Spintronics Market Growth Rate, Developments In Major Areas, Dynamics, Forecast

Posted by Devanshu Shrivastava on December 21st, 2020

The global spintronics market attained a revenue of 362.7 million dollar in 2019 and is predicted to exhibit a CAGR of 34.8% between 2020 and 2030. According to the estimates of P&S Intelligence, a market research firm based in India, the market will reach a valuation of 12,845.6 million dollar by 2030. The rising requirement for magnetoresistive random-access memory (MRAM) and the ballooning deployment of electric vehicles (EVs) are the prominent factors powering the advancement of the market across the globe. 

The mushrooming requirement for MRAMs is a major factor driving the progress of the spintronics market. MRAM is a non-volatile memory technology that utilizers electrical current, instead of using a magnetic field. Unlike the traditionally used RAMs, MRAMs have the ability to retain the data even when power is not available. In addition to this, MRAMs demonstrate high transfer speeds and consume very less power. Because of these factors, the popularity of MRAM is increasing rapidly around the world. 

Another important factor propelling the growth of the market is the increasing usage of EVs. Spintronic sensors incorporated in automobiles play an important role in improving the battery performance. This is done by monitoring the battery life and the current flow. Tunnel magneto resistance (TMR) and giant magneto resistance (GMR) sensors are used heavily for position sensing instead of the anisotropic magnetoresistance (AMR) and Hall IC sensors, due to their lesser power consumption characteristics.

Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/spintronics-market/report-sample

This market research report provides a comprehensive overview of the spintronics market

• Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings