Market Size (2017)
2017
$1.85B
Semiconductor
Intelligent Power Module Market
By Segment, By Region, And Segment Forecasts, 2017 – 2023
Vertical: SEMIBase Year: 20179 Sections
Executive Summary
Intelligent Power Module Market — Snapshot
Projected (2023)
2023
$3.10B
CAGR (2017–2023)
9.0%
9.0%Key Players
100+
The intelligent power module market is expected to be highly lucrative in terms of its adoption in emerging economies such as China and India for renewable energy systems. The high power efficiency and low power consumption of intelligent power modules make them suitable to be used in smart grids, consumer electronic devices, and the commercial sector. Apart from these, various data center companies are also implementing intelligent power modules in modular data centers, as they require high stabilization of power supply for electric and electronic components. These modules are in huge demand in electric and hybrid vehicles as a mode to support renewable energy. Electric vehicles operate over a voltage of above 1200V and require low power consumption and minimum power loss. The adoption of IPMs in electric vehicles is expected to grow at the highest rate during the forecast period. However, the market is expected to reach its maturity by 2026 due to price sensitivity and availability of advanced power modules.
The intelligent power module market has been broadly segmented on the basis of IGBT power devices and MOSFET power devices. IGBT power devices are largely preferred for consumer electronics and industrial applications as they offer efficiency and fast switching capability. The major advantage of using IGBT power devices is low power loss and minimized power consumption in various devices such as inverters. IGBTs are also highly used in renewable energy systems such as solar and wind energy systems. While the application of IPMs in the automotive segment is expected to register high growth rate during the forecast period, renewable energy segment is also likely to exhibit growth in several European countries including the US, Canada, and Australia.
The companies operating in the intelligent power modules market are continuously investing in the development of power ICs to meet the growing demand from consumer electronics and renewable energy industries. Moreover, these companies focus on improving and expanding their services geographically across different regions. The major players in the market are Mitsubishi Electric Corporation, Fuji Electric Co Limited, Infineon Technologies AG, ON Semiconductor Corporation, STMicroelectronics, ROHM Co Ltd, Sanken Electric Co Ltd, Texas Instruments, and Hon Hai Precision Industry Co Ltd.
Key Insight
The Intelligent Power Module Market market is projected to grow at a CAGR of 9.0% from 2017 to 2023.
Market Performance Trend
Historical performance and future projections (2020–2030, USD Billion)
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What this report covers
- Geographic Coverage: This analysis covers 4 regions: Asia Pacific, Europe, Rest of the World, North America.
- Market Segmentation: The market is analyzed across 5 segments: 6-pack, 7-pack, Phase Bridge, Dual, Others. Forecasts are provided for each segment from 2017 to 2023.
- Competitive Landscape: 100 leading companies are profiled, covering market positioning, strategies, and recent developments.
Market Size (USD Mn)
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View Subscription PlansMarket Overview
Intelligent Power Module Market — Growth Trajectory
An intelligent power module is an electronic device that integrates a high voltage drive circuit to draw high power performance from either and IGBT power device or MOSFET power device. The intelligent power module is used for protection of systems from short circuits, under voltage, and extreme temperatures. The major applications of intelligent power modules can be observed in inverters, heating, ventilation, and air-conditioning (HVAC), solar power generation, wind power generation, uninterrupted power supply devices, and elevators. Intelligent power modules are used in consumer electronics devices and hybrid and electric vehicles to minimize power loss and reduce power consumption, thereby increasing the thermal lifecycle and system reliability.
Intelligent Power Module Market — Growth Trajectory
6-pack
7-pack
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View Subscription PlansMarket Size Trend (USD Mn)
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View Subscription PlansMarket Dimensions
How this market is segmented
- Voltage Rating is broken down into: Up to 600V, 601–1200V, More than 1200V.
- Current Rating is broken down into: Up to 100A, 101–600A, More than 600A.
- Circuit Configuration is broken down into: 6-pack, 7-pack, Phase Bridge, Dual, Others.
- Power Device is broken down into: IGBT, MOSFET.
- Application is broken down into: Consumer Electronics, Automotive, Renewable Energy, Application_Others.
Geographic Analysis
Regional market breakdown
- Asia Pacific Asia Pacific market size reached $631.45M in 2017 and is projected to reach $1.14B by 2023, growing at a CAGR of 10.3%.
- Europe Europe market size reached $423.21M in 2017 and is projected to reach $664.66M by 2023, growing at a CAGR of 7.8%.
- Rest of the World Rest of the World market size reached $284.54M in 2017 and is projected to reach $429.11M by 2023, growing at a CAGR of 7.1%.
- North America North America market size reached $514.92M in 2017 and is projected to reach $871.17M by 2023, growing at a CAGR of 9.2%.
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View Subscription PlansResearch Methodology
Intelligent Power Module Market — How We Researched This Market
This report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2017
Historical Period
2017 – 2017
Forecast Period
2017 – 2023
Primary Interviews
150+
Research Process
Historical data (2017–2017) and forecast period (2017–2023)
1
Problem Definition
- Market scoping
- Objective setting
- Framework design
2
Secondary Research
- Literature review
- Data mining
- Trend analysis
3
Primary Research
- Expert interviews
- Field visits
- Surveys
4
Data Analysis
- Quantitative modeling
- Statistical testing
- Validation
5
Insights & Reporting
- Synthesis
- Recommendations
- Visualization
Research Depth
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
Historical vs. Forecast Data
Historical (observed)
Forecast (modelled)
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View Subscription PlansCompetitive Landscape & Porter's Five Forces
Intelligent Power Module Market — Competitive Analysis
Threat of New Entrants
New system integrators are increasingly entering the global integrated power modules market, which is affecting the established players. The initial cost required for establishing manufacturing facilities in the global intelligent power modules market is moderate. Furthermore, low cost of manufacturing the modules and favorable government regulations further lower the barriers of entry for the new players. Therefore, new entrants are expected to pose a high threat to the existing players in the global IPM market during the forecast period.
Bargaining Power of Suppliers
There are various global and local players present in the intelligent power module market, which includes Texas Instruments Incorporated, Mitsubishi Electric Corporation, and Infineon Technologies AG. Due to the presence of a number of suppliers, the competition among them is high. Furthermore, the product differentiation in the offerings of these suppliers is low. Thus, the component suppliers of the intelligent power module are expected to have low bargaining power during the forecast period.
Bargaining Power of Buyers
The buyers in the intelligent power module market comprise component manufacturers as well as system integrators. Also, the market has a large number of manufacturers of IPMs which makes the bargaining power of buyers high. Moreover, the presence of local manufacturers further increases their bargaining power. Companies such as Samsung Electronics, Mitsubishi Electric Corporation buy the electronic components in bulk from the suppliers, which enable them to dictate the prices. Furthermore, the technical expertise of buyers is high which encourages some companies to have in-house manufacturing of these electronic components. Therefore, the bargaining power of the buyers is expected to be high during the forecast period.
Threat of Substitutes
Currently, intelligent power modules are being widely integrated with various consumer electronics including washing machines, refrigerators, and air-conditioners. At present, there is no available replacement for intelligent power modules in the market; therefore the threat of the substitutes is likely to be low in the upcoming years. This coupled with the wide scope of IPMs for various end-use applications is likely to fuel their adoption in the forecast period.
Intensity of Rivalry
The players in the global market for intelligent power module are expected to witness a high degree of rivalry during the forecast period. This is because the products offered by the suppliers are not differentiated, which results in low brand loyalty among the buyers. Moreover, the presence of local players in the market contributes significantly to the competition.
Quantitative Analysis
Regional Breakdown
Regional market breakdown for Intelligent Power Module Market.
Regional Market Size (USD Mn)
Market estimates by geography (2023)
InsightAsia Pacific leads with $1.14B by 2023.
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View Subscription PlansRegional Market Data
| REGION | 2017 | 2017 | 2023 | CAGR | SHARE |
|---|---|---|---|---|---|
| Asia Pacific | $631.45M | $792.40M | $1.14B | 10.3% | 37% |
| Europe | $423.21M | $509.12M | $664.66M | 7.8% | 21% |
| Rest of the World | $284.54M | $346.41M | $429.11M | 7.1% | 14% |
| North America | $514.92M | $658.47M | $871.17M | 9.2% | 28% |
| Total | $1.85B | $2.31B | $3.10B | 9.0% | 100% |
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View Subscription PlansSegment Revenue (2023)
6-pack
7-pack
Phase Bridge
Dual
Others
02585167741032
Segment Market Share
- 6-pack30%
- 7-pack23%
- Phase Bridge22%
- Dual17%
- Others8%
Total Market Size
$3.10B
Market by Segment (2023)
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| 6-pack | $938.17M | 9.0% | 53% |
| 7-pack | $711.65M | 9.0% | 53% |
| Phase Bridge | $674.18M | 9.0% | 66% |
| Dual | $526.83M | 9.0% | 77% |
| Others | $251.59M | 9.0% | 53% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytics
Intelligent Power Module Market — Key Findings
Analytical insights on Intelligent Power Module Market covering market dynamics, competitive landscape, and strategic outlook.
Key Analytical Findings
The Intelligent Power Module Market market is projected to reach $3.10B by 2023, growing at 9.0% CAGR. The 6-pack segment holds the largest share.
Market Drivers
The demand for consumer electronic devices used for various end-use applications including cooking, cleaning, comfort, entertainment, food preservation is continuously increasing. In January 2018, the Consumer Electronics Association (CEA) predicted the consumer electronics retail revenue to reach USD 351 billion in the year 2018, registering a 3.9% increase over 2017. However in July 2018, the organization altered its estimation to USD 377 billion in retail revenue for consumer electronics.
The factors impacting the demand for consumer electronics are the development of innovative products, increasing disposable income of middle income groups, growing need for automation in various residential applications as a result of emerging technologies. Hence, the tier 1 manufacturers of consumer electronics are focused on adding the latest features and technologies to their offerings to enhance the convenience and user experience. Intelligent power modules are used in a plethora of consumer equipment such as pumps, fans, air conditioning systems, UPS, auxiliary inverters, washing machines owing to their numerous advantages such as excellent electrical ruggedness, low switching losses, and high-power cycling capability, among others.
The demand for IPMs in consumer electronics is expected to gain pace in the forecast period across the globe, fueling the market. Hence, impact of rising demand of consumer electronic devices on the global intelligent power module is expected to be high during the forecast period.
Market Opportunities
The electronics industry is going through rapid changes with the technical advances in electronic products and components. The companies are exploring new opportunities to develop systems with efficient heat dissipation and low power consumption using IPMs. MOSFETs and IGBTs deliver power efficiency in various applications such as in-home electronics, industrial drives, telecommunication, transport, electric grid, and numerous others using IPMs.
Moreover, the rising demand of gallium nitride (GaN) and silicon carbide SiC power semiconductors plays a major role in the adoption of IPMs and can impact the market growth during the forecast. Gallium nitride (GaN) has been extensively used in radio frequency (RF) and microwave applications to enhance the performance of various devices. GaN is nearly 10% more efficient than laterally diffused MOSFET (LDMOS) which helps in significant energy savings at power level 600W or more. Furthermore, GaN materials are highly efficient, which allows them to offer superior system reliability. The demand for GaN-on-SiC is increasing due to its high performance, thermal conductivity, reliability, and cut-off frequency in various industrial verticals including military & defense, aerospace and IT & telecommunications. Thus, to increase the power density of the GaN-on-SiC systems, protection of IPM module from heat dissipation, and short circuit can be a dynamic opportunity for component manufacturers in the near future.
Market Restraints
The power dissipation stands refers to the rate at which energy is lost due to resistive elements. The increasing demand for reduction in the size of the IGBT modules to minimize the overall size of the system, combined with continuously increasing use of IGBT modules in high voltage and current applications are the factors resulting in high power dissipation of IGBT modules.
The downsizing of IGTB, has resulted in a reduction up to 50% of IGTB footprint area. This has caused the higher power dissipation densities for the IGBT die as well as the module due to denser packing of the die. The downsizing further affects the cooling capabilities of modules and limits the device performance.
The issues related to power dissipation of IGTB module affects the overall reliability of the device and decreases the efficiency of the IGTB. However, the IGTB developing and manufacturing companies are investing heavily in the product development to decrease the power dissipation and improve the efficiency of devices. Thus, the impact of the high-power dissipation of IGBT modules on the global intelligent power modules market, is expected to shift from moderate to low during the forecast period.
Strategic Outlook and Future Directions
Near-term growth will likely concentrate in modular bioreactor lines and closed-system media workflows that shorten validation cycles while preserving batch traceability.
Partnerships between CDMOs and instrumentation vendors should accelerate standard datasets for comparability across sites, improving forecasting models used in capacity planning.
Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.
Market Value by Segment (2023)
6-pack
7-pack
Phase Bridge
Dual
Others
Companies
Key companies profiled in Intelligent Power Module Market
Profiles of 100 companies operating in the Intelligent Power Module Market market, including revenue, employee count, and market positioning where available.
Showing 100 of 100 companies
Master Loc
Master Lock Company LLC.
Semiconductor
Company Headquarters: United States Founded: 1921 Workforce: ~7,500 Company Working: Master Lock Company LLC. is a global leader in the development and manufacturing of security products, including padlocks, combination locks, and other security solutions. Master Lock's product line includes a wide range of padlocks, safety lockout devices, digital locks, and other security solutions for residential, commercial, and industrial use. The company has a strong reputation for quality and durability, and its products are widely used in schools, hospitals, airports, and other high-security environments. In addition to its core product offerings, Master Lock provides services, including key cutting, lock repair, and customized security solutions for specific customer needs. The company is committed to innovation and strongly focuses on research and development to stay ahead of evolving security threats. Master Lock is owned by Fortune Brands innovations, a leading home and security products company that also owns other well-known brands such as Moen, Therma-Tru Doors, and Fiberon Decking.
Revenue$3.6B
Employees7,500
Market CapN/A
Founded1920
United States
Dormakaba
Dormakaba
Semiconductor
Company Headquarters: Switzerland Founded: 1862 Workforce: ~15,495 Company Working: dormakaba is a leading global provider of security and access solutions, offering various industries a diverse range of products and services. Its product portfolio includes door hardware, electronic access and data, entrance systems, safe locks, lodging systems, interior glass systems, movable walls, and more. With operations in over 50 countries, dormakaba has a strong presence in Europe, the Americas, and the Asia-Pacific, serving customers across multiple industries, including hospitality, commercial, institutional, and residential. Dormakaba's primary objective is to deliver innovative, reliable, and effective security and access solutions that improve its customers' safety, security, and convenience. The company accomplishes this by investing in research and development and utilizing advanced technologies to create products that meet the changing requirements of its customers.
Revenue$2.6B
Employees15,495
Market CapN/A
Founded1861
Switzerland
The Assa A
The Assa Abloy Group - Yale
Semiconductor
Company Headquarters: Stockholm, Sweden Founded: 1840 Workforce: ~8,047 Company Working: Yale is a widely recognized name in the security industry, providing a diverse range of products such as smart locks, deadbolts, padlocks, and safes. Yale's smart locks are designed to be both convenient and secure, allowing for access control to homes or businesses via a smartphone app, key fob, or keypad. Some models offer voice control compatibility through virtual assistants such as Amazon Alexa or Google Assistant. Yale's smart locks also feature auto-locking, tamper alarms, and remote access control, enabling property owners to monitor and control access from anywhere. Yale produces various smart lock models, including the Yale Real Living Assure Lock SL, Yale Real Living Assure Lock Touchscreen, and Yale Real Living Assure Lock with Bluetooth. These locks are crafted to suit different door types and are available in various finishes to match the property's décor. In addition to smart locks, Yale offers other security products such as video doorbells, security cameras, and alarm systems. Yale is recognized as a trustworthy brand in the security industry, boasting a long history and a reputation for quality. Its smart locks are popular among homeowners and businesses seeking to improve their security and convenience. THE ASSA ABLOY GROUP is a parental brand of Yale.
Revenue$8.7B
Employees8,047
Market CapN/A
Founded1839
Stockholm, Sweden
Twin Vee P
Twin Vee PowerCats
Semiconductor
Company Headquarters: Florida, United States Founded: 1996 Workforce: ~140 Company Working: Twin Vee PowerCats is a designer and manufacturer of recreational and commercial power catamaran boats. The company has been in business for over 26 years and has sold over 7,000 boats worldwide. In recent years, Twin Vee has been expanding its business into the electric boat market. The company's wholly owned subsidiary, Forza X1, is developing a line of electric boats that are designed to be affordable, versatile, and environmentally friendly. Forza X1's first electric boat, the FX1, is a 28-foot catamaran with up to 10 people. The FX1 is powered by two electric motors that produce a combined output of 200 horsepower. The boat has a top speed of 35 knots and a range of up to 100 miles on a single charge. Twin Vee PowerCats sells the FX1 in the United States, Canada, and Europe. The company plans to expand its sales to other countries in the future.
Revenue$0.0B
Employees140
Market CapN/A
Founded1995
Florida, United States
Vision Mar
Vision Marine Technologies Inc
Semiconductor
Company Headquarters: Boisbriand, Canada Founded: 1995 Workforce: ~51 Company Working: Vision Marine Technologies Inc. is a leading company in the electric boat market. The company designs, manufactures, and distributes electric-powered boats and related products. Vision Marine Technologies specializes in providing innovative and sustainable solutions for the marine industry. With a vision to revolutionize the boating experience, the company offers electric boats powered by various propulsion types, including hybrid and pure electric systems. These propulsion systems ensure zero-emission navigation, reducing the environmental impact of boating activities. Vision Marine Technologies utilizes advanced battery technologies, such as lithium-ion, lead-acid, nickel-based, and other types, to deliver efficient and reliable power for their electric boats. These battery options provide enhanced performance and extended range, catering to diverse customer needs. The company has a strong presence in the electric boat market and is actively expanding its operations. Vision Marine Technologies serves customers globally, focusing on the Americas, Europe, and Asia-Pacific regions. The company's commitment to sustainable boating solutions has positioned it as a key player in the industry, driving the adoption of electric propulsion systems for marine transportation.
Revenue$0.0B
Employees51
Market CapN/A
Founded1994
Boisbriand, Canada
AFL
AFL
Semiconductor
Company Headquarters: United States Founded: 1984 Workforce: ~5,800 Company Working: AFL is a provider of engineering information services and fiber optic products with the goal of providing superior connectivity services. Fiber optic cable, conductor accessories, fiber outside plant equipment, fusion splicing, connectors, and accessories are among the company's goods that allow telecommunications businesses to offer their clients high-speed phone, video, and data services. From very large energy and service providers to small businesses setting up fiber optic networks, AFL serves a wide spectrum of clients. Additionally, it operates in a number of places around the United States, Mexico, Canada, Europe, Asia, and the South Pacific. It also markets its solutions, goods, and services internationally.
Revenue$0.0B
Employees5,800
Market CapN/A
Founded1983
United States
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I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Noah Malgeri
Co-Founder, Mojave Rail Fabrication Limited
This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Michael Robert
Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Intelligent Power Module Market
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