Soaring Demand Set to Propel Intelligent Power Module Market to $4.87 Billion by 2029

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What Is the Expected CAGR for the Intelligent Power Module Market Through 2025?
In recent years, there has been a swift expansion in the intelligent power module market. The market, which is projected to soar from $2.6 billion in 2024 to $2.96 billion in 2025, is expected to register a compound annual growth rate (CAGR) of 13.7%. This growth pattern in the historic period is largely driven by a surge in consumer electronics demand, the proliferation of electric vehicles, increased automation, a heightened emphasis on energy efficiency, and the expansion of data centers.

What's the Projected Size of the Global Intelligent Power Module Market by 2029?
The market size of the intelligent power module is projected to experience substantial growth in the coming years, with a projected value of $4.87 billion in 2029, and a compound annual growth rate (CAGR) of 13.3%. The projected expansion in this period can be credited to factors such as the deployment of 5g infrastructure, the expansion of the medical devices and healthcare industry, the development of telecommunications infrastructure, as well as the growth of aerospace and defense sector. Future trends forecasted include the adoption of sic and gan technology, the development of customized ipms for specific use cases, improved thermal management solutions, a shift towards compact and miniaturized design, and the creation of sustainable and environmentally-friendly ipms.

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Top Growth Drivers in the Intelligent Power Module Industry: What's Accelerating the Market?
The surge in demand for consumer electronic devices is projected to boost the expansion of the intelligent power module in the future. Consumer electronics (CE) refers to all electronic products designed for everyday use by end users or consumers, outside of commercial or professional settings. IPMs are particularly helpful for drive motor frequency converters and different inverters due to their user-friendly nature and high reliability. These devices are well-suited for tasks such as frequency conversion, speed adjustment, electric traction, servo drives, metallurgical machinery, and inverter appliances. A report by GFK, a German firm providing data and intelligence to the consumer goods industry, revealed that sales in the global consumer electronics market (excluding North America) rose by $42.8 billion, marking an 18% increase. This growing demand for consumer electronics contributes significantly to the expansion of the intelligent power module market.

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What Trends Will Shape the Intelligent Power Module Market Through 2029 and Beyond?
The rising trend of strategic alliances and cooperative efforts is emerging as a prominent factor in the intelligent power module market. Major entities in this domain are increasingly leveraging partnerships to strengthen their position in the market. One such example is STMicroelectronics, an electronics and semiconductors manufacture based in Switzerland, which has joined forces with Japan's Sanken Electric Co., Ltd., a provider of analog power semiconductor products. This strategic collaboration aims to create intelligent power modules for high-voltage industrial and automotive products. The focus of the joint venture is to develop and market 650V/50A and 1200V/10A industrial modules to simplify design hurdles and reduce the material requirement for HVAC systems, industrial servo drives, industrial washing machines, and general-purpose inverters above 3 kW. Furthermore, in April 2022, a collaborative announcement was made between the Hong Kong-based Applied Science and Technology Research Institute (ASTRI), Alpha Power Solutions (APS), and the Singapore-based integrated solutions provider, ASM Pacific Technology Limited (ASMPT). They plan to work together to produce the first SiC Intelligent Power Module (IPM) for electric vehicles (EVs), which will be entirely manufactured in Hong Kong.

What Are the Main Segments in the Intelligent Power Module Market?
The intelligent power module market covered in this report is segmented -

1) By Power Device: Insulated-Gate Bipolar Transistor (IGBT), Metal Oxide Semiconductor Field Effect Transistor (MOSFET)
2) By Voltage Rating: Up To 600 V, 601-1,200 V, Above 1,200 V
3) By Vertical: Consumer Electronics, Automotive, Industrial, Aerospace, Defense, Other Verticals
4) By Application: Renewable Energy Generation, Home Appliances, Electric Vehicles, Servo Drives, Other Applications

Subsegments:
1) By Insulated-Gate Bipolar Transistor (IGBT): Standard IGBT Modules, High Voltage IGBT Modules, Low Voltage IGBT Modules
2) By Metal Oxide Semiconductor Field Effect Transistor (MOSFET): Standard MOSFET Modules, High Power MOSFET Modules, Low Voltage MOSFET Modules

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Which Top Companies are Driving Growth in the Intelligent Power Module Market?
Major companies operating in the intelligent power module market include Mitsubishi Electric Corp., ON Semiconductor Corporation, Infineon Technologies AG, Fuji Electric Co. Ltd., Semikron Elektronik GmbH & Co. KG, ROHM Co. Ltd., Microchip Technology Inc., Toshiba Electronic Devices & Storage Corporation, Vincotech GmbH, PowEr*ex Inc., Renesas Electronics Corporation, Silan Semiconductor Manufacturing Group, Power Integrations Inc., Sanken Electric Co. Ltd., Vishay Intertechnology Inc., Fairchild Semiconductor International Inc., International Rectifier Corporation, IXYS Corporation, Future Electronics Inc., Hitachi Power Semiconductor Device Ltd., SanRex Corporation, ABB Ltd., Texas Instruments Inc., STMicroelectronics N.V., Microsemi Corporation, Ideal Power Inc., TECX Inc., Design Criteria Inc., Vicor Corporation, Quail Electronics Inc., TAMURA Corporation

Which Regions Will Dominate the Intelligent Power Module Market Through 2029?
Asia-Pacific was the largest region in the intelligent power module market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the intelligent power module market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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