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Intelligent Power Devices Market Segmented By its applications such as Consumer Electronics, Automotive, Renewable Energy, Servo Drives, UPS.
Nowadays, the usage of electronic devices around the world is witnessing a rise. People are using electronic devices in daily life for multiple purposes. Most of these devices are electrically controlled such as, televisions, washing machine, UPS, and many more. To control the voltage and current, power intelligent devices are used. Intelligent power devices support system reliability improvement and unit down-sizing.
These power intelligent devices are manufactured to enhance the safety and robustness of the application. Power intelligent devices are used in many electronic devices of several industries, such as automotive, telecommunication, and electronic industries. The primary function of intelligent power devices is to distribute power and to protect devices from high voltages and current fluctuations.
Intelligent Power Devices have built-in peripheral functions and protection functions. To achieve maximum output, the part of a system may require a considerable amount of voltage, so to protect it from harsh conditions, an extra circuit is required. The need of this circuit makes the design of the board complex. This additional circuit is needed for safe, reliable, and better operations and is also known as intelligent power.
The intelligent power devices drive large current load on low on resistance, which contributes to reducing power consumption. These intelligent power devices are manufactured in compact sizes and also with high reliability. However, these are the few factors which are creating the potential growth and opportunities for the intelligent power devices market.
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Drivers
Control in high voltage fluctuations with better performance in air conditioners, refrigerators, washing machines and many more is the primary factor, which is driving the intelligent power devices. These intelligent power devices are used by several industries, to ensure the safety from voltage flow and safety of the appliance. These intelligent power devices are also used in automotive industry, especially in ignition devices.
Intelligent power devices control the flow of current while igniting or turning on any vehicle. Although, many companies are developing innovative, intelligent power devices to offer better safety in every other smart appliance, resulting in an increase in demand for intelligent power devices in the past few years.
Challenges
The market is getting hampered due to the fall in consumer electronics sector because of price sensitivity. The price of daily use electronic equipment is raising due to its manufacturing costs, which is directly affecting the intelligent power device market. So, the market carries low adoption rates of power electronic devices. Moreover, power dissipation and the costs are the factors which may hamper the growth of the intelligent power devices market in future.
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Key Players
The prominent players in Intelligent Power Devices market are: STMicroelectronics N.V., Sanken Electric Co., Ltd., Future Electronics Inc., ON Semiconductor Corporation, Mitsubishi Electric Corp., Fuji Electric Co., Ltd., Panasonic Corporation, Intel Corporation, Samsung Electronics, Texas Instruments, Digi-Key Electronics, Taiwan Semiconductor, and Fairchild Semiconductor International, Inc.
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On the geographic basis, APAC is anticipated to capture largest market share, owing to the well-developed telecommunication and television & broadcasting manufacturing companies with innovative technologies, and the presence of various innovative technologies in the region.
Europe and North America are also expected to gain substantial market share due to the introduction of new technologies, which includes digitalization and easy operations.
Also, APAC is supposed to be the fastest growing intelligent power device market as many companies are developing new technologies and innovations and also due to the government initiatives taken towards the improvement of technologies by the emerging economies such as India, China, and Japan.
The intelligent power device market in Latin America and MEA are also expected to witness high growth rates in the coming period due to the rise in digital technologies and adoption of smart technologies.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
