Intelligent Power Module (IPM) Market size, share, growth, trends, segmentation, top key players, strategies, development status, major application, demand, statistics, competitive landscape and forecast.
The global intelligent power module (IPM) market was valued at USD 1.82 billion in 2019 and is expected to reach a value of USD 3.01 billion by 2025 at a CAGR of 8.81%, during the forecast period. Trends in the personal computing industry, such as smaller system size,s faster processors, and the need to support advanced applications, are expected to promote the growth of the market studied.
– As the products are being deployed, several changes can be incorporated in the implementation of intelligent power modules, to accommodate changes in design or basic structure (such as the addition of a rail or an increase in the current or amperage). The flexibility of systems can be provided by the use of SMBus and PMBus, which is not possible with traditional analog power modules.
– Compact designs of the products can also be made possible with the use of intelligent power modules. Owing to the implementation of intelligent power modules, the reliability of the systems also increases.
– Owing to initiatives rolled out by various governments, to preserve the environment and reduce CO2 emission, the adoption of intelligent power modules has witnessed a marked increase, in the automotive industry. These modules enable the delivery of high degrees of efficiency and operational performance.
– There is a high potential for the growth of electric vehicles, which drives the intelligent power module (IPM) market.
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Scope of the Report
Intelligent power modules (IPMs) are highly integrated and compact power modules. They enable the optimal utilization of power, in a wide range of industries. They are widely used in consumer electronics, servo drives, transportation, renewable energy, and others.
Key Market Trends
Renewable Energy to Drive the Adoption Rate for Intelligent Power Modules
– IPM applications in the renewable energy sector include usage in wind turbine inverters (both off-shore and on-shore), photovoltaic inverters, and micro-inverters.
– It is expected that around one-third of global power needs would be addressed by solar and wind energies, by 2040. This factor is expected to have a significant impact on the market studied, as IPM forms a critical component of these power architectures.
– With over 100 countries generating power from wind and a projected ten-fold increase in global production of electricity from wind, the market studied is projected to experience a boost.
– The increasing deployment of off-shore wind networks involving power transmission systems, based on high-voltage direct current (HVDC) technology, where IPM is an essential component, is driving the market studied.
North America to Emerge as a Prominent Market for IPM
– North America is one of the most important regions in the market studied, owing to the presence of several established players in the region.
– The United States has one of the largest automotive markets across the globe, and is home to several global automotive and auto parts manufacturers. Some of the major automobile manufacturers based out of the region include Ford, General Motors, Fiat Chrysler Automobiles, and Tesla. Tesla is at the forefront of technological innovation.
– With billions of dollars invested in the United States, the automotive industry, directly and indirectly, employs hundreds of thousands of US citizens. It was estimated that the automotive industry annually spends nearly USD 105 billion on R&D, worldwide, about USD 18 billion of which is spent in the United States, to incorporate newer and more advanced sensors into automobiles.
– With this growth in the automotive industry that is further expected to result in growth in hyrbid electric vehciles and autonomous cars, IPM in the region will witness an increased adoption as they will be used for better in-vehcile features.
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The major players include – Mitsubishi Electric Corp, Infineon Technologies AG, Fuji Electric Co. Ltd, Fairchild Semiconductors, ROHM Co. Ltd, ST Microelectronics NV, ON Semiconductor Corporation. These players dominate the market, resulting in a consolidated market. As a result of this, the market concentration is high.
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