Electrifying Precision: Global Intelligent Power Module Market Primed for USD 3.8 billion by 2027 - TMR Study

The global intelligent power module (IPM) market is expected to grow to USD 3.8 billion by 2027, at a CAGR of 8% from 2022 to 2027. The growth of the market is attributed to the rising demand for IPMs from the automotive, consumer electronics, industrial, and renewable energy sectors.

Intelligent power modules (IPMs) are advanced power semiconductor modules that combine high-voltage power devices, such as insulated gate bipolar transistors (IGBTs) or MOSFETs, with gate drivers and protection features in a single package. IPMs are widely used in applications that require efficient power management, high switching frequencies, and compact designs.

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Key Players:

Key players in the IPM market include semiconductor manufacturers, electronics companies, and industrial automation providers. Some prominent organizations in this market include:
• Mitsubishi Electric Corp.
• Fuji Electric Co., Ltd.
• SEMIKRON International GmbH
• Infineon Technologies AG
• ON Semiconductor Corporation
• STMicroelectronics N.V.
• ROHM Co., Ltd.
• Sanken Electric Co., Ltd.
• Microchip Technology Inc.

Recent Developments:

Here are some recent developments of companies in the global intelligent power module market,

Year:2023

• Infineon Technologies AG announced the launch of its new CIPOS Maxi IPM IM828 series, a 1,200 V transfer molded silicon carbide (SiC) integrated power module. This is the first product of its kind in the world for this voltage class.
• Mitsubishi Electric Corporation announced that it is investing over USD 2 billion to build a third module at its Malaysian facility in Kulim. The new module will focus on the production of silicon carbide (SiC) and gallium nitride (GaN) power modules, and is expected to generate an additional USD 2 billion in revenue each year.
• STMicroelectronics N.V. announced the launch of its new STM32G7 MCU for intelligent power modules. The STM32G7 MCU features a high-performance Arm Cortex-M7 processor, a dedicated motor control peripheral, and a variety of other features that make it ideal for use in intelligent power modules.

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Market Drivers
Several factors are driving the growth of the IPM market, including:

• Energy Efficiency: The demand for energy-efficient solutions in various industries to reduce power consumption.
• Miniaturization: The trend toward compact and integrated power modules for space-saving designs.
• Industrial Automation: The adoption of IPMs in motor drives and automation systems for precise control and efficiency.

Challenges
The IPM market faces certain challenges, such as:

• Complex Integration: The complexities of integrating power devices, drivers, and protection circuits into a single module.
• Cost Constraints: Balancing the cost of advanced IPMs with economic feasibility, particularly in price-sensitive industries.
• Technological Advancements: Keeping up with rapid technological advancements in power semiconductor devices and designs.

Opportunities
Opportunities in the IPM market include:

• Innovation: Ongoing research and development to improve IPM technology, including enhanced efficiency and reliability.
• Market Expansion: Exploring new applications and industries for IPMs, such as electric vehicles and renewable energy systems.
• Environmental Sustainability: Addressing sustainability concerns by developing more energy-efficient and eco-friendly power modules.

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Market Segmentation
The IPM market can be segmented based on various criteria, including power rating, voltage rating, application, and region:

• Power Rating: IPMs are available in various power ratings, ranging from low power for consumer electronics to high power for industrial applications.
• Voltage Rating: Different voltage ratings are designed for specific applications, such as low-voltage drives or high-voltage inverters.
• Application: IPMs are used in various applications, including motor drives, renewable energy systems, automotive, and consumer electronics.
• Region: The market spans regions such as North America, Europe, Asia-Pacific, and Latin America.

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