by The global 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:
The Arduino Compatible Market comprises of microcontroller boards and integrated development environments used to build electronics projects, interactive objects, spaces, and physical devices connected to computers. Arduino Compatible boards are credited for simplified and easy programming compared to direct embedded programming. They are an optimal choice for student learning, making interactive projects more accessible. With digital inputs and outputs, analog inputs, and an ATmega328 or ATmega2560 microcontroller at their core, Arduino Compatible boards can sense the environment using a variety of sensors and sensors and control lights, motors, and other actuators.
Market key trends:
One of the key trends in the Global Arduino Compatible Market Size is the proliferation of IoT projects. Arduino Compatible boards have emerged as a powerful and affordable prototyping tool for IoT applications ranging from smart home devices to industrial automation. Their simplicity, ample community support, and wide range of sensors and components have made Arduino a preferred choice for bringing IoT concepts to life. Furthermore, the increasing focus on STEAM education is promoting hands-on learning with electronics and coding kits based on Arduino, thereby contributing to the market growth. Additionally, the rapid development of open-source hardware is enabling entrepreneurs to build innovative products on top of Arduino platforms, which is expected to present lucrative opportunities in the coming years.
Porter’s Analysis:
Threat of new entrants: The Arduino compatible market has moderate threat of new entrants as it requires significant investment and capability to develop hardware, software and maintain ecosystem. However, barriers are lower compared to other electronics markets.
Bargaining power of buyers: Buyers have moderate to high bargaining power due to availability of several suppliers and substitutes and low switching costs in the market.
Bargaining power of suppliers: Key suppliers include electronics component manufacturers who have moderate to high bargaining power due to their technical expertise and scale of operations.
Threat of new substitutes: Threat of substitutes is moderate to high as alternatives like micro:bit, BBC micro:bit are available at competitive prices. In addition, makers can design their own boards.
Competitive rivalry: The market has medium to high competitive rivalry among existing players due to standardized product and increased price wars.
Key Takeaways:
The global Arduino compatible market is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing adoption in IoT and maker technologies. The market size is expected to reach US$ 2 Bn by 2030 from US$ 1.35 Bn in 2023.
North America dominates the Arduino compatible market currently holding over 35% share due to strong presence of makers community and technology companies in the region. Asia Pacific is expected to be the fastest growing market for Arduino compatible components during the forecast period supported by emerging makers community in China, India and other developing countries.
Key players operating in the Arduino compatible market include Arduino, Adafruit, SparkFun, Seeed Studio, NXP Semiconductors, STMicroelectronics, and Texas Instruments. Arduino holds the highest market share currently due to wide ecosystem of products. SparkFun focuses on educational products and Adafruit provides wide variety of components and tutorials.
*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.
