IPM stands for Intelligent Power Module
it basically includes a series of Mosfets or igbts and their gate drivers
it is used in some high power applications requiring high frequency switching such as driving ac motors or dc to ac inverter circuits
it is an easy way to build a power section for your high voltage controller circuits, you can create your circuit without many peripheral devices
and also some of them have internal fault protection circuit such as short circuit or over voltage, and it helps you protect your circuit
here is the brief introduction of IPMs, if you still wanna here