Industry Background:
Innovation in technology has led to the introduction of Spintronics, a technology which is anticipated to steadily replace electronics. Spintronics will allow users to do more work than electronics with less effort. Today, the adoption of spintronics in memory has resulted in energy efficient chips and memory storage devices. MRAM is based on spintronics, which is a fast, small, and non-volatile memory. Spintronics device can operate better in high temperature or radiation temperature environments. In addition, the spintronic device is faster, smaller and more powerful than electronic ones. The demand for spintronics has been increased in recent decades owing to its better performance in hard drives, sensors, and digital electronics.According to AMA, the market for Spintronics is expected to register a CAGR of 47.5% during the forecast period to 2025. This growth is primarily driven by Increasing Demand for Spintronics in Electronic Devices, due to Less Power Consumption and Rising Need for Higher Data Transfer Speed and Increased Storage Capacity.
Major Players, such as NVE Corporation (United States), Plures Technologies, Inc. (United States), Advanced MicroSensors Corporation (United States), IBM Corporation (United States), QuantumWise (Denmark), Crocus Technology (United States), Intel Corporation (United States), Everspin Technologies, Inc. (United States), Applied Spintronics Technology, Inc. (United States) and Atomistix A/S (Denmark) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 12 July 2018, Intel Corp. acquired eASIC, a 19-year-old fabless semiconductor company headquartered down the street. The acquisition of eASIC's chipsets and talent base will help to drive the business in 5G and the Internet of Things.
Recently, Everspin Technologies has joined the Open Power Foundation, an open development community based on the microprocessor technology such that this collaboration is expected to revolutionize memory architecture.
Market Drivers
- Increasing Demand for Spintronics in Electronic Devices, due to Less Power Consumption
- Rising Need for Higher Data Transfer Speed and Increased Storage Capacity
Market Trend
Opportunities
Rising demand for the Hard Drives and Sensors Globally and Emerging Demand from Developing Countries
Challenges
Controlling the Spin of Electrons for Long Distances and Lack of Awareness amongst Users and Incomplete Knowledge of the Technology
AdvanceMarketAnalytics follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization of the Report:
AMA Research & Media features not only specific market forecasts, but also include significant value-added commentary on:
Market Trends
Technological Trends and Innovations
Regulatory Trends & Policies
Market Maturity Indicators
Market Share Movements
Growth Drivers and Constraints
New Entrants into the Market & Entry/Exit Barriers
Consumer Demographics
Supporting Company Financial and Cash Flow Planning
Open Up New Markets
To Seize Powerful Market Opportunities
Key Decision in Planning and to Further Expand Market Share
Identify Key Business Segments, Market Proposition & Gap Analysis