Regional Analysis

Regional Insight for Spintronics market

On the basis of geography, the global Spintronics market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia Pacific holds the largest share 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 by 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.

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