by Arduino is an open-source electronics platform based on easy-to-use hardware and software. Arduino boards are used in various do-it-yourself projects like home automation, robotics, monitoring sensors etc. It provides numerous APIs that helps developers develop prototypes rapidly. The Arduino platform has gained popularity among hobbyists, students, and professionals alike. Arduino compatible boards provide similar functionality at lower costs making electronics and coding accessible to more people. These boards support the Arduino IDE allowing them to be programmed just like official Arduino boards.
The global Arduino Compatible Market is estimated to be valued at US$ 250 million in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increased Adoption in Robotics
The increased adoption of Arduino compatible boards in robotics applications is expected to drive the market growth over the forecast period. Arduino offers an affordable, flexible and easy to use platform for rapid development of prototypes in robotics. Features like analog and digital pins, interrupt capability and serial communication make Arduino powerful for various robotic applications like movements, sensor integration and wireless communication. Robotics kit integrators are finding Arduino technology cost effective for educational and hobby robotics projects fueling the demand for Arduino compatible boards.
Opportunity in Internet of Things
The surging adoption of Internet of Things (IoT) devices offers significant opportunity for Arduino compatible boards market. Arduino offers an open hardware platform for developing customized IoT solutions in fields like industrial automation, home automation, healthcare etc. Arduino Wi-Fi and cellular enabled boards provide connectivity options for IoT applications. Open source Arduino libraries and community support makes developing IoT prototypes easier. This is encouraging electronics hobbyists and enterprises to leverage Arduino capabilities for Internet of Things opportunities thereby positively impacting its growth.
Segment Analysis
Arduino Compatible market is dominated by development boards and modules sub segment. This sub segment currently holds around 60% of total market share due to wide applications of development boards and modules in industries like manufacturing, education and entertainment. Arduino compatible development boards and modules are used in machine control, robotics, home automation and other industrial automation applications which is driving the growth of this sub segment.
PEST Analysis
Political: Arduino compatible market is governed by various regulations regarding import and export of electronic components. Moderate trade policies by key regulators globally are positively impacting the market growth.
Economic: Emerging applications of IoT and advancement in technologies is driving the demand from industries like manufacturing, consumer electronics, automotive etc., thereby positively influencing the economic factors.
Social: Rising interest of hobbyists and Maker community in fields like robotics, 3D printing and development of open source projects using Arduino boards is acting as a key social driver. Also, incorporation of Arduino boards in STEM education is socially impacting the demand.
Technological: Continuous innovation in microcontrollers, sensors and easy to use programming platforms is allowing development of more powerful and affordable Arduino compatible boards and modules. Also, integration of Wi-Fi, Bluetooth etc. in boards is allowing connectivity with other devices.
Key Takeaways
The Global Arduino Compatible Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Arduino Compatible Market is estimated to be valued at US$ 250 million in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030.
Regional analysis reveals that Asia Pacific region currently dominates the market and is expected to maintain its leading position during the forecast period supported by rising electronics manufacturing industry in countries like China, Taiwan and presence of key third-party manufacturers.
Key players operating in the Arduino Compatible market include Arduino, Adafruit, Digistump, Silicon Labs, SparkFun Electronics, Seeed Studio, Waveshare, NXP Semiconductors and Microchip Technology. These players collectively accounts for over 60% of global market share. Arduino LLC is the pioneer player who offers a diverse range of development boards and microcontrollers to make community and industries.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
