The Intelligent Power Module (IPM) Market Estimated to Grow at a CAGR of 15% by 2023 – Know About Regional Outlook, Competitive Strategies, Technological Advancements
Due to growing environmental concerns, electric vehicles are gaining pace, which uses IPMs extensively. Technological advancements in IPM models with improved features assist in strong competition among market players, which in turn provides the stage for R&D opportunities. The growing interest towards renewable power resources like solar and wind energy, which widely use IPMs in their power generation units are also fueling the market. However, technical issues due to power modules with SiC-bases may hinder the market growth.
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