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Power Module Market to Grow by 2027 as the Demand Increases in Automotive and Medical Industries

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Research Nester released a report titled Power Module Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global power module market in terms of market segmentation by product, by end use application and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

Power modules are integrated packages of circuit elements used to provide power control through the several power components, usually semiconductor devices. They are used in multiple industries such as automotive, medical, communication infrastructure and others. The market for power module (PSiP and PwrSoC) is anticipated to record a CAGR of 9.4% over the forecast period, i.e., 2018-2027. This can be attributed to the rising focus on applications involving higher input voltage range and growing usage in communications infrastructure (5G).

The market is segmented by product, by end use applications and by region. On the basis of end use applications, the market is segmented into automotive, industrial, medical devices, communication infrastructure and others. Based on these, the industrial segment is estimated to grow at the highest rate and record a CAGR of 9.8% during the forecast period. The rising demand for compact, lightweight and efficient power supplies for enhancing the implementation of Industrial Internet of Things (IIoT) is a significant factor resulting in the growth of this segment.

Based on region, global power module market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in Asia Pacific is anticipated to observe the highest growth rate on account of presence of large end use manufacturing industries in the region such as medical, automotive and communication infrastructure among several others. This is estimated to be followed by the market in North America with the second highest growth rate as a result of presence of major power modules Original Equipment Manufacturers (OEMs) in the region.

Increasing Adoption of Power Modules by Emerging Industries to Drive the Market Growth

Emerging industries such as the automotive and medical devices industries are projected to increase the adoption of power modules on account of rising consumer demands. The advantages of using power modules, including their compact form, higher reliability, efficiency and power management capabilities are additional factors estimated to boost the market growth. However, the rate at which the applications of high density power modules (PSiP and PwrSoC) is increasing is not high enough to reach the expected potential growth, which is estimated to become a restraining factor for the market growth in the upcoming years.

This report also provides the existing competitive scenario of some of the key players of the global power module market which includes company profiling of Renesas Electronics Corporation, STMicroelectronics, Intel, Infineon Technologies, Renesas Electronics Corporation, Analog Devices, ROHM, MPS, Vicor Corporation, Mitsubishi Electric Corporation, Schneider Electric and Micro semi. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global power module market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.


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