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Intelligent Power Modules Market

ID: MRFR/SEM/4425-CR
128 Pages
Aarti Dhapte
July 2019

Intelligent Power Module Market Size, Share and Research Report By Circuit Configuration (6-Pack, 7-Pack, Phase Bridge, and Dual), By Current Rating (Up to 100A, 101A-600A, and More than 600A) By Voltage Rating (Up to 600V, 601V-1200V, and More than 1200V) By Power Devices (IGBT, and MOSFET) By Verticals (Consumer Electronics, Automotive, Industrial, Aerospace, Defense, and Others) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Industry Forecast Till 2035

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Summary Table of Contents Segmentation Download PDF

Intelligent Power Modules Market Summary

As per Market Research Future analysis, the Intelligent Power Module Market Size was estimated at 1.79 USD Billion in 2024. The Intelligent Power Module industry is projected to grow from 1.934 USD Billion in 2025 to 4.196 USD Billion by 2035, exhibiting a compound annual growth rate (CAGR) of 8.05% during the forecast period 2025 - 2035

Key Market Trends & Highlights

The Intelligent Power Module Market is poised for substantial growth driven by technological advancements and increasing demand for energy-efficient solutions.

  • The market is experiencing a rising demand for electric vehicles, particularly in North America, which is currently the largest market.
  • Integration of smart technologies is becoming increasingly prevalent, especially in the Asia-Pacific region, recognized as the fastest-growing market.
  • The 6-Pack segment remains the largest, while the 101A-600A segment is emerging as the fastest-growing category within the market.
  • Advancements in semiconductor technology and the growing adoption of electric vehicles are key drivers propelling market expansion.

Market Size & Forecast

2024 Market Size 1.79 (USD Billion)
2035 Market Size 4.196 (USD Billion)
CAGR (2025 - 2035) 8.05%

Major Players

Infineon Technologies (DE), ON Semiconductor (US), Texas Instruments (US), STMicroelectronics (FR), Mitsubishi Electric (JP), NXP Semiconductors (NL), Renesas Electronics (JP), Toshiba (JP), Vishay Intertechnology (US)

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Intelligent Power Modules Market Trends

The Intelligent Power Module Market is currently experiencing a transformative phase, driven by the increasing demand for energy efficiency and the growing adoption of renewable energy sources. This market encompasses a range of applications, including electric vehicles, industrial automation, and consumer electronics, all of which require advanced power management solutions. As technology evolves, the integration of intelligent features within power modules is becoming more prevalent, allowing for enhanced performance and reliability. Furthermore, the emphasis on reducing carbon footprints is propelling innovations in this sector, as manufacturers strive to develop products that align with sustainability goals. In addition, the competitive landscape of the Intelligent Power Module Market is characterized by a surge in research and development activities. Companies are investing in cutting-edge technologies to improve the functionality and efficiency of their offerings. Collaborations and partnerships among industry players are also on the rise, as stakeholders seek to leverage each other's strengths to accelerate product development. This dynamic environment suggests that the market will continue to evolve, with new entrants and established firms alike contributing to its growth and diversification. The future appears promising, as advancements in semiconductor technology and power electronics pave the way for smarter, more efficient solutions in power management.

Rising Demand for Electric Vehicles

The Intelligent Power Module Market is witnessing a notable increase in demand for electric vehicles, which necessitate advanced power management systems. This trend is likely to drive innovation in power modules, as manufacturers focus on enhancing efficiency and performance to meet the specific requirements of electric drivetrains.

Integration of Smart Technologies

There is a growing trend towards the integration of smart technologies within power modules. This development enables real-time monitoring and control, which enhances the overall efficiency and reliability of power systems. As industries seek to optimize their operations, the adoption of intelligent features is expected to rise.

Focus on Renewable Energy Solutions

The shift towards renewable energy sources is significantly influencing the Intelligent Power Module Market. As more organizations aim to reduce their reliance on fossil fuels, the demand for power modules that can efficiently manage renewable energy systems is likely to increase, fostering innovation and development in this area.

Intelligent Power Modules Market Drivers

Increased Focus on Energy Efficiency

The Intelligent Power Module Market is witnessing a heightened focus on energy efficiency across various sectors. As industries strive to reduce operational costs and meet regulatory standards, the demand for energy-efficient solutions is escalating. Intelligent power modules are integral to achieving these goals, as they facilitate better power management and minimize energy losses in electrical systems. Recent studies suggest that implementing advanced power electronics can lead to energy savings of up to 30% in industrial applications. This trend is particularly relevant in sectors such as manufacturing and renewable energy, where efficiency is paramount. As organizations increasingly recognize the economic and environmental benefits of energy efficiency, the Intelligent Power Module Market is likely to expand, driven by the need for innovative power solutions that align with sustainability objectives.

Growing Adoption of Electric Vehicles

The Intelligent Power Module Market is significantly influenced by the growing adoption of electric vehicles (EVs). As governments and consumers increasingly prioritize sustainability, the demand for efficient power management solutions in EVs is surging. Intelligent power modules play a critical role in managing power distribution and enhancing the performance of electric drivetrains. Recent data indicates that the EV market is expected to reach a valuation of over 800 billion by 2027, with a substantial portion of this growth attributed to advancements in power electronics. This trend is likely to drive the demand for intelligent power modules, as manufacturers seek to optimize energy consumption and improve vehicle range. Consequently, the Intelligent Power Module Market is poised for robust growth, driven by the electrification of transportation and the need for efficient power solutions.

Integration of Smart Grid Technologies

The Intelligent Power Module Market is being propelled by the integration of smart grid technologies. As energy systems evolve towards greater automation and connectivity, intelligent power modules are becoming essential components in smart grid applications. These modules enable real-time monitoring and control of power distribution, enhancing grid reliability and efficiency. The Intelligent Power Module is projected to grow significantly, with investments in smart infrastructure expected to exceed 100 billion by 2026. This growth is likely to create substantial opportunities for the Intelligent Power Module Market, as utilities and energy providers seek to implement advanced power management solutions. The integration of intelligent power modules into smart grids not only improves operational efficiency but also supports the transition towards renewable energy sources, further driving market demand.

Advancements in Semiconductor Technology

The Intelligent Power Module Market is experiencing a notable transformation due to advancements in semiconductor technology. Innovations in materials such as silicon carbide (SiC) and gallium nitride (GaN) are enhancing the efficiency and performance of power modules. These materials allow for higher voltage and temperature operations, which are crucial for applications in electric vehicles and renewable energy systems. The market for SiC and GaN devices is projected to grow significantly, with estimates suggesting a compound annual growth rate (CAGR) of over 20% in the coming years. This technological evolution not only improves energy efficiency but also reduces the overall size and weight of power modules, making them more suitable for compact applications. As a result, the Intelligent Power Module Market is likely to witness increased adoption across various sectors, including automotive and industrial applications.

Rising Demand for Renewable Energy Solutions

The Intelligent Power Module Market is increasingly influenced by the rising demand for renewable energy solutions. As the world shifts towards sustainable energy sources, the need for efficient power conversion and management becomes critical. Intelligent power modules are pivotal in optimizing the performance of renewable energy systems, such as solar inverters and wind turbines. Recent forecasts indicate that the renewable energy market is expected to surpass 2 trillion by 2030, with a significant portion of this growth attributed to advancements in power electronics. This trend is likely to drive the adoption of intelligent power modules, as they enhance the efficiency and reliability of renewable energy systems. Consequently, the Intelligent Power Module Market is poised for growth, fueled by the global transition towards cleaner energy solutions.

Market Segment Insights

By Circuit Configuration: 6-Pack (Largest) vs. 7-Pack (Fastest-Growing)

The Intelligent Power Module Market exhibits a diverse distribution of circuit configurations, with the 6-Pack segment holding the largest market share. This configuration has been favored for its efficient power management capabilities and adaptability to various applications. Meanwhile, the 7-Pack segment, characterized by its enhanced power density and thermal performance, is gaining traction, indicating a shift towards more integrated solutions in power electronics. The growth trends in this segment are largely driven by the increasing demand for energy-efficient devices and compact designs in industrial applications. The dual configuration emerges as a notable driver in specific applications requiring robust performance, while phase bridge configurations are becoming increasingly relevant in high-power applications. Overall, innovation and market demand for higher efficiency are propelling growth across these configurations.

6-Pack (Dominant) vs. 7-Pack (Emerging)

The 6-Pack configuration is currently the dominant player in the Intelligent Power Module Market, recognized for its proven reliability and versatility across numerous applications. It is often employed in industrial drives, renewable energy solutions, and electric vehicles due to its capability to handle significant power loads. On the other hand, the 7-Pack configuration is emerging rapidly, distinguished by its compact design and superior thermal performance compared to its predecessors. This segment is particularly attractive for applications that prioritize space conservation and energy efficiency. The innovative features of the 7-Pack configuration position it well for future growth as demand for more efficient power solutions escalates in various sectors.

By Current Rating: Up to 100A (Largest) vs. 101A-600A (Fastest-Growing)

The Intelligent Power Module Market's current rating segment reveals distinct market share distribution among different categories. The 'Up to 100A' range holds the largest share, attributed to its widespread applications in various consumer electronics and automotive sectors. In contrast, the '101A-600A' category is experiencing exponential growth as industries increasingly demand higher current ratings for applications in renewable energy and industrial automation, thus reshaping the competitive landscape.

Current Rating: Up to 100A (Dominant) vs. 101A-600A (Emerging)

The 'Up to 100A' segment is dominated by compact and energy-efficient designs, catering primarily to consumer electronics and small motor drives, which require lower current ratings. This segment leads due to its established manufacturing processes and strong supply chain networks. Conversely, the '101A-600A' segment is emerging with rapid advancements in technology and increasing demand for robust solutions in electric vehicles and industrial applications. This range is characterized by higher power density and efficiency, making it attractive in sectors that prioritize performance and sustainability.

By Voltage: Up to 600V (Largest) vs. 601V-1200V (Fastest-Growing)

In the Intelligent Power Module Market, the voltage segment shows a clear delineation in market share distribution. The 'Up to 600V' category commands the largest share, largely due to its extensive applications in consumer electronics, automotive, and industrial applications. It has established a stronghold owing to the growing demand for efficient and reliable power management solutions in these sectors. Meanwhile, the '601V-1200V' segment is gaining traction as industries increasingly seek high-efficiency systems to handle increased power requirements, positioning it as the fastest-growing segment.

Voltage: Up to 600V (Dominant) vs. 601V-1200V (Emerging)

The 'Up to 600V' voltage segment stands as the dominant player in the Intelligent Power Module Market, driven by widespread adoption across various industries including renewable energy, automotive, and consumer electronics. Its popularity can be attributed to its compatibility with low to medium power applications, ensuring effective energy management and reduced costs. In contrast, the '601V-1200V' segment is emerging rapidly, appealing to industries looking for advanced solutions capable of managing higher power levels efficiently. As sectors such as electric vehicles and renewable energy expand, this segment is likely to see increased investments, fostering innovation and competitive advantages.

By Power Devices: IGBT (Largest) vs. MOSFET (Fastest-Growing)

In the Intelligent Power Module Market, IGBT holds a significant market share due to its established presence in various applications such as motor drives and renewable energy systems. The versatility of IGBT in handling high voltage and current makes it a preferred choice for many industries, thereby maintaining its dominant market position. In contrast, MOSFET, while having a smaller market share, is witnessing rapid adoption due to its efficiency in low-voltage applications and increasing use in electric vehicles, which has been driving its demand. The growth of the IGBT segment is primarily driven by its effectiveness in power electronics, facilitating advancements in energy efficiency and performance. On the other hand, the MOSFET segment is expected to grow at a swift pace owing to the rising demand for efficient energy solutions and the shift towards more compact power devices. Factors such as technological advancements and the trend towards electrification in various sectors, especially automotive, are propelling growth for MOSFETs, highlighting the dynamic nature of this segment.

Power Devices: IGBT (Dominant) vs. MOSFET (Emerging)

IGBTs are critical in the Intelligent Power Module Market due to their ability to handle high power and their robustness, making them ideal for applications such as inverters and converters. Their dominance is characterized by widespread adoption across sectors like industrial automation, renewable energy, and transportation. In contrast, MOSFETs are emerging as a vital component, especially in lower voltage applications, due to their faster switching capabilities and efficiency. The increasing focus on sustainable energy and electric vehicles is propelling MOSFET adoption, making it a key player for future developments. The juxtaposition of IGBT's established prowess and MOSFET's emerging potential reflects the diverse demands of modern electrical applications.

By Verticals: Consumer Electronics (Largest) vs. Automotive (Fastest-Growing)

In the Intelligent Power Module Market, the verticals segment exhibits varied market share distributions, with Consumer Electronics leading the pack. This sector can be attributed to the increasing adoption of energy-efficient solutions in consumer devices, which demand high-performance power management. Automotive follows closely, driven by the rise of electric vehicles and advanced driver-assistance systems needing sophisticated power management solutions to optimize performance and efficiency. The growth trends within this segment reflect a strong shift towards sustainable energy solutions. Factors such as the proliferation of electric vehicles, the pursuit of energy efficiency in manufacturing processes, and increasing government support for eco-friendly initiatives are considerably boosting the automotive sector. Additionally, the Consumer Electronics segment continues to grow in response to rising demand for smart devices that require advanced power management capabilities.

Consumer Electronics: Dominant vs. Automotive: Emerging

The Consumer Electronics sector within the Intelligent Power Module Market is characterized by its extensive use of power management technologies across various devices, including smartphones, laptops, and home appliances. This segment's dominance stems from the relentless innovation in consumer goods, focusing on energy efficiency and compact designs. Conversely, the Automotive sector is emerging rapidly, fueled by the transition toward electric and hybrid vehicles. Companies in this vertical are now prioritizing advanced intelligent power modules to meet the increasing power demands of electric drivetrains while maintaining thermal management and efficiency. The synergy between consumer electronics and automotive in adopting smart power solutions reveals an overarching trend where both sectors drive technological advancements in power management.

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Regional Insights

By Region, the study delivers market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific intelligent power module market area will dominate this market over the forecast period. The consumer electronics and automotive industries are expanding quickly in China, projected to raise demand for intelligent power modules in this region. Moreover, China intelligent power module market held the largest market share, and the Indian intelligent power module market was the fastest-growing market in the Asia-Pacific region.

Further, the prominent countries studied in the market report are The U.S., Canada, German, France, Italy, Spain, the UK, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: GLOBAL WEIGHT LOSS MARKET SHARE BY REGION 2022 (%)

Europe intelligent power module market accounts for the second-largest market share owing to the high utilization of renewable energy in end-user industries and more increased penetration of developed consumer electronic products, along with the growing EV usage. Further, the German intelligent power module market held the largest market share, and the UK intelligent power module market was the fastest-growing market in the European region.

The North America intelligent power module market is expected to grow at the fastest CAGR from 2023 to 2032. This is owing to the improved demand for intelligent power modules is greatly enhancing as electric and hybrid car adoption rates increase in the region. Moreover, China intelligent power module market held the largest market share, and the Indian intelligent power module market was the fastest-growing market in the North America region.

Intelligent Power Modules Market Regional Image

Key Players and Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the intelligent power module market expand even more. Market participants are also undertaking several strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The intelligent power module industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global intelligent power module industry to benefit clients and increase the market sector. Major players in the intelligent power module market, including Mitsubishi Electric Corporation, Semiconductor Components Industries, LLC, Infineon Technologies AG, Fuji Electric Co., Ltd., and others, are attempting to extend market demand by investing in research and development operations.STMicroelectronics designs develops, manufactures, and markets semiconductor integrated circuits and discrete devices. The Company's products are used in the telecommunications, consumer electronics, automotive, computer, and industrial sectors. Geographically, customers are located in North America, Europe, and the Asia Pacific region.

In December STMicroelectronics launched high-power modules for electric vehicles that boost performance and driving range. ST's new silicon-carbide (SiC) power modules have been selected for Hyundai's E-GMP electric-vehicle platform shared by KIA EV6 and several models.Siemens Mobility GmbH operates as a railway company. The Company offers intelligent and efficient mobility solutions for urban, interurban, and freight transportation. Siemens Mobility serves clients worldwide.

In May Siemens Mobility and Mitsubishi Electric Europe B.V. collaborated on SiC intelligent power module technology to allow efficient and sustainable mobility and electrical energy savings in the transportation sector.

Key Companies in the Intelligent Power Modules Market include

Industry Developments

May 2022: Sensitron declares the SPG025N035P1B GaN Half Bridge Intelligent Power Module module, which employs Efficient Power Conversion's 350 V EPC2050 eGaN FET. Sensitron decreased the size of their solution by 60% by replacing typical silicon FETs with EPC's 350 V and EPC2050 GaN FET while also boosting the module's superb junction-to-case thermal conduction.

April 2022: Infineon Technologies launched a 600V, 15A intelligent power module for home appliances, focusing on drives for room air conditioners. The company's CIPOS Tiny IM323-L6G module is based on TRENCHSTOP IGBT RC-D2 transistors with an SOI gate driver technology and built-in diode to boost efficiency and reliability, reducing the cost and system size.

March 2022: Microchip Technology Inc. expanded its SiC portfolio by releasing the industry's lowest on-resistance [RDS 3.3 kV SiC MOSFETs and most elevated current-rated SiC SBDs available in the market, allowing designers to take advantage of reliability, ruggedness, and performance. With the growth of Microchip's SiC portfolio, developers are equipped with the devices to create lighter, smaller, and more efficient solutions for electrified transportation, aerospace, renewable energy, and industrial applications.

Future Outlook

Intelligent Power Modules Market Future Outlook

The Intelligent Power Module Market is projected to grow at 8.05% CAGR from 2025 to 2035, driven by advancements in energy efficiency, electric vehicles, and renewable energy integration.

New opportunities lie in:

  • Development of modular power solutions for electric vehicle charging stations.
  • Expansion into smart grid technologies for enhanced energy management.
  • Creation of customized power modules for industrial automation applications.

By 2035, the market is expected to achieve robust growth, positioning itself as a leader in energy management solutions.

Market Segmentation

Intelligent Power Modules Market Voltage Outlook

  • Up to 600V
  • 601V-1200V
  • More than 1200V

Intelligent Power Modules Market Verticals Outlook

  • Consumer Electronics
  • Automotive
  • Industrial
  • Aerospace
  • Defense
  • Others

Intelligent Power Modules Market Power Devices Outlook

  • IGBT
  • MOSFET

Intelligent Power Modules Market Current Rating Outlook

  • Up to 100A
  • 101A-600A
  • More than 600A

Intelligent Power Modules Market Circuit Configuration Outlook

  • 6-Pack
  • 7-Pack
  • Phase Bridge
  • Dual

Report Scope

MARKET SIZE 20241.79(USD Billion)
MARKET SIZE 20251.934(USD Billion)
MARKET SIZE 20354.196(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)8.05% (2025 - 2035)
REPORT COVERAGERevenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR2024
Market Forecast Period2025 - 2035
Historical Data2019 - 2024
Market Forecast UnitsUSD Billion
Key Companies ProfiledInfineon Technologies (DE), ON Semiconductor (US), Texas Instruments (US), STMicroelectronics (FR), Mitsubishi Electric (JP), NXP Semiconductors (NL), Renesas Electronics (JP), Toshiba (JP), Vishay Intertechnology (US)
Segments CoveredCircuit Configuration, Current Rating, Voltage Rating, Power Devices, Verticals, Region
Key Market OpportunitiesIntegration of advanced semiconductor technologies enhances efficiency in the Intelligent Power Module Market.
Key Market DynamicsRising demand for energy efficiency drives innovation and competition in the Intelligent Power Module market.
Countries CoveredNorth America, Europe, APAC, South America, MEA

Market Highlights

Author
Aarti Dhapte
Team Lead - Research

She holds an experience of about 6+ years in Market Research and Business Consulting, working under the spectrum of Information Communication Technology, Telecommunications and Semiconductor domains. Aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. Her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.

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FAQs

What is the projected market valuation of the Intelligent Power Module Market by 2035?

The Intelligent Power Module Market is projected to reach a valuation of 4.196 USD Billion by 2035.

What was the market valuation of the Intelligent Power Module Market in 2024?

In 2024, the market valuation of the Intelligent Power Module Market was 1.79 USD Billion.

What is the expected CAGR for the Intelligent Power Module Market during the forecast period 2025 - 2035?

The expected CAGR for the Intelligent Power Module Market during the forecast period 2025 - 2035 is 8.05%.

Which companies are considered key players in the Intelligent Power Module Market?

Key players in the Intelligent Power Module Market include Infineon Technologies, ON Semiconductor, Texas Instruments, and others.

What are the segment valuations for the Circuit Configuration category in the Intelligent Power Module Market?

The Circuit Configuration segment includes valuations such as 0.537 USD Billion for 6-Pack and 0.447 USD Billion for Phase Bridge.

How does the Current Rating segment perform in the Intelligent Power Module Market?

The Current Rating segment shows valuations of 0.897 USD Billion for 101A-600A and 0.356 USD Billion for more than 600A.

What are the projected valuations for the Voltage segment in the Intelligent Power Module Market?

The Voltage segment is projected to reach 0.716 USD Billion for more than 1200V by 2035.

What is the performance of the Power Devices segment in the Intelligent Power Module Market?

The Power Devices segment includes valuations of 1.1 USD Billion for IGBT and 0.69 USD Billion for MOSFET.

Which verticals are contributing to the Intelligent Power Module Market growth?

Verticals such as Automotive and Consumer Electronics are projected to contribute 0.55 USD Billion and 0.45 USD Billion, respectively.

Research Approach

Research Methodology on Intelligent Power Modules Market

Introduction

The market for intelligent power modules is projected to register a steady compound annual growth rate during the forecast period of 2023 to 2030. This can be attributed to the increasing demand for energy-efficient solutions and digital power capabilities. The intelligent power module (IPM) is a power semiconductor package with improved reliability and extended functions that can feed high-power as well as low-power devices efficiently. Through the integration of power modules and microprocessors, the complexity of the system is reduced significantly.

Research Methodology

This research aims to provide an in-depth assessment of the intelligent power modules market. To do this, it undertakes a comprehensive analysis of the market using the available tools and major market players.

Study Design

This is a qualitative study using both primary and secondary research. It focuses on in-depth interviews and gathering observational data from the available literature. The study also calls for establishing relationships between geographical regions and their respective trends in the market. Additionally, we will also aim to forecast consumer demand and evaluate customer preferences in order to understand the nature of consumer decision-making in the market.

Data Collection

This research will feature a two-layer data collection process. Firstly, primary sources are tapped for data collection through semi-structured in-depth present and former customers, and interviews with industry experts and relevant stakeholders. Secondly, secondary sources including published papers, paid and open-source databases, customer feedback forms and customer questionnaires are used to validate the conclusion of the study.

Sample Selection and Sampling Procedure

The sample selection is based on convenience sampling. The data collection process is conducted in phases and the sample is accumulated from representative sources. This will include customers, manufacturers, vendors and industry specialists who have detailed knowledge about the intelligent power modules market.

Data Analysis Methods

The data analysis process in this research involves deriving insights and observations from primary and secondary sources. This is facilitated by a combination of desk research, field research, correlation and regression analysis and the use of financial metrics.

Results Validation

The results of this study are validated through technical assessment and feedback from industry experts and available literature. The results are interpreted and cross-checked with the market data collected to ensure that all the findings are reliable and accurate.

Endnotes

This research is expected to contribute a comprehensive understanding of the intelligent power modules market and its dynamics. Through this insight, the research will help stakeholders to better anticipate and leverage opportunities for value creation. Furthermore, it is expected to provide a sound foundation for future research into the intelligent power modules market.

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