Intelligent Power Module Market
The Intelligent Power Module Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Intelligent Power Module Global Market Report 2024, The intelligent power module market size has grown rapidly in recent years. It will grow from $2.27 billion in 2023 to $2.64 billion in 2024 at a compound annual growth rate (CAGR) of 16.1%. The growth in the historic period can be attributed to rise in demand for consumer electronics, expansion of electric vehicle (ev), rise in automation, increased focus on energy efficiency, data center expansion.
The intelligent power module market size is expected to see rapid growth in the next few years. It will grow to $4.48 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%. The growth in the forecast period can be attributed to 5g infrastructure deployment, growing medical devices and healthcare sector, growing telecommunications infrastructure, expansion of aerospace and defense sector. Major trends in the forecast period include integration of sic and gan technology, customized ipms for specific applications, enhanced thermal management solutions, focus on miniaturization and compact design, sustainable and eco-friendly ipms.
Rising demand for consumer electronic devices is expected to propel the growth of the intelligent power module going forward. Consumer elec+B98tronics (CE) is the term used to describe any electronic product intended for end users’ or consumers’ daily and non-commercial or professional use. IPMs are suitable for the frequency converters of drive motors and different inverters due to their ease of use and high reliability, and they are an ideal power electronic device for frequency conversion and speed adjustment, electric traction, servo drives, metallurgical machinery, and inverter appliances. For instance, in September 2021, according to an article published by GFK, a Germany-based data, and intelligence provider to the consumer goods sector, in the first half of 2021, the global consumer electronics market (excluding North America) witnessed sales increase by $42.8 billion, or 18%. Therefore, the rising demand for consumer electronic devices is driving the growth of the intelligent power module market.
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The intelligent power module market covered in this report is segmented –
1) By Power Device: Insulated-Gate Bipolar Transistor (IGBT), Metal Oxide Semiconductor Field Effect Transistor (MOSFET)
2) By Voltage Rating: Up To 600 V, 601–1,200 V, Above 1,200 V
3) By Vertical: Consumer Electronics, Automotive, Industrial, Aerospace, Defense, Other Verticals
4) By Application: Renewable Energy Generation, Home Appliances, Electric Vehicles, Servo Drives, Other Applications
Strategic partnerships and collaborations have emerged as the key trends gaining popularity in the intelligent power module market. Key players operating in the intelligent power module sector are focused on partnerships and collaborations to reinforce their position. For instance, in October 2020, STMicroelectronics, a Switzerland-based electronics and semiconductors manufacturer, partnered with Sanken Electric Co., Ltd., a Japan-based supplier of analog power semiconductor products; to develop intelligent power modules for high-voltage industrial and automotive products. With this collaboration, they intended to develop and jointly market 650V/50A and 1200V/10A industrial modules that make it easier to overcome design obstacles and reduce the number of materials needed for HVAC systems, industrial servo drives, industrial washing machines, and general-purpose inverters over 3 kW. Moreover, in April 2022, Hong Kong Applied Science and Technology Research Institute (ASTRI), ASM Pacific Technology Limited (ASMPT), a Singapore-based integrated solutions provider, and Alpha Power Solutions (APS), a Hong Kong-based semiconductor technology company—have announced that they are working together to create the first SiC Intelligent Power Module (IPM) for electric vehicles to be manufactured entirely in Hong Kong (EVs).
The intelligent power module market report table of contents includes:
1. Executive Summary
2. Intelligent Power Module Market Characteristics
3. Intelligent Power Module Market Trends And Strategies
4. Intelligent Power Module Market – Macro Economic Scenario
5. Global Intelligent Power Module Market Size and Growth
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31. Global Intelligent Power Module Market Competitive Benchmarking
32. Global Intelligent Power Module Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Intelligent Power Module Market
34. Intelligent Power Module Market Future Outlook and Potential Analysis
35. Appendix
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