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Intelligent Power Module Market size worth over $2.5Bn by 2026

  • Published Date: October 19, 2020

Intelligent Power Module (IPM) Market size is set to surpass USD 2.5 billion by 2026, according to a new research report by Global Market Insights Inc.

The evolution of Industry 4.0 trend and integration of IoT & AI technologies in smart factories will drive the intelligent power module market demand. Several industries are adopting automation equipment such as robotics, CNC machines, conveyor systems, etc., in their plant facilities to increase productivity and reduce human intervention. These automated machineries are integrated with motor drives, inverters, converters, & servo drives for energy efficiency and automatic stabilization of voltage & current ratings. The growing adoption of automated equipment in the industrial sector will fuel the IPM market growth.

Design-related complexities associated with Silicon Carbide- (SiC) based intelligent power modules are restraining the market expansion. The SiC-based IPMs have a low life cycle and are more susceptible to sudden voltage and current overshoot. In addition, SiC-based IPMs require advanced packaging and configuration that increase their cost. However, companies are innovating new IPMs with Cubic Silicon Carbide (3C-SiC), an alternative to traditional SiC material, which will overcome design complexities.

The rising adoption of electric vehicles will augment the demand for 1,200 V intelligent power module

Intelligent Power Module (IPM) Market

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The 1,200 V module segment held 30% of the intelligent power module market share in 2019 and is anticipated to witness around 12% growth rate through 2026. The growing trend towards electric vehicles is one of the major factors creating the demand for 1,200 V IPM. These power modules offer high-performance and energy efficiency for Battery Management Systems (BMS) and electric motor drives, accelerating their market opportunities in the automotive sector.

According to the Global EV outlook 2020, around 2.1 million electric vehicles were produced and sold in 2019 with a Year-on-Year growth rate of 40% compared to 2018. This will positively influence market players toward the development of 1,200 V IPMs and cater to the high competitiveness. In June 2020, Infineon Technologies AG launched a 1,200 V Silicon Carbide (SiC) intelligent power module with its ‘CoolSiC’ automotive MOSFET technology. The new product offers high-power density and energy efficiency suitable for applications, such as battery management, voltage converters, and fast switching in auxiliary drives, in electric cars.

The proliferation of consumer electronics and home appliances in developing nations has accelerated the segment growth

The 20A – 100A current rating in the intelligent power module market is estimated to attain a CAGR of around 10% till 2026 impelled by rising disposable income among the population in developing nations, which increases the purchase of consumer durables. According to the Indian Brand Equity Foundation, the consumer electronics and home appliance market in India is projected to double from USD 10.93 billion in 2019 to USD 21.18 billion by 2025. Consumer electronics and home appliances are integrated with components, such as inverter drive systems, compressor controls, and motor drives, which will increase the adoption of intelligent power modules.

20A – 100A rating in IPM aids to deliver low-noise radiation, compact size, and high-power efficiency that are suitable for applications in electronic appliances such as washing machines, air conditioners, and refrigerators, among others. To cater to the high demand in the industry, companies are continuously innovating new products, adding an opportunity for intelligent power modules.

Browse key industry insights spread across 280 pages with 312 market data tables and 41 figures & charts from the report, “Intelligent Power Module Market Size, By Voltage Rating (Up to 600V, 1,200 V, Above 1,200 V), By Current Rating (Up to 20A, 20A - 100A, >100A), By Power Devices (Insulated-Gate Bipolar Transistor (IGBT), Metal Oxide Semiconductor Field Effect Transistor (MOSFET)), By Application (Consumer Electronics, Industrial, Renewable Energy, Automotive), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:

Technological innovations in MOSFET power devices will create market growth opportunities

The MOSFET power device segment accounted for 20% of the intelligent power module market revenue share in 2019 driven by technological innovation in MOSFET devices to reduce package size, energy efficiency, and low noise. MOSFET power modules also feature voltage lockout protection and are susceptible to operate in high-temperature ranges. These features increase their adoption in automotive electronics and industrial motor control applications. In February 2020, Alpha and Omega Semiconductor Limited launched the new ‘IPM7 Series’ intelligent power modules based on the advanced super-junction MOSFET inverter technology. The new module has applications in BLDC motor drives, variable speed drives, and power converter, among others.

Rising requirements for predictive maintenance in industrial machinery will propel the market revenue

The industrial application in the intelligent power module market is expected to reach USD 1 billion by 2026 on account of increasing demand for predictive maintenance in industrial machinery in the manufacturing and processing sectors. These power modules are experiencing significant adoption in power electronic devices such as servo drives, converters & inverters appliances, and high-speed motor drives, among others. These modules reduce machine failure due to over-heating, over-voltage, and over-current by managing the power supplies and acting as a predictive maintenance device in the industrial sector.

The proliferation of smart homes in the U.S. will boost the market statistics value

North America intelligent power module market share will grow at a CAGR of more than 8% from 2020 to 2026 led by significant adoption of smart home devices in the region. According to the January 2020 press release by Consumer Technology Association, 70% of U.S. households are adopting smart home technology devices in their homes. The proliferation of smart home devices, such as service robots, HVAC control systems, energy management devices, home appliances, and smart meters, will increase the adoption of IPM in the region during the forecast period.

Some of the prominent players operating in the intelligent power module market are Sanken Electric Co., Ltd., ROHM Co., Ltd., Fuji Electric Co. Ltd., Mitsubishi Electric Corporation, ON Semiconductor Corporation, and Infineon Technologies AG, among others. Market leaders are extensively focusing on research & development activities to provide technically advanced products than their competitors.

Authors: Preeti Wadhwani, Prasenjit Saha