Exploring the Intelligent Power Module Market: Trends, Drivers, and Future Outlook
The Intelligent Power Module (IPM) market is experiencing significant growth, driven by the increasing demand for energy-efficient power management solutions across various industries. These modules integrate power devices, gate drivers, and protection circuits into a single package, offering enhanced performance and reliability.
Market Overview
The global IPM market was valued at approximately USD 2.71 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 11.2% from 2023 to 2030. This growth is fueled by advancements in power electronics and the rising adoption of electric vehicles (EVs), renewable energy systems, and industrial automation.
Key Drivers of Market Growth
Electrification of Transportation: The shift towards electric mobility is a major contributor to the demand for IPMs. These modules are essential in managing the power conversion processes in EVs, including motor control and battery management systems.