+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)


Spintronics Market - Growth, Trends and Forecast (2020 - 2025)

  • ID: 4703441
  • Report
  • January 2020
  • Region: Global
  • 120 pages
  • Mordor Intelligence
until Mar 31st 2020
1 of 4


  • Crocus Technology
  • NVE Corporation
  • Synopsys (QuantumWise)
  • MORE
Market Overview

The spintronics market was valued at USD 3.62 billion in 2019 and is expected to reach a value of USD 25.99 billion by 2025, at a CAGR of 47.04% over the forecast period (2020-2025). In recent years, spintronics has been extensively deployed in data storage devices, due to its faster data transmission capabilities and increased storage capacities, when compared to conventional storage devices.
  • The spintronics market is at a nascent phase of development, with huge growth potential over the forecast period. There have been significant investments in research to develop suitable devices capable of being deployed across the world in a broad range of applications.
  • There have been comprehensive experimental efforts to control the electron displacement over long distances, although maintaining electron spin coherence after transfer remains a challenge. Since individual electron spins can be displaced coherently over a distance of 5 µm, controlling the spin of electrons for long distances was a challenge for the industry.
  • Products incorporated with spintronics technology have applications in an electric vehicle, industrial motor, data storage, MRAM, among other end-users discussed within the scope of this report.
  • In recent years, spintronics has been extensively deployed in data storage devices, due to its faster data transmission capabilities and increased storage capacities, when compared to conventional storage devices.
  • Incorporation of spintronics in MRAM resulted in a transformation of the data storage industry. Moreover, it is expected that MRAM will replace flash memory devices, such as SD cards, in the coming years.
Scope of the Report

Spintronics, also known as spin electronics, is the study of the intrinsic spin of the electron and its associated magnetic moment, in addition to its fundamental electronic charge, in solid-state devices. The field of spintronics concerns spin-charge coupling in metallic systems, the analogous effects in insulators fall into the field of multiferroics.

Key Market Trends

Giant Magnetoresistance-Based Devices to Hold the Largest Share in the Market Presently
  • The discovery of the giant magnetoresistance (GMR)-based devices has caused a paradigm shift in the electronics industry, bringing out new fields of science, such as magneto- electronics.
  • GMR is a quantum mechanical magnetoresistance effect that is formed when multilayers are composed of alternating ferromagnetic and non-magnetic conductive layers. GMR devices generally consist of a layer of non-magnetic metal between two magnetic metals.
  • GMR sensors are also deployed in the automobile industry for various applications, such as rotational speed, angle, and position. The current hybrid electric vehicles, such as the Toyota Prius, use integrated power electronics modules (IPEM) to reduce cost, package size and interconnects. A GMR point field detector is used for in-situ current measurement directly inside the IPEM module.
  • Therefore, with the increasing adoption of electric cars and hybrid electric cars, the adoption of GMR devices is also expected to grow over the forecast period.
The United States to Account for a Significant Share
  • A significant rise in the demand for electric vehicles has been observed in the country, owing to energy and environmental concerns, driving the market for spintronics, which are integrated in electric vehicles. According to the Electric Vehicle Transportation Center, around 350000 EVs were sold in the United States in 2018.
  • The rapid decline in battery costs, rising commitment from major car makers, strong policy support from state and local governments, and low operational costs have put electric vehicles (EVs) on track to overtake gasoline-powered vehicles in the near future, owing to which the country will witness a significant demand for spintronics technology.
  • Moreover, in the United States, a wealth of private-sector businesses, academic institutions, and federal research-and-development laboratories are specifically focused on the advancement of MEMS and nanotechnology.
  • The Institute for Soldier Nanotechnologies at the Massachusetts Institute of Technology (MIT), founded by a USD 50 million contract with the US Army Research Office, is a research center in Cambridge, dedicated to developing nanotechnology to improve the survivability of soldiers.
Competitive Landscape

This market is characterized by steadily growing levels of product penetration, low product differentiation, and high levels of competition. Competitive advantage is heavily dependent on innovation. Players in segments, such as Spin Transfer Technologies and Crocus Technologies, received funding to enhance their product innovation in recent years. Thus, the intensity of competitive rivalry is high. Some key recent developments in the market include:
  • January 2019 - NVE Corporation launched the new ASR002-10E Smart Angle Sensor. The new sensor combines a unique Tunneling Magnetoresistance (TMR) sensor element with elegant digital signal processing.
  • November 2018 - SMART Modular Technologies partnered with Everspin Technologies to enable the launch of the new Spin-Transfer Torque MRAM nvNITRO Storage Accelerator. The nvNITRO is ideally suited for synchronous logging applications, such as those used for financial trading.
Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format.
  • Report customization as per the client's requirements.
  • 3 months of analyst support.
Note: Product cover images may vary from those shown
2 of 4


  • Crocus Technology
  • NVE Corporation
  • Synopsys (QuantumWise)
  • MORE
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study



4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increasing Demand for Spintronics in Electronic Devices, Due to Lesser Power Consumption
4.3.2 Rising Need for Higher Data Transfer Speed and Increased Storage Capacity
4.4 Market Restraints
4.4.1 Controlling the Spin of Electrons for Long Distances
4.5 Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry

5.1 By Types of Devices
5.1.1 Metal-based Devices Giant Magneto Resistance-based Device (GMRs) Tunnel Magneto Resistance-based Device (TMRs) Spin-transfer Torque Device Spin-wave Logic Device
5.1.2 Semiconductor-based Device Spin Diode Spin Filter Spin Field Effect Transistor (FETs)
5.2 By Application
5.2.1 Electric Vehicle
5.2.2 Industrial Motor
5.2.3 Data Storage
5.2.4 Magnetic Random Access Memory (MRAM)
5.2.5 Magnetic Sensing
5.2.6 Other Applications (Semiconductor Laser, Magnetic Tunnel Transistor)
5.3 Geography
5.3.1 North America United States Canada
5.3.2 Europe Germany United Kingdom France Rest of Europe
5.3.3 Asia-Pacific China Japan India South Korea Rest of Asia-Pacific
5.3.4 Rest of the World

6.1 Company Profiles
6.1.1 NVE Corporation
6.1.2 Everspin Technologies Inc.
6.1.3 Spin Transfer Technologies
6.1.4 Crocus Technology
6.1.5 Synopsys (QuantumWise)


Note: Product cover images may vary from those shown
3 of 4


4 of 4
  • NVE Corporation
  • Everspin Technologies Inc.
  • Spin Transfer Technologies
  • Crocus Technology
  • Synopsys (QuantumWise)
Note: Product cover images may vary from those shown