The Global Intelligent Power Module Market size is expected to reach $2.5 billion by 2028, rising at a market growth of 8.4% CAGR during the forecast period.
Intelligent power modules (IPMs) are hybrid power devices that combine a high-speed, low-loss insulated-gate bipolar transistor (IGBT) with an improved protection circuit and gate drive. IPMs use IGBT semiconductors with high tech current sensing to provide extremely effective short-circuit or over-protection. This makes it possible to keep an eye on the current going through the power device.
In addition, IPM's integrated under-voltage or over-lockout protection strengthens the system's dependability. Lastly, the automatically built intelligent power modules are intended to minimize time to market, cost, and system size. Intelligent power modules, or IPM modules, are utilized in electrical equipment and the technology sector for the primary purposes of power control and power conservation. Concerns about global warming are anticipated to increase the significance of this issue during the predicted period.
Worldwide, machines are so adaptable, compact, and effective at what they are designed to perform that they have supplanted humans in many manual tasks. In recent years, the demand for machinery and electronic equipment has expanded dramatically, and it is anticipated that this trend will continue or possibly accelerate in the years to come. Furthermore, automation modernization in various industries, particularly process automation and control automation equipment, is also anticipated to boost the intelligent power module market.
The spread of the pandemic has affected the worldwide supply chain, resulting in a substantial supply chain deficit. Due to a shortage of raw materials, key participants in the intelligent power module market experienced a temporary slowdown, resulting in a revenue decline for the fiscal year 2020-2021. Yet, the market is anticipated to recover and remain in the growth phase during the forecasted period. In an effort to mitigate the negative effects of covid-19, the key companies in the intelligent power module market have reduced their R&D resources and shifted their attention to next-generation technologies.
Increasing production and sales of plug-in electric vehicles (PEVs) are anticipated to generate tremendous opportunities for the power electronics industry in the transportation application segment. In addition, the growing number of charging stations is driving the demand for power electronic components like intelligent power modules (IPMs), insulated gate bipolar transistors (IGBT), power management integrated circuits (PMICs), and standard & power integrated modules. In light of these factors, the intelligent power module market is estimated to grow with the surging demand and manufacturing of EVs worldwide.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The below illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
The most significant benefit of SiC is its dramatically increased efficiency. In addition to its near-immediate adoption in energy-focused businesses, such as electric vehicles and solar energy, SiC boosts the efficiency of electronics among industries and contributes to the global reduction of carbon footprint. SiC is used in photovoltaics, uninterruptible power supplies, motor drives, and power supplies. The increased adoption of GaN & SiC materials in several applications is predicted to contribute to the market expansion significantly.
The businesses active in the intelligent power modules market are primarily concerned with integrating many features onto a single chip, which results in an intricate design. The designing & integration of complex devices calls for specialized skill sets, well-tested methodologies, and tool sets, all of which contribute to a rise in the devices' overall cost. It is anticipated that the high price of the devices would slow the transition toward more modern technical devices, which in turn is anticipated to constrain the growth of the intelligent power module market.
By voltage, the intelligent power module market is segmented into up to 600V, 601V to 1200V, and above 1200V. In 2021, the 600 V segment dominated the intelligent power module market with maximum revenue share. IPMs with voltage ratings up to 600 V have certain benefits, including a quicker time to market, greater dependability, and less expensive & smaller systems. IGBTs and high-voltage MOSFETs that are reliable and efficient are used in IPMs with voltage ratings up to 600 V that are designed specifically for variable frequency drives.
Based on current rating, the intelligent power module market is bifurcated into up to 100A, 101A to 600A, and above 600A. The 101A to 600A segment recorded a remarkable revenue share in the intelligent power module market in 2021. The power modules within 101A to 600A current rating held in achieving compact dimensions and minimizing power loss in industrial robots, machinery's converters and motor drives. Intelligent power modules with a high current rating will be in great demand due to the growth of industrial automation and robotics in the industrial sector to obtain higher productivity. As a result, the market will witness significant growth in this segment.
On the basis of circuit configuration, the intelligent power module market is fragmented into 6-Pack, 7-Pack, bridge, and others. The bridge segment garnered a significant revenue share in the intelligent power module market in 2021. A bridge circuit is an electrical circuitry where two circuit branches, typically parallel, are "bridged" by a third branch connected to the first two branches somewhere in between. One of the intermediary bridging points is frequently modifiable when used in this way because the bridge was initially designed for laboratory measuring reasons. Nowadays, bridge circuits are used in a wide range of linear and non-linear processes, including filtering, power conversion, and instrumentation.
By power devices, the intelligent power module market is divided into insulated-gate bipolar transistor (IGBT), metal-oxide-semiconductor field-effect transistor (MOSFET), and others. The insulated-gate bipolar transistor (IGBT) segment registered the maximum revenue share in the intelligent power module market in 2021. The IGBT-based intelligent power module contains a control IC with an IGBT drive circuit & protection circuit to maintain high system dependability and facilitate peripheral circuit design.
Based on vertical, the intelligent power module market is classified into consumer electronics, industrial, transportation, IT & telecom, and others. In 2021, the industrial segment witnessed the highest revenue share in the intelligent power module market. These modules are commonly employed for motor control applications, rectification procedures, invertor techniques, MOSFET (Metal–Oxide–Semiconductor Field-Effect Transistor), and IGBT switches. Expanding industrialization and rising IPM use in various industrial applications are one of the primary drivers driving market expansion.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 1.4 Billion |
| Market size forecast in 2028 | USD 2.5 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 8.4% from 2022 to 2028 |
| Number of Pages | 334 |
| Number of Table | 564 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market Share Analysis, Companies Strategic Developments, Company Profiling |
| Segments covered | Voltage, Circuit Configuration, Vertical, Current Rating, Power Device, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the intelligent power module market is analyzed across North America, Europe, Asia Pacific and LAMEA. The Asia Pacific region led the intelligent power module market by generating the largest revenue share in 2021. The consumer electronics and automotive industries are expanding quickly in China, which is projected to raise demand for intelligent power modules. This expansion is being fueled by rapid infrastructural development and industrialization. In addition, more industrial activity has been seen as a result of governments emphasizing producing power from renewable sources.
Free Valuable Insights: Global Intelligent Power Module Market size to reach USD 2.5 Billion by 2028
The major strategies followed by the market participants are Expansions. Based on the Analysis presented in the Cardinal matrix; Texas Instruments, Inc. is the forerunner in the Intelligent Power Module Market. Companies such as Infineon Technologies AG, STMicroelectronics N.V., and Mitsubishi Electric Corporation are some of the key innovators in Intelligent Power Module Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mitsubishi Electric Corporation, Fuji Electric Co., Ltd., Infineon Technologies AG, Rohm Co., Ltd., STMicroelectronics N.V., Microchip Technology Incorporated, Texas Instruments, Inc., Toshiba Electronic Devices & Storage Corporation (Toshiba Corporation), Renesas Electronics Corporation and ON Semiconductor Corporation.
By Voltage
By Circuit Configuration
By Vertical
By Current Rating
By Power Device
By Geography
The global Intelligent Network Market size is expected to reach $2.5 billion by 2028.
Rising acceptance of GaN & SiC materials in automotive & power semiconductor uses are driving the market in coming years, however, Slower adoption of new technologies and complex structure of IPMs may hinder growth restraints the growth of the market.
Mitsubishi Electric Corporation, Fuji Electric Co., Ltd., Infineon Technologies AG, Rohm Co., Ltd., STMicroelectronics N.V., Microchip Technology Incorporated, Texas Instruments, Inc., Toshiba Electronic Devices & Storage Corporation (Toshiba Corporation), Renesas Electronics Corporation and ON Semiconductor Corporation.
The 6-Pack segment acquired maximum revenue share in the Global Intelligent Power Module Market by Circuit Configuration in 2021 thereby, achieving a market value of $1.1 billion by 2028.
The Up to 100A segment is leading the Global Intelligent Power Module Market by Current Rating in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.5 billion by 2028.
The Asia Pacific market dominated the Global Intelligent Power Module Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.1 billion by 2028.
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