The Arduino Compatible Market is estimated to be valued at US$ 1.35 Bn in 2023 and is expected to exhibit a CAGR of 12. % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Arduino compatible boards are open-source platforms used for building electronics projects and interactive objects. Arduino boards can sense the environment by receiving input from sensors and can affect the physical world by controlling lights, motors and other physical devices. Some common uses of Arduino boards include home automation, robotics, 3D printing, and industrial control systems. Arduino boards work with a simple program known as a sketch which can be written using Arduino IDE, an open-source software.
Market Dynamics:
Two major drivers fueling the growth of Arduino compatible market are increasing adoption of IoT and growth of embedded systems. The introduction of IoT has helped connect physical devices over the Internet, enabling remote monitoring and control. Arduino boards are widely used as microcontrollers in IoT projects and devices due to their open-source nature and ease of use. Additionally, the rise of embedded systems in industries has also bolstered Arduino demand. Embedded systems integrated into machinery, vehicles, home appliances and industrial equipment rely heavily on microcontrollers like Arduino for control and monitoring applications. Their small size, versatility and competitive pricing make Arduino boards ideal for designing control logics in embedded products. Growing complexities in embedded system designs and spread of IoT is expected to further provide opportunities and drive the Arduino compatible market during the forecast period.
Segment Analysis
The Global Arduino Compatible Market Size is dominated by the educational and hobbyist sub-segment. This sub-segment accounts for more than 40% of the total market share due to the increasing popularity of IoT and makers movement. Projects related to home automation, 3D printing, robotics etc. are driving the sales of Arduino boards and compatible microcontrollers in this sub-segment.
PEST Analysis
Political: The government initiatives and funding for STEM education and maker culture is promoting the growth of Arduino compatible products in education institutes globally.
Economic: Declining prices of electronic components is positively impacting the average selling price of Arduino boards, thereby increasing their affordability. This is expected to drive volumes higher.
Social: Rising interest of young developers and enthusiasts in IoT, embedded systems and DIY electronics is fueling the demand. Social media is enabling knowledge sharing leading to innovative projects.
Technological: Advancements in microcontroller technology, wireless connectivity and programming tools are enhancing capabilities and ease of use of Arduino compatible solutions. This is expanding applications in industrial automation as well.
Key Takeaways
The global Arduino compatible market is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing penetration of IoT devices in industrial and consumer applications. The market size for 2023 is estimated to be US$ 1.35 Bn.
Regionally, North America captured over 30% share of the overall Arduino compatible market in 2023 led by widespread adoption in educational institutes and research labs across US and Canada. Europe follows with a share of 25% on back of supportive initiatives by European Commission for open-source hardware projects. Asia Pacific is anticipated to emerge as the fastest growing regional market, driven by the expanding electronics industry and a growing customer base in China and India.
Key players operating in the Arduino compatible market are Arduino, Adafruit, SparkFun, Seeed Studio, Microchip, NXP Semiconductors, STMicroelectronics, Texas Instruments, Cypress Semiconductor, Silicon Labs, Renesas Electronics, Infineon Technologies, Maxim Integrated, ON Semiconductor, Microchip Technology, Semtech, Analog Devices, ROHM Semiconductor, FTDI Chip, Intel. Arduino holds the largest share due to a well-established open-source community and extensive partner ecosystem. Adafruit and SparkFun are other major players focusing on educational and hobbyist category.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
