What Role Electric Vehicles Play in the Growth of Spintronics Market

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The spintronics market would grow from its value of $362.7 million in 2019 to $12,845.6 million by 2030, at a 34.8% CAGR during 2020–2030 (forecast period).

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1 © PS Intelligence. All rights reserved Research Methodology Scope of Work Spintronics Market Mar 2nd 2020

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2 © PS Intelligence. All rights reserved In 2019 the global spintronics market generated a revenue of 362.7 million and is projected to attain a value of 12845.6 million by 2030 witnessing a 34.8 CAGR during the forecast period 2020 –2030. On the basis of end user the healthcare division is predicted to register the fastest growth during the forecast period which is attributed to the technological advancements in spintronic-based magnetic sensors. These sensors are projected to be used for detecting tumor cells in the human body. In terms of device type the metal-based category is held the larger share of the spintronics market in 2019 as metal-based spintronics including giant magneto resistance GMR and tunnel magneto resistance TMR offer low energy consumption and high-speed data transfer. The semiconductor-based category is projected register higher CAGR during the forecast period as these spintronics consume less power and are more efficient. The sales of semiconductor-based spintronics is further predicted to increase in the coming years because of the rising adoption of internet of things and increasing deployment of 5G. Request to Get the Sample Report : https://www.psmarketresearch.com/market- analysis/spintronics-market/report-sample Geographically North America dominated the spintronics market in 2019 which was primarily ascribed to the rising requirement for spintronics due to the expanding cloud market in the region. Apart from this the import of optical hardware including spintronic-based transmitters and receivers has risen because of their increasing requirement for supporting 5G network infrastructure in North America.

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