Global Automotive Intelligent Power Device Market Overview
As per MRFR analysis, the Automotive Intelligent Power Device Market Size was estimated at 8.79 (USD Billion) in 2022. The Automotive Intelligent Power Device Market Industry is expected to grow from 9.75(USD Billion) in 2023 to 24.58 (USD Billion) by 2032. The Automotive Intelligent Power Device Market CAGR (growth rate) is expected to be around 10.83% during the forecast period (2024 - 2032).
Key Automotive Intelligent Power Device Market Trends Highlighted
The increasing demand for fuel-efficient and eco-friendly vehicles has significantly driven the growth of the automotive intelligent power device market. These devices are essential for optimizing engine performance, reducing emissions, and improving fuel economy. The rising popularity of electric and hybrid vehicles is further fueling demand for intelligent power devices, as they play a crucial role in managing the complex power distribution and control systems in these vehicles. Additionally, advancements in semiconductor technology are enabling the development of more compact, efficient, and cost-effective intelligent power devices, making them increasingly attractive to manufacturers.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Intelligent Power Device Market Drivers
Increasing Demand for Electrification
The current trend in the automotive industry is driven by a growing demand for electric and hybrid vehicles. This is largely due to the increasing environmental concerns and strict emission regulations, as well as the implementation of many government schemes by national and regional governments encouraging the use of clean vehicles. High voltage equipment and electrical devices have many applications in modern vehicles and electric and hybrid cars.
First, some devices, such as power modules, are used to control the necessary electric affluence under high voltage values used to power electromotors. Additionally, battery management systems are responsible for monitoring the condition of the installed energy storage device and controlling its charging and, in some cases, discharging processes. Some other devices, such as the onboard chargers, are essential in the charging of the electric engine from an overseas power source.
The integration of similar devices in electric and hybrid vehicles and their increasing use translates to a growing demand for the product. The increasing demand for electric and hybrid vehicles is the primary driver of consuming intelligent power devices in the automotive industry. In recent years, there has been a rapid increase in the number of consumers choosing to purchase electric and hybrid cars over conventional vehicles driven by combustion engines. This trend is not expected to change in the near future, and there will be an even higher rate of electrification of all types of cars in the foreseeable future. This, in turn, will help drive the growth of the supplier industry of automotive intelligent power devices.
Advancements in Power Electronics Technology
The increase in the automotive intelligent power device market can also be attributed to advancements in the power electronics technology field. Wide bandgap has led to the production of wide bandgap semiconductors such as silicon carbide and gallium nitride, which exhibit significantly better performance and high efficiency. The WBG are ideal because they offer a superior electrical feature compared to that of the silicon. WBG has improved electrical properties because they can operate at high frequencies, hold high voltages, and have low switching power loss.
When used in the production of automotive intelligent power devices, WBG semiconductors lead to high power density levels in addition to low system weight and size. The use of advanced packaging systems, such as embedded substrates or direct bonding, has also led to the miniaturization of automotive intelligent power devices. They minimize the packaging parasitic and heat heights.
Growing Adoption of Advanced Driver Assistance Systems (ADAS)
The growing adoption of advanced driver assistance systems (ADAS) is another key driver in the automotive intelligent power device market. ADAS features, such as adaptive cruise control, lane departure warning, and automatic emergency braking, require sophisticated power management capabilities to ensure reliable and efficient operation. Intelligent power devices play a critical role in managing the power distribution and control for ADAS systems. They enable real-time monitoring and adjustment of the power supply, ensuring that critical systems have the necessary power to operate effectively. As the demand for vehicles with ADAS capabilities increases, the market for automotive intelligent power devices is expected to expand.
Automotive Intelligent Power Device Market Segment Insights:
Automotive Intelligent Power Device Market Device Integration Insights
The Automotive Intelligent Power Device Market is segmented by Device Integration, namely, Stand-Alone Intelligent Power Devices, which are discrete components providing specific power management functions, such as voltage regulation, current sensing, and protection, and Integrated Intelligent Power Devices that combine multiple power management functions into a single package. Such devices offer size, weight and cost advantages through their integration.
The Stand-Alone Intelligent Power Devices segment held a major share of the Automotive Intelligent Power Device Market’ revenue in 2023, as they are more flexible and are used across a wider range of applications.The Integrated Intelligent Power Devices segment, however, is expected to exhibit rapid growth during the forecast period because the increasing prevalence of electric and hybrid vehicles spurs the demand for efficient and compact power management solutions.
Overall, the Stand-Alone Intelligent Power Devices segment’s share was approximately 60% in 2023, whereas the Integrated Intelligent Power Devices segment claimed the remaining 40%. By 2032, these figures are anticipated to reach roughly 45% and 55%, respectively. The Integrated Intelligent Power Devices segment is likely to be driven by the increasing demand for efficient fuel consumption and the increasing popularity of electric and Android vehicles.Moreover, the proliferation of advanced driver-assistance systems, also known as ADAS, is expected to spur the growth of this segment.
Integrated Intelligent Power Devices are also available in a single, compact package, which is often lighter and smaller than several stand-alone components. Such devices are also typically cheaper to implement, as the cost of manufacturing discrete devices adds up considerably. Integrated Intelligent Power Devices also offer better performance, higher levels of efficiency, and increased reliability. Thus, the integration segment of the Automotive Intelligent Power Device Market is expected to exhibit substantial growth during the forecast period.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Intelligent Power Device Market Power Rating Insights
The Automotive Intelligent Power Device Market is segmented by power rating into low power (below 100 watts), medium power (100 watts - 1 kilowatt), and high power (above 1 kilowatt). The high-power segment is expected to witness the highest growth rate during the forecast period. The low-power segment accounted for the largest share of the Automotive Intelligent Power Device Market revenue in 2023. This segment is expected to grow at a steady pace during the forecast period, driven by the increasing adoption of low-power intelligent power devices in automotive applications such as engine control, body control, and infotainment systems.
The medium power segment is expected to grow at a significant rate during the forecast period. This growth is attributed to the increasing demand for medium-power intelligent power devices in applications such as electric power steering, electric braking systems, and electronic stability control systems. The high-power segment is expected to witness the highest growth rate during the forecast period. This growth is driven by the increasing adoption of high-power intelligent power devices in applications such as electric vehicles, hybrid electric vehicles, and plug-in hybrid electric vehicles.
Automotive Intelligent Power Device Market Application Insights
Application Segment The automotive intelligent power device market is segmented based on application into powertrain, body electronics, and ADAS and safety systems. Powertrain applications accounted for the largest revenue share in 2023, and this trend is expected to continue during the forecast period. The growth of the powertrain segment can be attributed to the increasing adoption of electric and hybrid vehicles, which require more sophisticated powertrain systems. Body electronics applications are expected to grow at a significant rate, driven by the rising demand for comfort and convenience features in vehicles.
ADAS and safety systems applications are also expected to witness strong growth as governments around the world implement stricter safety regulations. In 2023, the powertrain segment is expected to account for approximately USD 4.5 billion of the Automotive Intelligent Power Device Market revenue. The body electronics segment is expected to account for approximately USD 2.8 billion, and the ADAS and safety systems segment is expected to account for approximately USD 2.4 billion. By 2032, the powertrain segment is expected to reach approximately USD 10.2 billion, the body electronics segment is expected to reach approximately USD 6.3 billion, and the ADAS and safety systems segment is expected to reach approximately USD 8.1 billion.
Automotive Intelligent Power Device Market Voltage Range Insights
The Voltage Range segment of the Automotive Intelligent Power Device Market is bifurcated into Low Voltage (Below 48 Volts) and High Voltage (48 Volts and Above). The low Voltage segment held a larger market share in 2023, and it is projected to continue its dominance during the forecast period. The growth of this segment can be attributed to the increasing adoption of low-voltage systems in electric and hybrid vehicles. High Voltage segment is expected to witness significant growth over the forecast period, owing to the rising demand for high-power devices in electric vehicles.The Automotive Intelligent Power Device Market revenue for the High Voltage segment is projected to reach USD 12.89 billion by 2032, exhibiting a CAGR of 13.5% during the forecast period.
Automotive Intelligent Power Device Market Regional Insights
Regionally, North America is projected to dominate the market, capturing a significant share due to the presence of major automotive manufacturers and the increasing adoption of electric and hybrid vehicles. Europe follows closely, driven by stringent emission regulations and government incentives for eco-friendly vehicles. The APAC region is poised for substantial growth, fueled by the rising demand for automobiles in developing countries like China and India. South America and MEA are expected to witness moderate growth due to the gradual adoption of intelligent power devices in the automotive industry.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Intelligent Power Device Market Key Players And Competitive Insights:
The Automotive Intelligent Power Device Market is highly competitive, with several leading players holding significant market share. Major players in the industry include Infineon Technologies, NXP Semiconductors, Texas Instruments, Renesas Electronics, and STMicroelectronics. These companies have established a strong presence in the market through strategic acquisitions, partnerships, and ongoing investments in research and development. The competitive landscape is characterized by intense competition, continuous innovation, and the emergence of new entrants.
Leading players focus on developing advanced technologies and solutions to cater to the evolving needs of the automotive industry.Among the leading players in the Automotive Intelligent Power Device Market, Infineon Technologies stands out as a prominent competitor. The company offers a comprehensive portfolio of automotive-grade power devices, including power modules, gate drivers, and power management ICs. Infineon's focus on innovation and customer-centric approach has enabled it to maintain a strong market position. The company has established a reputation for delivering reliable and high-performance solutions that meet the stringent requirements of the automotive industry.
A key competitor in the Automotive Intelligent Power Device Market is NXP Semiconductors. The company offers a wide range of power management solutions for automotive applications, including microcontrollers, power modules, and integrated power electronics. NXP's focus on automotive-specific technologies has positioned it as a leading player in the market. The company's commitment to quality and reliability has earned it a strong customer base in the automotive sector. NXP continues to invest in research and development to enhance its product portfolio and maintain its competitive advantage in the market.
Key Companies in the Automotive Intelligent Power Device Market Include:
- Vishay
- On Semiconductor
- Infineon Technologies AG
- Analog Devices
- Texas Instruments
- Microchip Technology
- Infineon Technologies
- Murata Manufacturing
- NXP Semiconductors
- STMicroelectronics
- Wolfspeed
- Toyota Motor Corporation
- Renesas Electronics
- ROHM Semiconductor
- Mitsubishi Electric
Automotive Intelligent Power Device Market Industry Developments
The growing demand for electric and hybrid vehicles is driving the growth of the automotive intelligent power device market. In 2023, the market was valued at USD 9.75 billion and is projected to reach USD 24.58 billion by 2032, exhibiting a CAGR of 10.83% during the forecast period. Key factors contributing to this growth include government regulations promoting electric vehicle adoption, rising consumer preference for fuel-efficient vehicles, and technological advancements in power electronics.
Major players in the market are focusing on strategic partnerships and collaborations to expand their product offerings and gain a competitive edge. Recent developments include Infineon Technologies' acquisition of Cypress Semiconductor Corporation, which strengthens its position in the automotive semiconductor market, and Wolfspeed's partnership with Wolfspeed to develop and manufacture silicon carbide power modules for electric vehicles.
Automotive Intelligent Power Device Market Segmentation Insights
Automotive Intelligent Power Device Market Device Integration Outlook
- Stand-Alone Intelligent Power Devices
- Integrated Intelligent Power Devices
Automotive Intelligent Power Device Market Power Rating Outlook
- Low Power (Below 100 Watts)
- Medium Power (100 Watts - 1 Kilowatt)
- High Power (Above 1 Kilowatt)
Automotive Intelligent Power Device Market Application Outlook
- Powertrain (Engine Control, Transmission Control, Battery Management, etc.)
- Body Electronics (Lighting, HVAC, Infotainment, etc.)
- ADAS and Safety Systems (Radar, Lidar, Camera, etc.)
Automotive Intelligent Power Device Market Voltage Range Outlook
- Low Voltage (Below 48 Volts)
- High Voltage (48 Volts and Above)
Automotive Intelligent Power Device Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
8.79(USD Billion) |
| Market Size 2023 |
9.75(USD Billion) |
| Market Size 2032 |
24.58(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
10.83% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Vishay, On Semiconductor, Infineon Technologies AG, Analog Devices, Texas Instruments, Microchip Technology, Infineon Technologies, Murata Manufacturing, NXP Semiconductors, STMicroelectronics, Wolfspeed, Toyota Motor Corporation, Renesas Electronics, ROHM Semiconductor, Mitsubishi Electric |
| Segments Covered |
Device Integration, Power Rating, Application, Voltage Range, Regional |
| Key Market Opportunities |
1 Rising Electric Vehicle Production2 Technological Advancements3 Government Initiatives4 Increasing Safety Concerns5 Growing Demand for Convenience Features |
| Key Market Dynamics |
Rising demand for electric vehicles Government regulations for fuel efficiency Technological advancements Increasing adoption of ADAS and autonomous driving Growing need for power-efficient devices |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Automotive Intelligent Power Device Market is estimated to reach a value of 9.75 billion USD in 2023.
The market is projected to grow at a CAGR of 10.83% from 2024 to 2032.
North America is anticipated to dominate the market throughout the forecast period, owing to the rising demand for automobiles and the presence of major automotive manufacturers in the region.
The market growth is primarily driven by increasing demand for electric and hybrid vehicles, rising adoption of advanced driver assistance systems (ADAS), and government regulations promoting fuel efficiency.
Key players include Infineon Technologies, STMicroelectronics, Rohm Semiconductor, NXP Semiconductors, and Texas Instruments.
Automotive intelligent power devices are used in various applications, including engine control, transmission control, power steering, braking systems, and infotainment systems.
The market is projected to reach a value of 24.58 billion USD by 2032.
The market growth may be hindered by factors such as supply chain disruptions, fluctuations in raw material prices, and intense competition.
Key players are focusing on strategic partnerships, product innovation, and expanding their product portfolios to strengthen their market position.
The rising adoption of electric vehicles is driving demand for intelligent power devices used in powertrain systems and battery management systems.
