Kings Research projects the global spintronics market to surge significantly over the forecast period. The transformation is being propelled by rapid adoption of spintronic memory (MRAM), expanded use of magnetic sensors in electric vehicles (EVs) and industrial motors, and intensive R&D investments in low-power, ultra-fast electronic components.

The global spintronics market size was valued at USD 2310.8 million in 2023 and is projected to grow from USD 3114.3 million in 2024 to USD 25463.3 million by 2031, exhibiting a CAGR of 35.01% during the forecast period.

Executive summary

Spintronics — the class of technologies that exploit the spin of electrons in addition to their charge — is moving from laboratory curiosity to commercial mainstream. According to Kings Research, the market is forecast to expand rapidly through 2031. This growth is underpinned by demand for high-performance, non-volatile memory (MRAM), next-generation sensors for automotive and industrial applications, and interest from cloud, AI and edge computing suppliers seeking faster, lower-power memory and logic options.

Key highlights:

• Strong year-on-year expansion forecast.
• Asia Pacific projected as the fastest-growing region.
• North America held a leading share in the base year.
• Metal-based devices dominated device type share.

Unlock Key Growth Opportunities: https://www.kingsresearch.com/spintronics-market-1968

List of Key Companies in Spintronics Market:

• Intel Corporation
• IBM
• TOSHIBA CORPORATION
• Seagate Technology LLC
• Everspin Technologies Inc.
• NVE Corporation
• Allegro MicroSystems, Inc.
• Synopsys, Inc
• Infineon Technologies AG
• Spintec.fr
• Samsung
• STMicroelectronics
• Avalanche Technology Inc.
• Renesas Electronics Corporation.
• Microchip Technology Inc.

Market overview and growth drivers

The spintronics sector is being reshaped by converging macro and technology trends. Data-intensive applications such as AI, cloud services and 5G edge processing demand memory that is fast, non-volatile and energy efficient; MRAM and related spintronic memories answer that need. Simultaneously, automotive electrification and advanced driver assistance systems (ADAS) require compact, reliable sensors and robust memory for on-board processing — fuelling uptake in the EV & industrial motor application segment. Public and private R&D funding, along with semiconductor supply-chain initiatives, are accelerating commercialization and capacity scale-up.

Market dynamics

Drivers

• Rapid adoption of MRAM in memory hierarchies for low-power, high-endurance applications.
• Electric vehicle electrification and industrial motor automation increasing demand for magnetic sensing and robust memory.
• Strong regional investment elevating local R&D and manufacturing capacity.

Challenges

• High manufacturing complexity and cost for spintronic devices.
• Materials and fabrication scaling hurdles: achieving yield parity with mainstream CMOS remains nontrivial.

Opportunities

• Integration of spintronics with 2D electron systems and oxide interfaces could unlock new device classes.
• New application verticals such as wearables, industrial IoT, and on-chip security present early high-value niches.

Trends shaping the market

Kings Research identifies several persistent trends:

• Shift toward ultra-fast, ultra-low-power electronics enabled by advanced materials research.
• Broadening use of MRAM from niche industrial applications into mainstream embedded memory roles.
• Strategic partnerships and IP plays as established semiconductor firms and startups aim to build product ecosystems.

Segmentation — by device & application

By device:

• Metal-based devices — dominated revenue share; projected to remain a leading device class due to favorable speed, energy and scalability characteristics.
• Semiconductor-based devices — positioned for strong growth where monolithic integration with CMOS is required.

By application:

• Electric Vehicle & Industrial Motor — held the largest market share in the base year, reflecting the importance of high-reliability sensors and persistent memory.
• Data Storage / MRAM — continues to be the marquee spintronics application, enabling low-latency, non-volatile memory.
• Magnetic Sensing — applied across automotive, industrial, consumer and medical devices.

Regional analysis

Kings Research divides the market into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America led the market in the base year, supported by concentration of semiconductor firms, research labs and government funding initiatives. Asia-Pacific is forecast as the fastest-growing region, driven by manufacturing scale-up, strong electronics demand, and policy support in countries such as China, Japan, South Korea and India. Europe remains an innovation hub, while Middle East, Africa and South America represent emerging markets.

Innovation and R&D highlights

Breakthroughs at materials and device levels — such as demonstrations of spin-polarized two-dimensional electron gases and improved tunnel-magnetoresistance stacks — are progressively de-risking advanced spintronic designs. These advances are central to long-term market value creation.

Market forecasts and scenarios

Kings Research’s forecast assumes accelerating MRAM adoption, broad uptake of magnetic sensors in automotive/industrial domains, and successful scale-up of manufacturing capacity. Upside scenarios could materialize if major cloud and AI infrastructure vendors adopt spintronic memory at scale or if materials breakthroughs significantly reduce per-bit costs. Conversely, slower adoption or persistent manufacturing cost gaps could temper growth.

Strategic recommendations

• Manufacturers & OEMs: Prioritize partnerships with foundries and MRAM specialists to secure early access to process flows and wafers.
• Startups & IP owners: Focus R&D on integration-friendly spintronic cells and packaging that reduce BOM and assembly complexity.
• Investors: Monitor MRAM adoption in automotive and enterprise markets as leading indicators.
• Policymakers & funders: Continue targeted support for semiconductor packaging, materials research and pilot production lines.

Quotes

“Spintronics is entering a decisive commercialization phase. MRAM and high-performance magnetic sensors are solving real problems in EVs, industrial automation and edge computing — this is where the market’s multi-billion-dollar opportunity begins,” said the authoring analyst at Kings Research.

Risks & mitigation

Key risks include production cost, yield challenges, and competition from alternative memory technologies. Mitigation strategies include co-development agreements with established fabs, cost engineering at packaging levels, and targeted application focus where MRAM’s endurance and speed provide clear ROI.

Closing outlook

Kings Research’s comprehensive analysis paints a bullish picture: spintronics is poised to transition from niche to mainstream across several high-value applications. Stakeholders who combine material innovation, manufacturing partnerships and application-led commercialization stand to capture disproportionate value as the spintronics revolution unfolds.

About Kings Research

Kings Research is a market intelligence firm providing industry reports and forecasts across technology and industrial sectors. The spintronics report contains detailed analysis covering device types, applications, regional breakdowns and competitive benchmarking.

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