According to MarketsandMarkets,the intelligent power module market is projected to reach USD 2.4 billion by 2025 from USD 1.5 billion in 2020; growing at a CAGR of 9.6% during the forecast period.

Rising focus towards renewable power sources, growing adoption of electric vehicles, and increasing reliability thtough enhanced level of monitoring are the key driving factors for the intelligent power module market.

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IPMs with up to 600 V voltage rating expected to account for a largest share of the intelligent power module market by 2025. These IPM’s are widely used in consumer electronic products. These IPMs provides a compact, high performance AC motor drive in a simple and solid design. Some of the features of this type of IPM are high side IGBT Gate Driver (HVIC), Silicon On Insulator (SOI), drive circuit, high voltage level shifting, current limit for bootstrap diode, control supply under voltage locked out (UVLO). It is manufactured by all major players such as Mitsubishi Electric Corp. (Japan), Fuji Electric Co., Ltd. (Japan), On Semiconductor Corporation (U.S.), and Infineon Technologies AG (Germany), the key target segment of these IPMs is the consumer sector. Application areas in the consumer sector include washing machines, refrigerators, dish washers, and air conditioners.

The IPM’s with current rating 0 to 100A are expected to hold the largest share of the intelligent power module market by 2025. IPM’s with these current rating suffices the purpose for domestic applications which comprises of daily use appliances such as washing machine, air conditioner, dish washers and others. IPM being one of the smallest modules in the electronics domain, some of the features are heat sink-less operation, motor drive-optimized fast recovery FETs and integrated bootstrap functionality. It is manufactured by all major players such as Mitsubishi Electric Corp. (Japan), Fuji Electric Co., Ltd. (Japan), On Semiconductor Corporation (U.S.), and Infineon Technologies AG (Germany), the key target segment of these IPMs is the consumer sector. Some of the benefits of this range of IPM are cost savings from smaller footprint and reduced PCB space, easy implementation of 2 or 3-phase motor drives w/half-bridge IPMs and half-bridge configuration enables more flexible board design w/better thermal performance.

In terms of geographic coverage, theintelligent power module market has been segmented into North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW).APAC holds the largest share of the global intelligent power module market. The market in APAC is further segmented into China, India, Japan, South Korea, and Rest of APAC. Many economically advanced countries have their manufacturing units in the developing economies of APAC, especially in China and India. The domestic markets in APAC are growing rapidly, owing to the rising per capita income of the middle-class population. APAC is the fastest-growing market for IPM, with three of the top 10 largest economies in the world–China, India, and Japan.