Longer-term economic, social and environmental impacts
Several possible industrial products for TSS devices are currently envisaged in the scientific community. First, TSS allow for discrete magnetic states being of smaller size and energetically more stable than their single‑domain counterparts. For this reason, it is envisaged that TSS may be used as bits to store information in future memory and logic devices, where the state of the bit is encoded by the existence or non-existence of the TSS. This will have significant economic impact, since the global digital storage device market is anticipated to reach $6.27 billion by 2022. Second, the position of TSS within a nanostructure may be manipulated using low current densities. Thus, TSS also provides promising candidates for future racetrack‑type storage or logic devices. Third, TSS exhibit strong gyrotropic and breathing modes at GHz frequencies, which might open the avenue for TSS-based microwave applications.
A major goal of the EU is a 20 % increase of energy efficiency and a corresponding reduction of CO2 gas emissions by 2020. The use of low power magnetic logic and storage devices based on TSS could lead to more energy efficient ICT and CE devices enabling a significant reduction of global energy consumption.
Society needs technologies based on innovative and disruptive products and concepts. TSS offers the potential to create novel spin-based electronic devices with improved speed, reliability and significantly decreased power consumption.