Intelligent Power Module Market Expand $7.71 Billion By 2032 CAGR 11.0%

Intelligent Power Module Market Size Worth $7.71 Billion By 2032 | CAGR: 11.0%

The global intelligent power module market size is expected to reach USD 7.71 billion by 2032, according to a new study by Polaris Market Research. The report “Intelligent Power Module Market Share, Size, Trends, Industry Analysis Report, By Power Device (IGBT, MOSFET), By Voltage Rating (0 V To 599 V, 600 V To 1,199 V, 1,200 V And Above), By Application, By Region, And Segment Forecasts, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

An intelligent power module (IPM) serves as a comprehensive power device that integrates discrete semiconductors like MOSFETs and IGBTs, along with driving and protection circuits, into a single package. These modules find widespread use in diverse applications, ranging from renewable energy systems to home appliances. The market for intelligent power modules is driven by the demand for power devices that offer enhanced system efficiency and simplify the design process. By consolidating multiple components into a single package, IPMs streamline the integration of essential elements in power systems. This integration minimizes the complexity of the design process, making it more efficient and less prone to errors.

In applications like renewable energy, where the demand for efficient power management is crucial, intelligent power modules play a vital role. These modules not only contribute to improving the overall efficiency of power systems but also enhance reliability by integrating protective features. Additionally, in the context of home appliances, intelligent power modules enable manufacturers to create more energy-efficient and compact devices, meeting the growing consumer demand for environmentally friendly and technologically advanced solutions.

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Various governments are implementing initiatives to expedite the shift towards electric vehicles, a move that is expected to benefit the market given the integral role of intelligent modules in the EV applications. For instance, in April 2023, the U.S. government disclosed plans for both private and public sector investments aimed at enhancing the production of cost-effective Electric Vehicles (EVs). The U.S. government's Inflation Reduction Act encompasses provisions supporting the installation of EV charging infrastructure in commercial, municipal, and residential settings.

The choice of voltage range is often influenced by the specific requirements of the application. Intelligent power modules within the 600 V to 1,199 V range are versatile and cater to various needs, making them widely accessible. This voltage range is suitable for applications where moderate to high voltage levels are necessary, spanning both consumer-oriented devices like electronics and more robust industrial applications. The availability and adaptability of these modules contribute to their popularity and widespread use across diverse sectors.

Intelligent Power Modules Market Report Highlights

  • IGBT segment expected to grow at the fastest pace, owing to their ability to withstand high over-loads
  • 600 V to 1,199 V segment held the largest share, due to its applicability in consumer electronics
  • North America will grow rapidly, primarily due to favorable government initiatives, and innovations in the sector
  • The key market players include Cissoid, Fuji Electric, Ideal Power, Infineon Technologies, Mitsubishi Electric, ROHM, Semikron Danfoss, & STMicroelectronics

Polaris Market Research has segmented the intelligent power modules market report based on power device, voltage rating, application, and region:

Intelligent Power Module, Power Device Outlook (Revenue - USD Billion, 2019 - 2032)

  • IGBT
  • MOSFET   

Intelligent Power Module, Voltage Rating Outlook (Revenue - USD Billion, 2019 - 2032)

  • 0 V to 599 V
  • 600 V to 1,199 V
  • 1,200 V and above

Intelligent Power Module, Application Outlook (Revenue - USD Billion, 2019 - 2032)

  • Automotive
  • Industrial
  • Consumer Electronics
  • Energy & Utility
  • IT & Telecommunication
  • Others

Intelligent Power Module, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Intelligent Power Modules Market Report Scope

Report Attributes


Market size value in 2024

USD 3.34 billion

Revenue forecast in 2032

USD 7.71 billion


11.0% from 2024 – 2032

Base year


Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments covered

By Power Device, By Voltage Rating, By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa


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