Global Spintronics Market was valued US$ 1.71 Bn in 2017 and is expected to reach US$ 35.51 Bn by 2026 at a CAGR of 46.11% during the forecast period.
Spintronics eliminate the requirement of a specialized semiconductor material, as required in electronics, by functioning effectively over copper, aluminum and other common metals resulting into 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 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.
China is on its way to accelerated growth in the spintronics market, witnessing a CAGR of around XX %.China's spintronics market's growth is backed by government initiatives, like 13th Five-Year Plan, Internet, and Made in China 2026. The trend can directly be witnessed in the ongoing R&D initiatives within the country. Starting in 2013, China began experimenting on spintronics, and maintains a steady growth. The country had around 4,085 citations and patents in 2016.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 2016, 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.
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The spintronics market is at anemerging 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, project 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.
Scope of Global Spintronics Market
Global Spintronics Market, By Device Type
• Metallic Based Spintronics
• Alloy Based Spintronics
Global Spintronics Market, By Application
• Spintronic Couplers
• Hard Disks
• Microwave Devices
Global Spintronics Market, By Region
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Spintronics Market
• Plures Technologies, Inc.
• Advanced MicroSensors Corporation
• IBM Corporation
• Crocus Technology
• Intel Corporation
• Everspin Technologies, Inc.
• Organic Spintronics
• Everspin Technologies
• Rhomap Ltd.
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