PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485759
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485759
Intelligent Power Module Market size was valued at USD 2,980.32 Million in 2023, expanding at a CAGR of 11.82% from 2024 to 2032.
Intelligent Power Modules (IPMs) are highly integrated power semiconductor modules designed for high-efficiency and high-performance applications in motor control and power conversion systems. They combine multiple power components, such as insulated gate bipolar transistors (IGBTs), diodes, gate drivers, and protection circuits, into a single package. There is a growing emphasis on energy efficiency and sustainability, leading to a rising demand for intelligent power modules that can optimize power consumption in various applications. However, integrating intelligent power modules into existing systems can be complex, requiring specialized knowledge and expertise, which may pose challenges for some end-users.
Intelligent Power Module Market- Market Dynamics
Increasing demand for intelligent power modules in consumer electronics
In consumer electronics, consumers are increasingly seeking devices that offer enhanced functionality, efficiency, and performance. Intelligent power modules, which integrate power electronics and control circuitry, enable more efficient power management and control, resulting in improved device performance and longer battery life. For instance, in April 2024, the Semiconductor Industry Association (SIA) announced global semiconductor industry sales totaled $46.2 billion during the year 2024, an increase of 16.3% compared to the 2023 total of $39.7 billion. Therefore, the demand for intelligent power modules (IPMs) is on the rise, fueled by several factors, including the increasing complexity and sophistication of semiconductor applications across various industries.
Intelligent Power Module 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 11.82% over the forecast period (2024-2032)
Based on power device segmentation, insulated-gate bipolar transistor (IGBT) was predicted to show maximum market share in the year 2023
Based on voltage segmentation, 601V - 1,200V was the leading type in 2023
Based on end user segmentation, consumer electronics was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Intelligent Power Module Market is segmented on the basis of Power Device, Circuit Configuration, Voltage, End Users, and Region.
The market is divided into three categories based on power devices: An Insulated-Gate Bipolar Transistor (IGBT) is a type of semiconductor device used in power electronics applications. In an Intelligent Power Module (IPM), which is a module that integrates various power devices and control circuits for high-power applications, IGBTs are often used as the main switching devices.
The market is divided into six categories based on end-users: Intelligent Power Modules (IPMs) are semiconductor modules that integrate power devices, control circuitry, and protection features into a single package. They are commonly used in various applications in consumer electronics due to their efficiency, compactness, and reliability.
Intelligent Power Module Market- Geographical Insights
Geographically, this market is widespread into 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.
The region's market is growing because of North America's highly developed technological infrastructure and high level of electronics manufacturing activities. Additionally, government programs and corporate investments to increase the production of semiconductors and electronics are probably going to benefit the industry. Furthermore, China's rapidly growing automotive and consumer electronics sectors are expected to increase demand for intelligent power modules in the area. The intelligent power module market in China commanded the most market share, while the intelligent power module market in India grew at the fastest rate in the Asia-Pacific area.
Major companies in intelligent power modules are Fuji Electric Co. Ltd., Infineon Technologies AG, Mitsubishi Electric Corp., Semiconductor Corporation, and others. Throughout the forecast period, these major players will employ several methods to grow their market share in the worldwide intelligent power module market, including new product development and introduction, acquisition, partnership and cooperation, and company expansion. Key players that operate internationally and contribute significantly to the market's growth have fragmented it. To acquire a competitive advantage, these players are implementing tactics like product releases. For instance, in August 2023, Fuji Electric Co., Ltd. introduced the launch of the P633C Series 3rd-generation small IPMs, which helps reduce the power consumption of equipment such as home appliances and machine tools.
In July 2023, Onsemi, a leader in intelligent power and sensing technologies, and BorgWarner Inc. a global product leader in delivering innovative and sustainable mobility solutions, announced the two companies are increasing their planned collaboration for silicon carbide (SiC), converting the total deal worth more than $1 billion in lifetime value.
In February 2024, Onsemi Introduced 7th Gen IGBT-based Intelligent Power Modules, which will make efficiency and density easily attainable for designers.
GLOBAL INTELLIGENT POWER MODULE MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Mitsubishi Electric Corporation
Semiconductor Components Industries, LLC (onsemi)
Infineon Technologies AG
Fuji Electric Co., Ltd.
Semikron Danfoss
ROHM CO., LTD.
STMicroelectronics
Alpha and Omega Semiconductor
Sensitron Semiconductor
Ideal Power, Inc.
Cissoid
Others