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Spintronic is an emerging field for next-generation nanoelectronic devices that aims to minimize the consumption of power while increasing memory and processing capacities. These devices use electrons' and/or holes' spin degrees of freedom, which can interact with their orbital moments. Spintronic devices are used in the field of mass-storage devices. They are employed to compress large amounts of data into a small area such as hard disk and memory. Recent advancements in spintronic devices have augmented the electronics industry, which comprises fields such as spintronic memory, spintronic sensors, oscillators, quantum information processors, and computer architecture. The global spintronic devices market is primarily driven by the rise in application of spintronic devices in various end-use industries such as automotive, IT & telecommunication, and electronics & semiconductors. Furthermore, continuous advancement in spintronic material and devices; and increase in usage of spintronic devices for memory and logic applications are the key factors that are anticipated to propel the market in the next few years.

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Rise in Adoption of STT-MRAM for Advanced Computing Technology and New Architecture to Drive Market

STT-MRAM delivers a significant reduction in switching energy as compared to Toggle MRAM. It is highly scalable and enables the usage of higher density memory products that employ a perpendicular MTJ with high perpendicular magnetic anisotropy, which provides long data retention, small cell size, greater density, high endurance, and low power. Spin electronics devices can solve battery life-related issues by utilizing less energy from transportable gadgets. Spintronic is one of the developing areas of the upcoming generation of nanoelectronic devices.

Companies have developed STT-MRAM products that are optimized for different memory workloads and use cases. Companies are offering a 1 GB density device that has a DDR4 (Double Data Rate 4)-like interface and operates akin to a steady DRAM (Synchronous Dynamic Random-Access Memory) for data center and enterprise storage applications. Thus, growth in computing technology and revolutionary new architectures, such as superconducting, neuromorphic engineering, and quantum computing, have fueled the need for spintronic devices. Increase in adoption of STT-MRAM drives diligent data transmission capabilities. Growth in storage capacity is estimated to create significant opportunities for the market in the next few years.

Rapid Digitization in Developing Economies Benefitting Providers of Spintronic Devices

Rapid digitization is boosting the development of new business & workforce models in diverse sectors. Spintronic devices are used to reduce the efforts needed for performing computational or memory functions. Key players from the electronics & semiconductor and IT & telecommunication industries, such as Samsung and INTEL, have expressed strong interest in spintronic devices to increase their memory and processing capabilities. Companies are striving to offer high access speed, high density, extensive lifespan, low power consumption, and radiation resistance MRAM by integrating the strengths of DRAM and SRAM. Chip manufacturers are focusing on reduction of energy and voltage application time for the write operation of spin-transfer torque magnetic random-access memory to cater to the requirement of the reduced power of microcontroller units (MCUs) in IoT, AI, and ML applications. Favorable government regulations are boosting the adoption of advanced technologies. This is also fueling the spintronic devices market.

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Increase in Focus on Metal-based Devices to Boost Spintronic Devices Market

In terms of type, the global spintronic devices market has been segregated into metal-based devices and semiconductor-based devices. The metal-based devices segment, which includes giant magneto resistance-based device (GMRS), tunnel magneto resistance-based device (TMRS), spin-transfer torque device, and spin-wave logic devices, held significant share of the market in 2021. Giant Magneto Resistance (GMR)-based metal spintronic became one of the standard technologies for read-heads of hard disk drives. Currently, magnetic tunnel junction (MTJ) is the preferred choice for the production of magnetic random-access memory (MRAM) devices.

 

Some of the key players have developed new metal-based devices. In July 2021, Allegro MicroSystems, Inc. launched a new GMR-based ATS19480 speed sensor IC. The product is ideal for hybrid and pure electric vehicle transmissions, with use cases extending to two-wheelers, off-road vehicles, and industrial application designs requiring speed-only information.

 

Expansion of the Manufacturing Sector across the Globe is Boosting Demand for Spintronic Sensors

In terms of product type, the global spintronic devices has been classified into sensors, memory and others. The sensors segment held the highest share of the spintronic devices market in 2021 owing to the growth in application of sensors in the industrial manufacturing sector. Sensors are used for industrial automation, process control, and the broader industrial IoT applications. Furthermore, sensors are employed in various industrial applications for current sensing, linear and angular position sensing, and rotation sensing.

 

Regional Outlook of Global Spintronic Devices Market

In terms of value, Asia Pacific held 40.11% share of the global spintronic devices market in 2021. High share of the region can be ascribed to significantly high demand for spin electronic devices in telecommunication and industrial sectors. China accounted for major share of the spintronic devices market in Asia Pacific in 2021.

 

North America and Europe are also prominent markets for spintronic devices. These regions held significant share of the global market in 2021. Increase in demand for spintronic devices in automotive and telecom industries in North America is driving the market in the region.

 

Middle East & Africa is a larger market of spintronic devices than Latin America. however, the market in Latin America is estimated to grow at a rapid pace compared to the market in Middle East & Africa during the forecast period.

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Analysis of Key Players in Global Spintronic Devices Market

The global spintronic devices market is consolidated, with a small number of large-scale vendors controlling the majority of the share. Most of the firms are spending significantly on comprehensive research and development and new product development activities. Expansion of product portfolios and mergers and acquisitions are major strategies adopted by key players. Allegro MicroSystems, Inc., Avalanche Technology, Crocus Technology, Everspin Technologies Inc., Infineon Technologies AG, NVE Corporation, Qnami, Spin Memory Inc., Synopsys, Inc., and TDK Corporation are the prominent entities operating in the market.

 

Key Developments in Global Spintronic Devices Market

In May 2021, Avalanche Technology announced an exclusive partnership with Micross Components, Inc., a global provider of mission-critical microelectronic components and services for high-reliability defense, space, aerospace, and industrial applications. The collaboration is expected to make Micross an exclusive supplier of die and hermetically sealed devices utilizing Avalanche's next-generation Spin Transfer Torque Magneto resistive Random Access Memory (STT-MRAM).

In April 2021, TDK Corporation announced the launch of new Micronas Hall-effect sensor portfolio with the CUR 4000 sensor. The sensor, designed for highly accurate current measurements in automotive and industrial applications, provides non-intrusive, galvanic isolated contactless current sensing. In high-power battery monitoring applications, the product is configured for DC and AC measurements as well as overcurrent detection.

In March 2020, Everspin Technologies, Inc. announced a joint development agreement with GLOBALFOUNDRIES (GF), the world’s leading specialty foundry. Both the companies have been partners on 40nm, 28nm, and 22nm STT-MRAM development and manufacturing processes and have upgraded their agreement to set the terms for an upcoming project on an advanced 12nm FinFET MRAM solution.

 

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