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”
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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:
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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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