Spintronic Logic Devices Market Size, Share, Opportunities, And Trends By Devices (Metal-based Devices, Semiconductor-based), By Application (Electric Vehicle, Industrial Motors, Semiconductor Lasers, Magnetic Tunnel Transistor, Data Storage, Others), And By Geography - Forecasts From 2024 To 2029

The spintronic logic devices market is anticipated to expand at a high CAGR over the forecast period.

Spintronic logic devices are referred to as spin electronic devices. It consists of magnetic layers that act as separation layers for spin polarizers or analyzers from non-magnetic layers through which spin-polarized electrons are transmitted. It helps in manipulating the magnetization of nanostructures through spin-polarized current.

Some of the widely used spintronic logic devices are hard disk drives and magnetic random access memory. With the help of the spintronic technique, a new write scheme is introduced for MRAM which gives improved scalability of the devices towards the 22 nm node.

Spintronic devices are widely used in mass-storage devices. This technique is used to adjust large amounts of data into a small space. Spintronic devices also find their application in the medical field for detecting cancer.

Market Drivers

• Increasing demand for faster and more energy-efficient devices is contributing to the growth of the spintronic logic devices market-

Increasing consumer demand for faster and more energy-efficient devices is propelling the growth of the spintronic logic devices market. The spintronic logic technique not only reduces the power consumption of the devices but also reduces their size which the devices are easy to use.

Energy efficiency is presently receiving considerable worldwide emphasis from policymakers, who see its importance in improving energy security and affordability, as well as speeding up renewable energy transitions. This comes as the predicted 2023 rate of development in energy intensity - the primary parameter used to assess the world economy's energy efficiency - is expected to fall back to 1.3%, down from a higher 2% last year.

Among various products, one of the products is Synopsys OptSim allows its users to design and simulate current optical communication systems at the signal propagation level. It helps accelerate user-modeling capabilities and also provides real scenarios with the help of extensive industry specifications. It is widely used in optical component manufacturers, service providers, government labs, and academic institutions. 

• Advancements in the semiconductor manufacturing process are contributing to the growth of the spintronic logic devices market-

Spintronics is considered to be among the most promising future technology. Spintronics technology makes use of spinning electrons along with their charge. AI, big data, and information and communication technology’s (ICT) memory domain are among the major sectors that make use of spintronic devices.

Spintronics technology is used in semiconductors to work for spin dynamics with the help of non-magnetic materials and provides probabilities in metal systems. This process helped to develop MRAM technology that is based on magnetic semiconductors.

The Semiconductor Industry Association (SIA) announced that worldwide semiconductor sector sales were $47.6 billion in January 2024, up 15.2% from $41.3 billion in January 2023 but down 2.1% from $48.7 billion in December 2023.

Year-over-year sales of semiconductors with China accounting for 26.6% of the total sales, followed by America with 20.3%, and the Asia Pacific with others accounting for 12.8%, while Japan and Europe witnessed a decrease in sales of -6.4 % and -1.4% respectively.

Growing research and development in the semiconductor industry to make semiconductors more powerful, efficient, reliable, and compact made semiconductor manufacturers use spintronic technique has not increased the usage of spintronic logic devices but helped in expanding its market.

Restraints-

• Increasing competition from established technologies hampers the growth of the market

Increasing research and development has led to the introduction of new technologies in the market that have not only disrupted the spintronic logic devices market but also emerged as a better alternative to the spintronic technique. CMOS (Complementary Metal-Oxide-Semiconductor) and Magnonics are among a few of the technologies that have increased the competition and also hampered the spintronic logic devices market.

The spintronic logic devices market is segmented based on different devices-

The spintronic logic devices market is segmented based on different devices into metal-based devices and semiconductor-based devices. In Metal-based spintronics electron spin in metallic materials is manipulated and this manipulation of the electron spin is referred to as giant magnetoresistance.

It comprises two types of devices GMR devices and Spin-Transfer Torque. GMR devices have alternate layers of the ferromagnetic and non-magnetic metals and when the external magnetic field is applied to IT then the relative orientation in ferromagnetic layers gets changed. While in STT spin of electrons gets transferred to magnetic moments which further leads to changes in the orientation of the material.

Semiconductor-based spintronic devices make use of semiconducting materials like silicon or organic semiconductors to manipulate the spin of electrons. It offers a combination of electronic logic with spin-based functionalities.

North America region is anticipated to hold a significant share of the spintronic logic devices market.

North America region is anticipated to hold a significant share of the spintronic logic devices market. North America's market dominance in spintronic logic devices is due to leading technological corporations, university research organizations, and favourable regulatory frameworks. Collaborations among industrial actors, research organizations, and government bodies promote the growth and development of spintronics-related technology.

The United States and Canada are prominent players in the semiconductor and electronics sectors, with well-known research universities in spintronics, advanced materials, and nanotechnology, respectively, playing critical roles in spintronic device development.

Key Developments

• February 2024- Synopsys launched the industry's first fully integrated 1.6T Ethernet IP solution, which improved bandwidth and performance for data-intensive AI applications. This approach allowed design teams to construct the quickest chips for AI and data center networking applications and met the demand for high-bandwidth, low-latency processors in hyperscale data centers.
• October 2023 - Everspin Technologies announced the expansion of its flagship industrial, high-density STT-MRAMMED product line, the EMxxLX. The EMxxLX device, launched last year, was the most powerful persistent memory available today. The product series then had a new 4Mb capacity pointed, a smaller footprint package, and an extended industrial temperature range of 105°C.

Company Products

• Spin-transfer Torque MRAM– Everspin's Spin-transfer Torque (STT) MRAM technology employs spin-transfer torque to form a magnetic tunnel junction (MTJ), lowering switching energy and allowing for greater density memory devices. This perpendicular MTJ provides lengthy data retention, compact cell size, increased density, high endurance, and low power, with the magnetic state of the free layer determined by the direction of the polarising current.
• TDF400– The TDF400 Reaction Torque Sensor - Flange from FUTEK is a one-of-a-kind solution for torque auditing applications. It is made of aluminium and has built-in overload protection for up to 400 oz.

Market Segmentation

• By Device Type
  • Metal-based devices.
  • Semiconductor-based.
• By Application
  • Electric Vehicle
  • Industrial Motors
  • Semiconductor Lasers
  • Magnetic Tunnel Transistor
  • Data Storage
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Taiwan
    • Others