Power Module (PSiP and PwrSoC) Market Trends

Growth Indicators

• Miniaturization of Electronic Products Over the Years To Promote The Growth of the Power Modules Market
  Advancement in electronic products and the ongoing drive towards the miniaturization of electronic products creates a huge demand for integrated power modules across major industry verticals such as automotive, manufacturing, industrial and others. Moreover, the ever-increasing functionality and performance of electronic products is placing significant challenges on power management platforms to deliver high efficiency with the increasing level of miniaturization, which in turn is raising the need to develop power modules with greater efficiency that can operate without a heat sink and provide more output.
• Increasing Adoption of Power Modules in End User Industries
  Power modules are widely used in several end user industries, such as automotive and healthcare among others. In the automotive industry, power modules play a key role in the power modulation of EV and HEVs. These modules are known to provide inverters and converters with good thermal and electrical efficiency by maintaining a low volume and mass. On the other hand, in the healthcare industry, power modules are widely used to power medical devices, such as heart rate monitors, ultrasound devices, clinical tablets and other portable medical devices. Advancement in healthcare industry has raised the necessity for the development of compact medical devices with greater functionality, which has raised the need for advanced power modules in the industry. Such factors are anticipated to drive the growth of the global power modules market over the forecast period.

Challenges

• High Cost of Power Modules and Constrained Supply Chain to Limit Growth of Market
  Although there is an increasing demand for highly efficient power modules, yet the increasing cost of power modules is known to be the major factor hampering the growth of the market. Additionally, factors such as requirement of broad skill set for the development processes in the manufacturing of power modules, coupled with constrained supply chain for products such as rectifiers and MOSFETs that are faced by manufacturers globally are some of the factors anticipated to restrict the growth of the global market.