Global intelligent power module market size is anticipated to grow from USD 1.8 billion in 2022 to USD 3.0 billion by 2027, at a CAGR of 10.7% from 2022 to 2027.
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The emergence of wide band gap materials, such as GaN and SiC, has changed the landscape of the power electronics market. These new semiconductor materials offer better thermal conductivity and higher switching speeds and are smaller than traditional silicon (Si) ones. The use of SiC and GaN has resulted in improvements in existing semiconductor technologies, such as MOSFETs and isolated gate bipolar transistors (IGBTs). These materials can be used for a wide range of applications. The fastest-growing applications of SiC include electric vehicles (EVs) and EV charging, where SiC plays a vital role in fast chargers and charging stations.
The new generation of IPMs enables continuous monitoring of several important module parameters. With the help of supporting software, IPMs generate a significant amount of data. Utilizing the data efficiently is a significant engineering challenge. Moreover, an increase in processing power is required to efficiently use the data generated by IPMs. Design challenges related to electromagnetic interference (EMI) increase with the rise in switching frequency. Thus, IPMs operating at high switching frequencies may be more compact but create more design complexities. These technical challenges need to be addressed for further development of the IPM market.
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