IMARC Group, a leading market research company, has recently released a report titled “Intelligent Power Module (IPM) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the intelligent power module (IPM) market size, share, trends and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the Intelligent Power Module (IPM) Market?
The global intelligent power module (IPM) market size reached US$ 1.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.01 Billion by 2028, exhibiting a growth rate (CAGR) of 7.3% during 2023-2028.
What is an Intelligent Power Module (IPM)?
An intelligent power module (IPM) is an advanced module widely utilized for combining high-speed and low-loss insulated gate bipolar transistors (IGBTs), protection circuits, and diode power devices with integrated gate drives. This integration is housed in a single unit, offering exceptional performance. The IPM plays a crucial role in optimizing the distribution and utilization of electrical power within data centers. By using IPMs, the overall design and manufacturing costs can be reduced while simultaneously achieving significant improvements in reliability and system performance. By incorporating advanced current sense IGBT chips, the intelligent power module (IPM) ensures robust protection against short circuits and over-current situations. These chips enable continuous monitoring of the power device current, enhancing the overall effectiveness of the module. The automatically assembled IPMs are compact and reduce time to market, lower costs, and minimize system size. It provides additional benefits such as enhanced temperature monitoring, voltage regulation, and load distribution. As a result, IPM finds extensive applications in various industries, including elevators, consumer electronics, servo drives, inverters, and heating, ventilation, and air-conditioning (HVAC) systems across the globe.
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What are the growth prospects and trends in the Intelligent Power Module (IPM) industry?
The global intelligent power module market is primarily driven by surging demand for energy-efficient consumer electronics due to growing environmental awareness among people. Along with this, these devices extensively incorporate Intelligent Power Modules (IPMs) to enhance their overall performance. In line with this, the surging adoption of these electronics due to digital transformation across various industries is positively influencing market growth. Moreover, there has been a rise in demand for renewable energy sources due to increasing emphasis on sustainable development. In addition, key players investing in renewable power infrastructure worldwide, where IPMs play a critical role in photovoltaic (PV) systems and on-shore and off-shore wind turbine inverters, have catalyzed the market growth. Besides this, the rising popularity of electric and hybrid vehicles among consumers is propelling market growth as IPMs are essential components in these vehicles, aiding in carbon emission reduction and improving overall energy efficiency.
Additionally, the escalating demand for enhanced electrical monitoring systems in inductive cookers, high-frequency welding equipment, motor drives, and uninterruptible power supplies (UPS) has accelerated the product adoption rate. Furthermore, the introduction of innovative IPMs integrated with artificial intelligence (AI) systems that offer real-time network simulation and performance analysis to end users is contributing to the market growth. Other factors, including the widespread availability of high-speed internet, increasing utilization of IPMs in renewable energy plants, inflating consumer disposable incomes, and rapid industrialization, are also anticipated to drive the market further.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Voltage Rating:
- Up To 600V
- More than 1200V
Breakup by Current Rating:
- Up To 100A
- Above 600A
Breakup by Circuit Configuration:
Breakup by Power Device:
Breakup by Application:
- Consumer Electronics
- Servo Drives
- Renewable Energy
Market Breakup by Region:
- North America (United States, Canada)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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Who are the key players operating in the industry?
The report covers the major market players including:
- Fuji Electric Co. Ltd.
- Future Electronics Inc.
- Infineon Technologies AG
- Mitsubishi Electric Corporation
- ON Semiconductor Corporation
- ROHM Co. Ltd.
- Sanken Electric Co. Ltd.
- SEMIKRON Elektronik GmbH & Co. KG
- STMicroelectronics N.V.
- Texas Instruments Incorporated
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