As per Persistence Market Research’s new industry analysis, the global intelligent power modules market is poised to surge at a CAGR of over 12% through 2031.
Engineers explore the characteristics of insulated-gate bipolar transistors (IGBTs), such as low-saturation and high speed voltage, with the help of intelligent power modules (IPMs), and these characteristics are further combined with strong protection technologies. There is an increase in the demand for energy efficiency in consumer electronics, which is one of the major factors creating opportunities for IPM manufacturers.
Design engineers are facing many challenges to reduce energy consumption and limit energy costs. A smart solution of integrating all the necessary power semiconductors and the driver circuit in a single integrated package is offered by IPMs.
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Additionally, intelligent power modules can be used for driving induction motors more effectively. There is also an increase in use of intelligent power modules for power conversion in inverters, as they help in decreasing radiated noise by more than 6dB.
All the above factors, and more, which are mentioned in the full research report, are driving demand for intelligent power modules.
Key Takeaways from Market Study
- North America was the dominant market in 2020 in terms of value. However, South Asia & Pacific is expected to be one of the key markets for sustainable revenue generation from intelligent power modules.
- Industrial is the key application in the global market, and the sub-segment is estimated to register a high CAGR among all the applications in the global marketplace.
- The need for efficient power use and industrial automation for various industrial applications is driving demand for intelligent power modules.
- Accelerated adoption of efficient intelligent power modules is estimated to enable the market in India to record the highest CAGR of 15.5% over the forecast period of 2021 to 2031.
- The intelligent power modules market in Japan is expected to expand at a CAGR of around 13% over the next ten years, while that in Germany at 12.4%
“Intelligent power modules can be used for improvements in motors used in residential and industrial applications, as they can drive induction motors more effectively. Thus, increasing need for intelligent power modules for motor control applications will help the market grow at a rapid pace,” says a Persistence Market Research analyst.
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COVID-19 Pandemic Impact Analysis
There has been a change in the demand patterns for major semiconductor end markets. The semiconductor industry had to adjust as the pandemic shifted demand for intelligent power module (IPM) applications. As such, decreased demand for intelligent power modules will extend beyond 2020.
The intelligent power modules market saw a steep decline in 2020 due to the highly disruptive global pandemic, as demand for power modules plunged from key markets of automotive electronics and smartphones. Discrete and module segments of semiconductors witnessed flat market growth in 2020.
Before the pandemic, a significant rise in the wireless market was forecasted. Now, the wireless market will see steady growth as the COVID-19 pandemic has come into sharp focus. Revenue from MOSFET power modules is also expected to decrease due to supply chain interruptions and store closures.
Find More Valuable Insights
Persistence Market Research puts forward an unbiased analysis of the global intelligent power modules market, providing historical demand data (2016-2020) and forecast statistics for the period 2021-2031.
To understand the opportunities the market is segmented on the basis of voltage rating (up to 600V, 650V, and 1200V), power devices (IGBT-based IPMs, and MOSFET-based IPMs), and application (consumer electronics, automotive, industrial, renewal energy, and others), across six major regions of the world.
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