PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1477156
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1477156
Automotive Intelligent Power Devices Market size was valued at USD 1,586 Million in 2023, expanding at a CAGR of 12.5% from 2024 to 2032.
The Automotive Intelligent Power Devices Market focuses on developing and implementing intelligent power devices like modules and circuits to boost the efficiency, reliability, and performance of vehicle electrical systems. These devices facilitate advanced functions such as power management and motor control in electric and hybrid vehicles, contributing to vehicle electrification and autonomy. Integrating advanced semiconductor technologies like SiC and GaN for better power density and efficiency is driving the market growth. Challenges include high initial costs, complex integration, and compatibility issues with existing vehicle systems. Opportunities arise from the rising demand for electric and hybrid vehicles and the development of smart automotive systems, fueling the need for intelligent power devices.
Automotive Intelligent Power Devices Market- Market Dynamics
Increasing the role of intelligent power devices in enhancing the safety and reliability in the automotive industry
The automotive industry is increasingly relying on intelligent power devices to enhance safety and reliability within vehicle systems. These devices incorporate advanced features such as built-in protection mechanisms to mitigate risks associated with short circuits, overloads, and overheating. As a result, they contribute significantly to improving the overall safety and longevity of automotive systems. According to the European Automobile Manufacturers' Association (ACEA), automotive (car) sales in the EU increased by almost 17% in the first three quarters of 2023, and are expected to grow by 12% for the full year. Additionally, advancements in semiconductor technology have paved the way for the development of more sophisticated and efficient intelligent power devices, further fueling their adoption across the automotive industry.
Automotive Intelligent Power Devices Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 12.5% over the forecast period (2024-2032)
Based on Component Type segmentation, Power Integrated Circuits was predicted to show maximum market share in the year 2023
Based on Vehicle Type segmentation, Passenger Cars was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Automotive Intelligent Power Devices Market is segmented based on Component Type, Vehicle Type, Application, and Region.
The market is divided into four categories based on Component Type: Power Integrated Circuits (ICs) are compact devices integrating multiple functions like power switching and control into a single chip. Intelligent Power Modules (IPMs) merge power switches with control circuits for efficient power management. Gate Drivers are vital for controlling power device switching. Sensors monitor parameters like temperature and current in the vehicle's electrical system.
The market is divided into four categories based on Vehicle Type: Regarding vehicle type segmentation, it covers Passenger Cars, Commercial Vehicles, Electric Vehicles, and Hybrid Vehicles, reflecting the diverse applications of intelligent power devices across different automotive sectors.
Automotive Intelligent Power Devices Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
In North America, the market is driven by the increasing adoption of electric and hybrid vehicles, supported by government initiatives promoting sustainable transportation solutions. Europe leads in the development of advanced semiconductor technologies for intelligent power devices, with countries like Germany and the UK at the forefront of innovation. The Asia Pacific region is witnessing rapid growth due to the expanding automotive industry in countries like China, Japan, and South Korea, coupled with rising investments in electric vehicle infrastructure. In Latin America and the Middle East & Africa, the market is growing steadily, driven by the gradual shift towards electric mobility and the modernization of automotive manufacturing facilities.
Companies such as Infineon Technologies AG, Texas Instruments Incorporated, and Mitsubishi Electric Corporation are among the leading players, leveraging their extensive expertise in semiconductor technologies to develop innovative power devices tailored for automotive applications. These players focus on research and development to enhance product performance, reliability, and efficiency, while also expanding their global footprint through collaborations, partnerships, and acquisitions. Additionally, emerging players like ON Semiconductor Corporation and Fuji Electric Co., Ltd. are gaining traction by introducing disruptive solutions and targeting niche segments within the automotive industry.
In January 2023, Renesas introduced the RAJ2810024H12HPD, a new Intelligent Power Device (IPD) tailored for managing power distribution within vehicles with enhanced safety and flexibility.
In October 2023, Toshiba unveiled two 600V small Intelligent Power Devices (IPDs) designed for brushless DC motor drive applications like air conditioners, air cleaners, and pumps.
GLOBAL AUTOMOTIVE INTELLIGENT POWER DEVICES MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Analog Devices, Inc.
Cree, Inc.
Diodes Incorporated
Fuji Electric Co., Ltd.
Infineon Technologies AG
Maxim Integrated Products, Inc.
Microchip Technology Inc.
Mitsubishi Electric Corporation
NXP Semiconductors N.V.
ON Semiconductor Corporation
Renesas Electronics Corporation
ROHM Co., Ltd.
STMicroelectronics N.V.
Texas Instruments Incorporated
Toshiba Corporation
Vishay Intertechnology, Inc.
Others