The global Arduino Compatible Market Growth Accelerated by Widespread Adoption of IoT
Arduino compatible boards are popular open-source microcontroller boards used in electronics projects, communication prototypes, and product developments. Arduino provides a standardized design for microcontroller-based boards, making it easy for intermediate users to understand and develop their IoT and embedded system projects. The wide range of easily customizable sensors and extensions available for Arduino add to its applicability.
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 key trends:
The widespread adoption of IoT devices and applications has accelerated the growth of the Arduino compatible market. IoT penetration has increased significantly across various industries like industrial automation, transportation, healthcare, and more over the past few years. Arduino compatible boards have emerged as a popular and cost-effective platform for IoT development due to their open-source availability and ease of use. Major IoT companies are utilizing Arduino boards in PoC development and hardware prototyping of their IoT solutions. Furthermore, the availability of extensive online support from developer communities and educational resources has boosted the Arduino compatible boards’ popularity among IoT startups and hobbyists. This growing IoT ecosystem is expected to drive further demand for Arduino compatible boards over the forecast period.
Segment Analysis
The global Arduino compatible market is segmented into Kits and Modules. The Kits segment dominates the market and accounts for around 60% share as Kits provide cost-effective and easy to use solution for beginners and professional makers to start with embedded system designing. They come with a preprogrammed microcontroller, sensors and other components which helps users to build electronics projects without requiring to buy individual components separately.
Key Takeaways
The Global Arduino Compatible Market Size is expected to witness high growth. 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.
The North American region currently dominates the global Arduino compatible market with over 35% share owing to strong presence of electronics hobbyists and makers community in the US and Canada. Countries in Europe and Asia-Pacific regions are also emerging as high potential markets.
Key players operating in the Arduino compatible market are Arduino, STMicroelectronics, Adafruit Industries, SparkFun Electronics, NXP Semiconductors, Silicon Labs, Microchip Technology, Digilent, Adafruit, Seeed Studio. The market is highly fragmented in nature with presence of many local players offering low-cost Arduino clone boards. Major companies are focusing on expanding their product portfolio and geographical presence through strategic partnerships and collaborations.
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https://www.dailyprbulletin.com/arduino-compatible-market-insights/
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