by The global Arduino Compatible Market is estimated to be valued at US$ 1.35 billion in 2023 and is expected to exhibit a CAGR of 12.2% over the forecast period 2023 – 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Arduino compatible boards are open-source hardware boards used for building digital devices and interactive objects that can sense and control physical devices. The boards are built on a simple input/output concept that wires an assortment of sensors and actuators to a microcontroller. This allows users across various application areas such as engineering, product design, and interactive art to develop smart prototypes at a low cost without extensive training. Widespread availability of inexpensive sensors and ease of programming microcontrollers using Arduino IDE have popularized the Arduino platform for fast prototyping.
Market key trends:
One of the key trends driving growth in the Arduino compatible market is the increasing adoption of microcontroller-based Internet of Things (IoT) devices for applications such as home and factory automation. Microcontroller manufacturers are accelerating new product development and innovation to offer a wider range of Arduino compatible boards embedded with advanced wireless connectivity and enhanced processing capabilities. For instance, Microchip launched its SAM D21 Smart Embedded Control solution in 2020, which provides the functionality of Arduino Uno onboard but with twice the processing power and other additional features like Wi-Fi and Bluetooth connectivity. Similarly, NXP introduced the i.MX RT1050 crossover MCU in 2019 to enable development of low-cost smart IoT nodes using the familiar Arduino IDE. Rising IoT deployment is expected to fuel demand for innovative Arduino boards with features that facilitate quicker prototyping and scaling up of smart connected products.
Porter’s Analysis
Threat of new entrants: Low barriers to entry in electronics components manufacturing allows new companies to enter easily in the Arduino compatible market.
Bargaining power of buyers: Buyers have high bargaining power due to the availability of substitute products from various manufacturers.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative suppliers in the market.
Threat of new substitutes: Products from companies like Adafruit, SparkFun, Seeed Studio pose threat of substitution.
Competitive rivalry: High competition exists among key players like Arduino, Microchip, NXP Semiconductors due to availability of similar products.
Key Takeaways
The global Arduino Compatible Market Size is expected to witness high growth, exhibiting CAGR of 12.2% over the forecast period, due to increasing adoption in IoT applications. The market was valued at US$ 1.35 billion in 2023.
Regional analysis: North America dominated the Arduino compatible market in 2023 due to rapid adoption of IoT technologies across various industries in the US. Asia Pacific is expected to exhibit the fastest growth over the forecast period with countries like China and India emerging as major markets.
Key players: Key players operating in the Arduino compatible market include 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 captured highest market share in 2023 owing to its well-known brand name and easy to use platform.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
