Global Spintronics Market was valued at US$ 2.50 Bn in 2019 and is expected to reach US$ 35.51 Bn by 2027 at a CAGR of 46.11% during the forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lockdown was implemented differently in different regions and countries, the impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Global Spintronics Market Dynamics
Spintronics eliminates the requirement of specialized semiconductor material, as required in electronics, by functioning effectively over copper, aluminium, and other common metals resulting in reduced manufacturing cost. This factor is expected to drive the overall spintronics market by proliferating the rate of adoption of spintronics. The added advantages of spintronics such as less energy requirement, low power consumption, faster data transfer, larger storage capacity, small size, etc. are, also, expected to drive the growth of the spintronics market.
Continuous research and efforts for the implementation of MRAMs and magnetic sensors is the primary factor driving the growth of spintronics technology. Lack of awareness amongst users and incomplete knowledge of the technology, as it is still in its nascent & development stage is the major challenge against the growth of spintronics adoption.
Global Spintronics Market Regional insights
China is on its way to accelerating its growth in the spintronics market, witnessing a CAGR of around XX %.China's spintronics market's growth is backed by government initiatives, like the 13th Five-Year Plan. The trend can directly be witnessed in the ongoing R&D initiatives within the country. China began experimenting with spintronics, and maintains steady growth. The country had around 4,085 citations and patents in 2019. High R&D capability in this region is likely to decrease the price of storage products in coming years.
The Chinese government is encouraging foreign automakers to enter into 50/50 joint ventures, with Chinese companies, to make and sell cars and trucks in the Chinese market. In 2019, total vehicle sales in China reached over 28 million, up XX% from the previous year. 359,000 electric vehicles were sold in China compared to 159,000 in the United States.
The spintronics market is at an emerging 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. 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.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by type, service, components, and region and, projects the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the spintronics market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Global Spintronics Market, Key Highlights:
• Global Spintronics Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints, and opportunities influencing the growth of the Global Spintronics Market
• Global Spintronics Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Spintronics Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Spintronics Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning, and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion, and competitive landscape of the key players operating in the Global Spintronics Market are also profiled.
Scope of Global Spintronics Market
Global Spintronics Market, by Device Type
• Semiconductor Based Spintronics
• Metallic Based Spintronics
• Alloy Based Spintronics
Global Spintronics Market, by Application
• Magnetic Sensors
• Spintronic Couplers
• Mram
• Hard Disks
• Microwave Devices
Global Spintronics Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Global Spintronics Market Key players
• NVE Corporation
• Plures Technologies, Inc.
• Advanced MicroSensors Corporation
• IBM Corporation
• QuantumWise
• Crocus Technology
• Intel Corporation
• Everspin Technologies, Inc.
• Organic Spintronics
• Everspin Technologies
• Rhomap Ltd.
• Spin Transfer Technologies
• Crocus Technology
• ams AG
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