Intelligent Power Module Market Expanding Rapidly from $2.6 billion in 2024 to Estimated $5.02 billion by 2029: Insights on Size, Drivers, Segments, Trends & Growth Forecast.

What Are The Forecasts For The Global Intelligent Power Module Market Size, Growth, And Trend?

The intelligent power module market size has grown rapidly in recent years, escalating from $2.6 billion in 2024 to a predicted $3 billion in 2025. This signifies a compound annual growth rate (CAGR) of 15.5%. The increase during this period can be attributed to the climbing demand for consumer electronics, the spread of electric vehicles, an increase in automation, a heightened focus on energy efficiency, and data center expansion.

The intelligent power module market size is expected to witness swift growth in the coming years, expanding to a whopping $5.02 billion in 2029 with a CAGR of 13.7%. The growth in the forecast period is expected to be driven by the deployment of 5G infrastructure, the flourishing medical devices and healthcare sector, the rapidly expanding telecommunications infrastructure, and the enlargement of the aerospace and defense sector. Major trends in the intelligent power module market during the forecast period include the integration of SiC and GaN technology, the rise of customized IPMs for specific applications, enhanced thermal management solutions, focus on miniaturization and compact design, and sustainable and eco-friendly IPMs.

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What Are The Major Growth Drivers For The Intelligent Power Module Market?

The rising demand for consumer electronic devices is fueling the growth of the intelligent power module market. Consumer electronics, intended for end users’ everyday use, finds IPMs quite suitable for their frequency converters of drive motors and various inverters due to their ease of use and high reliability. They serve as an ideal power electronic device for frequency conversion and speed adjustment, electric traction, servo drives, metallurgical machinery, and inverter appliances. As per a report by GFK, a data and intelligence provider for the consumer goods sector based out of Germany, the global consumer electronics market (excluding North America) recorded a sales increase by $42.8 billion, or 18%. Therefore, the rising demand for consumer electronic devices is propelling the growth of the intelligent power module market.

What Are The Key Segments Within the Global Intelligent Power Module Market?

The intelligent power module market report encompasses the following segments:

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

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Which Are The Leading Companies In The Intelligent Power Module Market?

Major players 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, Powerex 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.

What Trends Are Emerging In The Intelligent Power Module Market?

Strategic partnerships and collaborations are emerging as key trends in the intelligent power module market. Key players in this sector are focusing on partnerships and collaborations to reinforce their position. For instance, Switzerland-based STMicroelectronics, made a strategic partnership with Sanken Electric Co., Ltd., a supplier of analog power semiconductor products based in Japan, to develop intelligent power modules for high-voltage industrial and automotive products. Also, the Hong Kong Applied Science and Technology Research Institute (ASTRI), ASM Pacific Technology Limited (ASMPT), and Alpha Power Solutions (APS) aim to create the first SiC Intelligent Power Module for electric vehicles to be manufactured entirely in Hong Kong (EVs).

Which Region Will Lead The Table In The Intelligent Power Module Market Expansion?

Asia-Pacific enjoyed the position of the largest region in the intelligent power module market in 2024 and is expected to continue its reign by being the fastest-growing region during the forecast period.

What Does The Intelligent Power Module Market Report 2025 Offer?

The Intelligent Power Module market research report for 2025 from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. An Intelligent Power Module (IPM) is a high-performance module, housing a dedicated drive circuit to get more power out of an IGBT chip that offers a custom IC to carry out self-protection functions. It is primarily used in motor control, inverters, renewable energy systems, and uninterruptible power supplies.

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