Showing posts with label Spintronics Market Demand. Show all posts
Showing posts with label Spintronics Market Demand. Show all posts

COVID-19: Potential Impact on Spintronics Market Estimated to Record Highest CAGR in Coming Years


The global prevalence of chronic obstructive pulmonary disease is 65 million people, while its annual death rate is 3 million, as estimated by the World Health Organization in the second edition of its Global Impact of Respiratory Diseases report.

The single biggest cause of such respiratory problems is air pollution caused by the discharge of toxic gases from vehicles and industries. Thus, to deal with the issue, governments in numerous countries are encouraging people to adopt electric vehicles (EV). With the increasing sale of EVs in the coming years, the usage of spintronic sensors would also surge.

As a result, the spintronics market would grow from its value of $362.7 million in 2019 to $12,845.6 million by 2030, at a 34.8% CAGR during 2020–2030 (forecast period).

Such sensors lower the power consumption and enhance the accuracy of operations, by utilizing the tunnel magnetoresistance (TMR) and giant magnetoresistance (GMR) effects. In EVs, spintronics-based sensors are used to make automobiles more efficient, increase the life of batteries, and predict overloading and breakdowns. EVs majorly utilize angular, position, and linear sensors, based on the TMR technology.

Apart from sensors, spintronics is also used in data storage devices, wherein the spinning motion of the electrons, along with their charge, is leveraged to store information. In general, spintronics devices can be based on semiconductors or metals, wherein metal-based devices are further of the GMR and TMR types.


Of these, TMR-type metal-based spintronics devices account for the higher adoption, owing to their smaller size and lower power consumption advantage. Additionally, they also offer a better insulating performance than the GMR variants, as they have higher magnetoresistance.
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Spintronics Market Outlook: Top Companies, Trends and Growth Factors Details for Industry Development




In 2019, the global spintronics market generated a revenue of $362.7 million and is projected to attain a value of $12,845.6 million by 2030, witnessing a 34.8% CAGR during the forecast period (2020–2030).

On the basis of end user, the healthcare division is predicted to register the fastest growth during the forecast period, which is attributed to the technological advancements in spintronic-based magnetic sensors. These sensors are projected to be used for detecting tumor cells in the human body.

In terms of device type, the metal-based category is held the larger share of the spintronics market in 2019, as metal-based spintronics, including giant magneto resistance (GMR) and tunnel magneto resistance (TMR), offer low energy consumption and high-speed data transfer.

The semiconductor-based category is projected register higher CAGR during the forecast period, as these spintronics consume less power and are more efficient. The sales of semiconductor-based spintronics is further predicted to increase in the coming years because of the rising adoption of internet of things and increasing deployment of 5G.


Geographically, North America dominated the spintronics market in 2019, which was primarily ascribed to the rising requirement for spintronics due to the expanding cloud market in the region. 

Apart from this, the import of optical hardware, including spintronic-based transmitters and receivers, has risen because of their increasing requirement for supporting 5G network infrastructure in North America. 

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