Intelligent Power Switches Market Size

Intelligent Power Switches Market size is expected to cross USD 66 Billion by the end of 2036, witnessing around 6% CAGR during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of intelligent power switches was over USD 2 Billion. The growing penetration of smart devices can be seen as a contributing factor to market growth. It was predicted that between 2023 and 2027, worldwide user penetration of the smart home would increase at a constant rate of 12.5 percentage points. The penetration rate of users is estimated to rise to 28.84 percent, a new peak for 2027 following four successive annual increases.

In addition, for safety features like windscreen wipers, power seats, and window lifters, intelligent power switches are also utilized in hydraulic valve control, commercial and agricultural vehicles, construction flap drivers, and safety relay replacement. For instance, STMicroelectronics introduced two intelligent power switches, the IPS160HF and IPS161HF, which are used in critical safety applications and have low-dissipative short-circuit protection in order to reduce power dissipation in the event of an output short.