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The spintronics market in North America is set for considerable expansion from 2021 to 2031, propelled by a growing need for quicker, more energy-efficient, and compact electronic devices. Spintronics, which is an abbreviation for spin transport electronics, represents a revolutionary technology sector that capitalizes on the inherent spin of electrons in addition to their charge for storing and processing information. In contrast to conventional electronics that depend only on electron charge, spintronic devices provide the potential for increased speeds, lower power usage, non-volatility, and superior data processing capabilities. Therefore, spintronics is becoming an essential element for next-generation applications in memory, sensing, logic, and quantum computing. North America, as the location of significant technology hubs and leading semiconductor firms, is leading the way in research and development and commercialization activities within this domain. The region is supported by a robust environment of academic institutions, governmental assistance, and private sector investments, particularly in the United States, where the pursuit of technological dominance in advanced computing has intensified recently.
North America spintronics market is projected to grow by 35.4% annually in the forecast period and reach $8,641.6 million by 2031. Primary applications driving the spintronics market consist of magnetic random-access memory (MRAM), hard disk drives, magnetic sensors, quantum computing components, and spin-based transistors. MRAM, notably, is rapidly gaining traction as a viable substitute for traditional volatile and non-volatile memory technologies due to its high endurance, speed, and low power consumption. Prominent semiconductor manufacturers and defense contractors in the United States are proactively investing in MRAM for both consumer electronic products and critical mission applications, such as aerospace, automotive, and military systems. The automotive sector is also a significant factor, employing spintronic sensors for electric vehicles (EVs), Advanced Driver Assistance Systems (ADAS), and in-cabin functionalities. At the same time, advancements in quantum spintronic technologies are paving the way for scalable quantum computing hardware, an area where firms and institutions in North America are significantly engaged. The competitive arena in North America consists of a blend of multinational corporations, niche startups, and research institutions.
The spintronics market in North America is mainly led by the United States and Canada, both of which are crucial to the global progress of spin-based electronics. The United States leads the regional scene due to its robust semiconductor sector, advanced research and development capabilities, and strong ecosystem of universities, tech corporations, defense firms, and startups. Key U. S. cities like San Jose, Austin, and Boston act as innovation centers where research on spintronic memory (such as MRAM), sensors, and quantum computing is vigorously undertaken. Firms such as Everspin Technologies, IBM, Intel, and Qualcomm are at the cutting edge of spintronics progress, investigating commercial applications ranging from next-generation memory devices to spin-based logic and quantum hardware. Government initiatives like the National Quantum Initiative Act and defense-funded research through DARPA and the Department of Energy offer essential funding and strategic purpose. Canada, although smaller in market size, plays a significant role in core research in spintronics. Institutions like the University of Waterloo, the University of Alberta, and the National Research Council of Canada are recognized for groundbreaking projects in spin dynamics, quantum spintronic systems, and magnetic materials. Canadian researchers engage extensively with U. S. peers and global collaborators, contributing to both academic advancements and practical innovation in the discipline. Furthermore, Canadian policies that promote emerging technologies, research commercialization, and international technology collaboration further elevate the country's position in the North American spintronics arena.
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The North America spintronics market, categorized by device type, features metal-based and semiconductor-based devices, each contributing uniquely to the progress of spin-based electronics. Metal-based devices lead the market, with Giant Magneto Resistance (GMR) and Tunnel Magneto Resistance (TMR) technologies extensively employed in magnetic sensors and data storage applications like MRAM. Spin-transfer torque devices are experiencing notable growth due to their non-volatile memory features and reduced power usage, while spin-wave logic devices, despite being at earlier development stages, are being investigated for future-oriented computing applications. Semiconductor-based devices—including spin diodes, spin filters, and spin field-effect transistors (FETs)—constitute an expanding niche aimed at merging spintronics with conventional CMOS technologies. These devices promise significant applications in logic circuits and quantum computing. From 2021 to 2031, the market is anticipated to witness strong growth in both segments, with metal-based devices retaining market dominance, while semiconductor-based innovations are expected to progress in advanced computing applications. Spintronics showcases varied applications throughout North America, with electric vehicles (EVs), industrial motors, and data storage/MRAM propelling considerable market demand. The automotive industry, especially in the U. S. , is progressively adopting spintronic sensors and energy-efficient motor control systems to aid the shift towards EVs and self-driving vehicles. Data storage, particularly Magnetoresistive Random-Access Memory (MRAM), stands out as a prominent application, with leading technology companies investing in MRAM as a swift, resilient, and energy-efficient substitute for traditional flash memory. Magnetic sensing is also a critical application relevant to industrial automation and medical technologies. Semiconductor lasers with spintronic components are emerging for optical communications and advanced electronics. Additional applications encompass quantum computing, biomedical instrumentation, and aerospace technology. Between 2021 and 2031, MRAM and EV-related applications are anticipated to spearhead market growth, while new domains like quantum spintronics are expected to pave the way for innovation across high-tech sectors in North America.
The North America spintronics market caters to a diverse range of industry verticals, showing considerable uptake in automotive and transportation, IT and telecommunications, electronics and semiconductors, manufacturing, and healthcare. The automotive industry is a vital growth catalyst, utilizing spintronic sensors and control devices for EV powertrains, battery management, and autonomous systems. These innovations enhance reliability, efficiency, and compactness—key aspects for contemporary vehicle platforms. IT and telecommunications sectors deploy spintronic memory, particularly MRAM, for rapid data processing and energy-efficient memory storage, facilitating the expansion of data centers and 5G infrastructure. Electronics and semiconductors form a core vertical where spintronic elements are incorporated into memory chips, logic devices, and signal processing units, with major technology firms driving research and development towards commercial adoption. Manufacturing industries gain advantages from spintronic sensors in automation systems, robotic arms, and precision tools, where detecting magnetic fields and providing real-time feedback are essential. These sensors enhance smarter industrial operations, facilitate predictive maintenance, and improve safety. The healthcare sector is slowly integrating spintronics into advanced diagnostic devices, such as magnetic biosensors and compact imaging systems. These applications hold particular promise in wearable health technology, point-of-care diagnostics, and neural interfaces.
Considered in this report
• Historic Year: 2019
• Base year: 2024
• Estimated year: 2025
• Forecast year: 2030
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Aspects covered in this report
• North America Spintronics Market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation
Based on Device Type, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
• Metal-based Devices
• Giant Magneto Resistance-based Device (GMRs)
• Tunnel Magneto Resistance-based Device (TMRs)
• Spin-transfer Torque Device
• Spin-wave Logic Device
• Semiconductor-based Devices
• Spin Diode
• Spin Filter
• Spin Field Effect Transistor (FETs)
Based on Application, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
• Electric Vehicle and Industrial Motor
• Data Storage/MRAM
• Magnetic Sensing
• Semiconductor Laser
• Other Applications
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By Industry Vertical, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
• Automotive & Transportation
• IT & Telecommunication
• Electronics & Semiconductors
• Manufacturing
• Healthcare
• Other Industry Verticals
The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.
Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to agriculture industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
Table of Contents
1 Introduction 6
1.1 Industry Definition and Research Scope 6
1.1.1 Industry Definition 6
1.1.2 Research Scope 7
1.2 Research Methodology 10
1.2.1 Overview of Market Research Methodology 10
1.2.2 Market Assumption 11
1.2.3 Secondary Data 11
1.2.4 Primary Data 11
1.2.5 Data Filtration and Model Design 12
1.2.6 Market Size/Share Estimation 13
1.2.7 Research Limitations 14
1.3 Executive Summary 15
2 Market Overview and Dynamics 17
2.1 Market Size and Forecast 17
2.1.1 Impact of COVID-19 on World Economy 19
2.1.2 Impact of COVID-19 on the Market 21
2.2 Major Growth Drivers 23
2.3 Market Restraints and Challenges 29
2.4 Emerging Opportunities and Market Trends 32
2.5 Porter’s Fiver Forces Analysis 36
3 Segmentation of North America Market by Device Type 40
4 Segmentation of North America Market by Application 52
4.1 Market Overview by Application 52
4.2 Electric Vehicle and Industrial Motor 54
4.3 Data Storage/MRAM 55
4.4 Magnetic Sensing 56
4.5 Semiconductor Laser 57
4.6 Other Applications 58
5 Segmentation of North America Market by Industry Vertical 59
5.1 Market Overview by Industry Vertical 59
5.2 Automotive & Transportation 61
5.3 IT & Telecommunication 62
5.4 Electronics & Semiconductors 63
5.5 Manufacturing 64
5.6 Healthcare 65
5.7 Other Industry Verticals 66
6 North America Market 2021-2031 by Country 67
6.1 Overview of North America Market 67
6.2 U.S. 70
6.3 Canada 73
6.4 Mexico 75
7 Competitive Landscape 77
7.1 Overview of Key Vendors 77
7.2 New Product Launch, Partnership, Investment, and M&A 80
7.3 Company Profiles 81
Advanced MicroSensors Corporation 81
Atomistix A/S 83
Avalanche Technology Inc. 84
Crocus Technology 85
Everspin Technologies Inc. 86
IBM Corporation 87
Intel Corporation 88
NVE Corporation 89
Spin Memory Inc. 90
Synopsys (QuantumWise) 91
RELATED REPORTS 92
List of Tables:
Table 1. Snapshot of North America Spintronics Market in Balanced Perspective, 2021-2031 16
Table 2. World Economic Outlook, 2021-2031 20
Table 3. World Smartphone Connections, Average Network Connection Speed for Smartphones and Tablets, 2019-2030 26
Table 4. World Mobile Data Traffic by Deployment Mode, 2019-2030, EB/year 27
Table 5. World Mobile Data Traffic by Device, 2019-2030, EB/year 27
Table 6. Main Product Trends and Market Opportunities in North America Spintronics Market 32
Table 7. North America Spintronics Market by Device Type, 2021-2031, $ mn 40
Table 8. North America Spintronics Market: Metal-based Devices by Type, 2021-2031, $ mn 42
Table 9. North America Spintronics Market: Semiconductor-based Devices by Type, 2021-2031, $ mn 48
Table 10. North America Spintronics Market by Application, 2021-2031, $ mn 52
Table 11. North America Spintronics Market by Industry Vertical, 2021-2031, $ mn 59
Table 12. North America Spintronics Market by Country, 2021-2031, $ mn 68
Table 13. U.S. Spintronics Market by Device Type, 2021-2031, $ mn 72
Table 14. U.S. Spintronics Market by Application, 2021-2031, $ mn 72
Table 15. U.S. Spintronics Market by Industry Vertical, 2021-2031, $ mn 72
Table 16. Canada Spintronics Market by Device Type, 2021-2031, $ mn 74
Table 17. Canada Spintronics Market by Application, 2021-2031, $ mn 74
Table 18. Canada Spintronics Market by Industry Vertical, 2021-2031, $ mn 74
Table 19. Mexico Spintronics Market by Device Type, 2021-2031, $ mn 76
Table 20. Mexico Spintronics Market by Application, 2021-2031, $ mn 76
Table 21. Mexico Spintronics Market by Industry Vertical, 2021-2031, $ mn 76
Table 22. Advanced MicroSensors Corporation: Company Snapshot 81
Table 23. Advanced MicroSensors Corporation: Business Segmentation 82
Table 24. Advanced MicroSensors Corporation: Product Portfolio 82
List of Figures:
Figure 1. Research Method Flow Chart 10
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation 13
Figure 3. North America Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2021-2031 15
Figure 4. Industry Value Chain Analysis 17
Figure 5. North America Spintronics Market, 2021-2031, $ mn 18
Figure 6. Impact of COVID-19 on Business 21
Figure 7. Primary Drivers and Impact Factors of North America Spintronics Market 23
Figure 8. World 5G Traffic, 2019-2030, EB/year 26
Figure 9. World Electric Vehicle Market, 2019-2030, $ bn 28
Figure 10. World Data Center Accelerator Market, 2021-2031, $ mn 28
Figure 11. Primary Restraints and Impact Factors of North America Spintronics Market 29
Figure 12. Investment Opportunity Analysis 33
Figure 13. Porter’s Fiver Forces Analysis of North America Spintronics Market 36
Figure 14. Breakdown of North America Spintronics Market by Device Type, 2021-2031, % of Revenue 41
Figure 15. North America Addressable Market Cap in 2022-2031 by Device Type, Value ($ mn) and Share (%) 41
Figure 16. North America Spintronics Market by Device Type: Metal-based Devices, 2021-2031, $ mn 42
Figure 17. North America Spintronics Market by Metal-based Devices: Giant Magneto Resistance-based Device (GMRs), 2021-2031, $ mn 44
Figure 18. North America Spintronics Market by Metal-based Devices: Tunnel Magneto Resistance-based Device (TMRs), 2021-2031, $ mn 45
Figure 19. North America Spintronics Market by Metal-based Devices: Spin-transfer Torque Device, 2021-2031, $ mn 46
Figure 20. North America Spintronics Market by Metal-based Devices: Spin-wave Logic Device, 2021-2031, $ mn 47
Figure 21. North America Spintronics Market by Device Type: Semiconductor-based Devices, 2021-2031, $ mn 48
Figure 22. North America Spintronics Market by Semiconductor-based Devices: Spin Diode, 2021-2031, $ mn 49
Figure 23. North America Spintronics Market by Semiconductor-based Devices: Spin Filter, 2021-2031, $ mn 50
Figure 24. North America Spintronics Market by Semiconductor-based Devices: Spin Field Effect Transistor (FETs), 2021-2031, $ mn 51
Figure 25. Breakdown of North America Spintronics Market by Application, 2021-2031, % of Sales Revenue 53
Figure 26. North America Addressable Market Cap in 2022-2031 by Application, Value ($ mn) and Share (%) 53
Figure 27. North America Spintronics Market by Application: Electric Vehicle and Industrial Motor, 2021-2031, $ mn 54
Figure 28. North America Spintronics Market by Application: Data Storage/MRAM, 2021-2031, $ mn 55
Figure 29. North America Spintronics Market by Application: Magnetic Sensing, 2021-2031, $ mn 56
Figure 30. North America Spintronics Market by Application: Semiconductor Laser, 2021-2031, $ mn 57
Figure 31. North America Spintronics Market by Application: Other Applications, 2021-2031, $ mn 58
Figure 32. Breakdown of North America Spintronics Market by Industry Vertical, 2021-2031, % of Sales Revenue 60
Figure 33. North America Addressable Market Cap in 2022-2031 by Industry Vertical, Value ($ mn) and Share (%) 60
Figure 34. North America Spintronics Market by Industry Vertical: Automotive & Transportation, 2021-2031, $ mn 61
Figure 35. North America Spintronics Market by Industry Vertical: IT & Telecommunication, 2021-2031, $ mn 62
Figure 36. North America Spintronics Market by Industry Vertical: Electronics & Semiconductors, 2021-2031, $ mn 63
Figure 37. North America Spintronics Market by Industry Vertical: Manufacturing, 2021-2031, $ mn 64
Figure 38. North America Spintronics Market by Industry Vertical: Healthcare, 2021-2031, $ mn 65
Figure 39. North America Spintronics Market by Industry Vertical: Other Industry Verticals, 2021-2031, $ mn 66
Figure 40. Breakdown of North America Spintronics Market by Country, 2021 and 2031, % of Revenue 68
Figure 41. Contribution to North America 2022-2031 Cumulative Market by Country, Value ($ mn) and Share (%) 69
Figure 42. U.S. Spintronics Market, 2021-2031, $ mn 71
Figure 43. Canada Spintronics Market, 2021-2031, $ mn 73
Figure 44. Spintronics Market in Mexico, 2021-2031, $ mn 75
Figure 45. Growth Stage of North America Spintronics Industry over the Forecast Period 77
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