in the global Spintronics market, followed by North America, owing to increasing adoption of
IoT connections and technologies such as fleet management, smart homes, Advanced Driver
Assistance System (ADAS), self-driving technology, and connected vehicles among others. China
is expected to lead the Spintronics market in Asia Pacific region, owing to the support offered
by government initiatives. For instance, 13th Five-Year Plan, Internet, and Made in China 2025
which are majorly related to technology advancement such as IoT connection, ADAS, connecting
vehicles and others. Thus, this trend has directly perceived in the ongoing R&D initiatives in
China. In 2013, China started experimenting on Spintronics and has experienced a steady
growth. Furthermore, the country had around 4,085 citations and patents in 2016. DRAM and
SRAM are the current storage solution in China. Moreover, Magnetic RAM (MRAM) is expected
to hold major market share among memory storage devices in near future. Furthermore, vehicle
sales in China reached over 29 million in 2017, growth rate of 3.2% as compared to 2016.
Furthermore, China register the highest sales of electric vehicles and had 2.2 % share of electric
vehicle in 2017, followed North America, which witnessed 1.2% share of electric vehicle in the
same year. Thus, significant growth in sales of vehicles in China is driving growth of sensors and
storage device as it is the integral part of vehicles. Hence, with the growing application of
Spintronics in vehicles is fueling the Spintronics market growth.
Key Players in Spintronics Market
Major players operating in the global Spintronics market include Quantum Wise, NVE
Corporation, Organic Spintronics, IBM Corporation, Plures Technologies, Advanced Micro
Sensors, Everspin Technologies, Inc., Spin Transfer Technology, Crocus Technology, and Intel
Corporation.
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Global Spintronics Market Taxonomy
Global spintronics market is segmented on the basis of device type, application, and region.
On the Basis of Device Type
o Semiconductors-Based Spintronics
o Alloy-Based Spintronics
o Metallic-Based Spintronics