Spintronics Market 2021-2026: Industry Trends, Growth, Scope, Demand

2022-09-15 12:21:16 UTC | Electronics & Semiconductors
Spintronics Market 2021-2026: Industry Trends, Growth, Scope, Demand

According to the latest report by IMARC Group, titled “Spintronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global spintronics market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 32% during 2021-2026.

Spintronics, or spin electronics, are devices that detect and manipulate the electron spin in solid-state matter. They use spin-charge coupling in metallic systems for quantum and neuromorphic computing. Spintronics consist of magnetic layers to control the spin polarization and generate spin waves to carry current without transferring heat. They are commonly available in metal- and semiconductor-based variants. Metal-based spintronics includes giant magneto resistance-, tunnel magneto resistance-, spin-transfer torque and spin-wave logic-based devices. On the other hand, semiconductor-based variants include spin diode, spin filter and spin field-effect transistors. They are widely used to manufacture memory units, quantum dots, oscillators, lasers and integrated magnetic sensors.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Market Trends:

The global spintronics market is primarily driven by the increasing demand for miniaturized microelectronic devices. Spintronics is widely integrated with nanotechnology to produce magnetic memory, stochastic computing and energy harvesting devices for faster data transmission capabilities. Moreover, the widespread product adoption in hybrid and electric vehicles (H/EV) is providing a thrust to the market growth. Spintronics aid in improving the battery performance of the vehicle and providing precise battery consumption estimates. Other factors, including the increasing utilization of spintronics in industrial motors, along with the rising demand for advanced consumer electronics, are anticipated to drive the market toward growth.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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