Medium and the high-power application have been implemented by using hybrid integration. Hybrid integration used to cover wide range of power electronics. Intelligent power module or application specific IPM are being used for voltage ratings up to600V and a current rating from a few Amp up to 100Amp, and the typical power module for the current ranges greater than 100Amp and voltage over 1200V. 

Expansion of the intelligent power module market is highly reliant on the growth of power devices modules mainly focusing on IGBT and mosfet, which provides system control function and improved system performance.

For purpose of in depth analysis, the intelligent power module market has been segmented on the basis of voltage rating, current rating, by power device, application, and geography. In terms of voltage rating, the market can be segmented into upto 600V, 1200V, and above 1200V. In terms of current rating, the market can be segmented into upto 100A, 101-600 A, and more than 600A.

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Increasing demand for modular power solution in the renewable energy application is a key driver for the expansion of the intelligent power module market. Increasing need for high power density and consistently rising need for IPM in the railway traction motor is estimated to fuel the expansion of the intelligent power module market.

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The growing penetration of high voltage direct current is also a key factor that is anticipated to boost the demand for different modular power solutions during the forecast period. Additionally, rising demand for consumer goods and enhanced energy requirement in emerging economies is also anticipated to increase the demand for modular power solution in the near future. This, in turn, is projected to propel the intelligent power module market during the forecast period.