Intelligent Power Module (IPM) for Home Appliance Market was valued at USD 1.5 Billion in 2022 and is projected to reach USD 3.0 Billion by 2030, growing at a CAGR of 9.2% from 2024 to 2030.
The global market for Intelligent Power Modules (IPMs) in home appliances has seen significant shifts from 2018 to 2022, and it is expected to evolve further in the next decade. With advancements in energy efficiency, automation, and sustainability, the demand for IPMs has surged, and the industry is poised for new growth driven by these trends. As home appliances continue to become smarter, the integration of IPMs is crucial for improving the overall energy performance, reliability, and longevity of various devices. In this article, we will explore the evolution of the IPM market from 2018 to 2022 and forecast the demand from 2023 to 2033.
The period from 2018 to 2022 marked a pivotal point for the IPM market, driven by rising consumer demand for smart home appliances and energy-efficient products. IPMs, which are semiconductor devices used to control the power in home appliances, have become essential in reducing energy consumption while enhancing the performance of air conditioners, refrigerators, washing machines, and other household devices. During this time, the rapid development of IoT (Internet of Things) and increased demand for automated systems further boosted the adoption of IPMs across the industry.
As we transition into 2023, the demand for IPMs in home appliances is projected to grow exponentially. This growth is largely attributed to the increasing popularity of energy-efficient solutions and the push towards sustainability in appliance manufacturing. The global shift toward more eco-friendly practices, as well as stricter energy consumption regulations, is expected to further fuel the demand for IPMs. Additionally, the growing interest in smart appliances that offer enhanced convenience and automation is likely to drive the adoption of intelligent power modules.
In particular, the demand from 2023 to 2033 is expected to see substantial growth in emerging markets, such as Asia-Pacific and Latin America, where urbanization and rising disposable incomes are leading to a greater demand for high-tech home appliances. Additionally, advances in AI and machine learning are likely to enhance the functionality of home appliances, creating new opportunities for IPMs to be integrated into a wide array of devices. Manufacturers are also focusing on miniaturizing IPMs and making them more affordable for the mass market.
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Mitsubishi Electric
ON Semi
Infineon Technologies
Fuji Electric
Semikron Danfoss
ROHM
STMicroelectronics
Hangzhou Silan
Jilin Sino-Microelectronics
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Intelligent Power Module (IPM) for Home Appliance Market
White Goods
Black Appliances
Kitchen Appliances
Small Home Appliances
Based on Types the Market is categorized into Below types that held the largest Intelligent Power Module (IPM) for Home Appliance market share In 2023.
IGBT Based IPM
MOSFET Based IPM
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Intelligent Power Module (IPM) for Home Appliance Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Intelligent Power Module (IPM) for Home Appliance Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Intelligent Power Module (IPM) for Home Appliance Market, By Type
6. Global Intelligent Power Module (IPM) for Home Appliance Market, By Application
7. Global Intelligent Power Module (IPM) for Home Appliance Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Intelligent Power Module (IPM) for Home Appliance Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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