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 an 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
By Type
By Application
By Region
KEY MARKET PLAYERS
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 an 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
By Type
- Metal Based Devices
- Giant- Magneto Resistance
- Tunnel-Magneto Resistance
- Spin -Transfer Torque Device
- Spin Wave Logic Device
- Semiconductor Based Devices
- Spin Diode
- Spin Filter
- Spin Field Effect Transistor
By Application
- Electric Vehicles
- Industrial Motors
- Semiconductor Lasers
- Magnetic Tunnel Transistors
- Data Storage
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY MARKET PLAYERS
- Advanced Microsensors
- Applied Spintronic Technology, Inc.
- Crocus Technology
- Everspin Technologies Inc.
- Futek Advanced sensor Technology Inc.
- HBM
- Kistler Group
- PCB Piezotronics
- Infineon Technologies
- Sensor Technology
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SPINTRONICS LOGIC DEVICES MARKET, BY TYPE
CHAPTER 5: SPINTRONICS LOGIC DEVICES MARKET, BY APPLICATION
CHAPTER 6: SPINTRONIC LOGIC DEVICES MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
Executive Summary
According to the report titled, 'Spintronic Logic Devices Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2018-2026,' the global spintronic logic devices market size was valued at$2.14 billion in 2018, and is projected to reach $21.89billion by 2026, registering a CAGR of 34.7% from 2019 to 2026.Spintronic devices offer the scope of enhanced functionality, higher speed, and reduced power consumption. The spintronic logic devices market holds a substantial scope for growth globally. Currently, it is in its continuous growing stage. There is an increase in demand for electric two or three-wheelers due to their wide usage in automotive application. Manufacturers of automotive are incorporating spintronic logic devices in their tools to add additional features and keep ahead of other players in the highly competitive market.
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. Digital data couplers using spintronics, which provides high-speed data transfers are used in multiple applications, thereby propelling market growth. In addition, the use of spintronics in computers and laptops is a major factor that fuels the growth of the market. The increasing demand for lightweight construction and reduced battery operation space, weight, and power consumption in electric vehicles have driven the adoption of sensors. Automobile transportation has been witnessing a shift towards electric vehicles for higher fuel efficiency and cleaner running fuel/electric hybrids and plug-in electric vehicles. Moreover, an increase in government support & funding offers huge spintronic logic devices market opportunities in the next six years.
The incorporation of spintronics into any devices increases its functionality, accuracy, and efficiency, increasing its data processing speed, this is the reason which contributes to the spintronic logic devices market growth. Spintronics is considered one of the most important emerging research areas with an immense potential to provide high speed, low power and high-density logic, low threshold current and high-power lasers.
On the basis of spintronic logic devices market analysis, the dynamic metal-based devices segment generated the highest revenue in 2018, followed by the semiconductor-based devices segment. By region, the spintronic logic devices market trends are analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe is expected to witness substantial growth in the global automotive electric vehicle’s spintronic logic devices market. This is because of the increasing demand for such vehicles in various countries such as Germany and the U.K. For instance, The Honda Civic Hybrid and Toyota Camry Hybrid are both examples of HEVs. The major factors that affect the adoption rate of spintronic logic devices in North America include Technological advancements, high per capita income, and early introduction to automation. An inclination toward advanced technological products, an increase in investments in the various industry verticals, and growth in R&D facilities are the factors that drive the growth of the LAMEA spintronic logic devices market.
According to Avinash Savekar, Lead Analyst, Semiconductors & Electronics, “The global spintronic logic devices market is expected to witness considerable growth due to the emerging trend of faster speed and efficient power solutions in electric vehicles and data storage systems. The global spintronic logic devices industry is projected to witness significant growth, especially in emerging economies such as Asia-Pacific and North America, owing to the presence of key spintronics devices players in these regions.”
KEY FINDINGS OF THE STUDY
- By type, the metal-based segment generated the highest revenue in the market in 2018.
- Depending on the application, the data storage segment generated the highest revenue in the spintronic logic devices market in 2018.
- By region, Asia-Pacific is expected to grow at the highest CAGR of more than 35.0% during the forecast period.
The report provides a comprehensive analysis of major market players such as Advanced Microsensors, Applied Spintronic Technology, Inc., Crocus Technology, Everspin Technologies Inc., Futek Advanced Sensor Technology Inc., HBM, Kistler Group, PCB Piezotronics, Infineon Technologies, and Sensor Technology. Further, prominent strategies adopted by leading players are analyzed to highlight the top winning strategies. These key players adopted several strategies such as new product launch and development, acquisition, partnership & collaboration, and business expansion to increase their spintronic logic devices market share.
Companies Mentioned
- Advanced Microsensors
- Applied Spintronic Technology Inc.
- Crocus Technology
- Everspin Technologies Inc.
- Futek Advanced Sensor Technology Inc.
- HBM
- Kistler Group
- PCB Piezotronics
- Infineon Technologies
- Sensor Technology
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
