Spintronics Market Growth Prospects, Key Vendors, and Future ScenarioPosted by Devanshu Shrivastava on March 24th, 2021 The device type segment of the spintronics industry is bifurcated into metal-based and semiconductor-based. In 2019, the metal-based category dominated the market, as the usage of ultrathin ferromagnetic films in metal-based devices allows the control of the spin of electronics by applying external magnetic field. This ensures low-energy consumption and high-speed data transfer. Whereas, in the forecast years, the semiconductor-based category will display the highest growth, on account of the rising deployment of 5G technology, increasing commercialization of spin transistors, and escalating adoption of internet of things (IoT) technology.
Spintronic devices are largely adopted in the IT & telecom sector, due to the surging adoption of IoT devices and connected cloud technology and digital transformation of the industry. This has led to the high demand for reliable and stable data center network. In addition, the healthcare sector is also expected to deploy spintronics solutions to treat patients. Healthcare facilities are increasingly using spintronics-based magnetic sensors to detect tumor cells in human body.
 With the introduction of more advanced sensors, the adoption of these products is projected to surge in this sector. North America harnessed the maximum potential of spintronics during 2014–2019, on account of increasing application of cloud technology in the region. Cloud service providers like Google LLC, Microsoft Corporation, and Amazon Web Services Inc. have started deploying MRAM for cloud computing applications.
Moreover, vast number of data centers is also contributing to the increased application of spintronics products. Whereas, the Asia-Pacific (APAC) region is expected to deploy these products at the highest rate, due to the spurring demand for IoT devices, EVs, and cloud storage in the region. Thus, the escalating demand for EVs and the developing field of quantum computing will propel the deployment of spintronic products in various end-use industries in the future.
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