.7.4.1. Mexico: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.7.4.2. Mexico.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.7.4.3. Mexico: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.7.5. Spintronics Market - Brazil
- 8.7.5.1. Brazil: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.7.5.2. Brazil.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.7.5.3. Brazil: Spintronics Market, by Product Type, 2019-2032 (USD Million)
- 8.7.6. Spintronics Market - Argentina
- 8.7.6.1. Argentina: Spintronics Market, by Application, 2019-2032 (USD Million)
- 8.7.6.2. Argentina.: Spintronics Market, by Distribution Channel, 2019-2032 (USD Million)
- 8.7.6.3. Argentina: Spintronics Market, by Product Type, 2019-2032 (USD Million)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. Advanced MicroSensors Inc.
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Allergo MicroSystems Inc.
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. Avalanche Technology
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Crocus Technology
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Everspin Technologies Inc.
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. FUTEK Advanced Sensor Technology Inc.
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. IBM Corporation
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. Infineon Technologies AG
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. Intel Corporation
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Kistler Grouo
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
- 10.11. NVE Corporation
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
- 10.12. Plures Technologies
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development
- 10.13. Rhomap Ltd.
- 10.13.1. Company Overview
- 10.13.2. Financial Performance
- 10.13.3. Product Benchmarking
- 10.13.4. Recent Development
- 10.14. Spectris PLC
- 10.14.1. Company Overview
- 10.14.2. Financial Performance
- 10.14.3. Product Benchmarking
- 10.14.4. Recent Development
- 10.15. Spin Memory Inc.
- 10.15.1. Company Overview
- 10.15.2. Financial Performance
- 10.15.3. Product Benchmarking
- 10.15.4. Recent Development