China Spintronics Market to be dominated by Automotive Industry till 2027
Increasing demand for MRAMs
and the high demand from the consumer electronics industry is expected to drive
the demand for China spintronics market over the forecast period,
2023-2027.
According to TechSci Research
report, “China Spintronics Market
By Device Type (Semiconductor Based Spintronics, Metallic Based Spintronics,
Alloy Based Spintronics), By Application (Magnetic Sensors, Hard Disks and
Magnetic Random Access Memory, Electric Vehicles, Quantum Computing, RF and
Microwave Devices, Others), By End User (Automotive, Industrial, Consumer
Electronics, Healthcare, IT and Telecom), By Region, Competition Forecast &
Opportunities, 2027”, the China spintronics
market is expected to witness steady growth in the forecast period, 2023-2027.
The market is driven by the factors such as the high demand for semiconductor
devices and the introduction of energy-efficient devices and memory storage
devices. Spintronics eliminates the use of the need for specialized material,
which is required in electronic devices. The growing popularity of electric
vehicles, cloud storage, internet of things devices, and autonomous vehicles
are further expected to contribute to the China spintronics market growth over
the next five years.
However, the limitations of
spintronic devices like low operating devices and constraints in material
selection may hinder the China spintronics market growth over the forecast
period.
Browse over XX market
data Figures spread through 70 Pages and an in-depth TOC on "China
Spintronics Market"
The China spintronics market
is segmented into device type, application, end user, regional distribution,
and competitive landscape.
Based on device type, the
market is divided into semiconductor based spintronics, metallic based
spintronics, alloy based spintronics. Metallic based spintronics segment is
expected to capture the highest market share in the forecast period.
Giant-magneto resistance (GMR) in metal multilayers was discovered in 1988, and
continuous technological advancements led to the discovery of spintronics. They
began gaining popularity and became the standard technology for hard-disk
drives. In the later years, magnetic tunnel junction (MTJ) and
tunnel-magnetoresistance are becoming the preferred choice for manufacturing
magnetic random-access memory (MRAM) devices.
Based on application, the
market is divided into magnetic sensors, hard disks, magnetic random access
memory, electric vehicles, quantum computing, RF and microwave devices, and
others. The Quantum computing segment is expected to account for a significant
market share in the forecast period. In quantum computing, electron motion is
quantized in all directions, and conducting electrons are held within
nano-meter distances. The spin of the electron confined to quantum dots can be
used as quantum bits, and these arrays of quantum dots can be built into
quantum computers.
Based on end user, the market
is divided into automotive, industrial, consumer electronics, healthcare, and
IT and telecom. The automotive industry is expected to account for a
significant market share over the next five years. China has the world’s
largest vehicle market in terms of annual sales and manufacturing output.
According to the Ministry of Industry and Information Technology data, over 25
million vehicles were sold in 2020, including 19.99 million passenger vehicles.
Also, China is known as one of the biggest electric vehicle manufacturers
across the globe. Spintronics plays a vital role in improving battery
performance and increasing the electric vehicle range. Giant magnetoresistance
and tunnel magnetoresistance sensors are used as position sensors as they
consume less power in comparison to anisotropic magnetoresistance sensors and
hall integrated circuits. The high demand from the automotive industry is
expected to act as a positive factor for China spintronics market in the coming
years.
Major market players
operating in the China spintronics market are:
·
NVE
Corporation
·
Everspin
Technologies Inc.
·
Spin
Memory Inc.
·
Crocus
Technology
·
Synopsys
(QuantumWise)
·
Avalanche
Technology
·
Intel
Corporation
·
Atomistix
A/S
·
Rhomap
Ltd.
·
Plures
Technologies
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“The surge in demand for
smart homes, connected and autonomous vehicles, fleet management, and advanced
driver assistance system (ADAS) is expected to fuel the China spintronics
market growth. Initiatives by leading authorities in the form of the 13th
Five-Year Plan, Made in China 2025, and the huge investments by the prominent
market players for research and development activities are expected to act as a
positive factor for China's spintronics market. China witnesses high sales of
electric vehicles, and the integration of storage devices and sensors to
improve the functionality and performance of electric vehicles are expected to propel
the China spintronics market growth till 2027” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“China Spintronics Market
By Device Type (Semiconductor Based Spintronics, Metallic Based Spintronics,
Alloy Based Spintronics), By Application (Magnetic Sensors, Hard Disks and
Magnetic Random Access Memory, Electric Vehicles, Quantum Computing, RF and Microwave
Devices, Others), By End User (Automotive, Industrial, Consumer Electronics,
Healthcare, IT and Telecom), By Region, Competition Forecast &
Opportunities, 2027”, has evaluated the future
growth potential of China spintronics market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in China spintronics market.
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