by The Arduino compatible market comprises microcontrollers, circuits, software, and kits used to build electronic projects and interactive objects. The Arduino development platform allows users to program and build prototypes with a variety of hardware add-ons like sensors, LCD screens, motors, and more. Its open-source and user-friendly nature has made it a popular tool for engineering and programming education as well as maker communities.
The Global Arduino Compatible Market is estimated to be valued at US$ 1.56 Mn in 2024 and is expected to exhibit a CAGR of 3.3% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Arduino compatible market are Graincorp, Rahr Corporation, Soufflet Group, Malt Products Corporation, Barmalt, Muntons plc, Viking Malt PureMalt, Imperial Malt Ltd, Malteurope, BOORTMALT, Maltexco S.A., Holland Malt, IREKS GmbH, and Simpsons Malt. The growing popularity of do-it-yourself and maker cultures is creating demand for Arduino compatible products among hobbyists and independent engineers. The growing emphasis on STEM education as well as falling prices of electronic components is also fueling market opportunities. Major manufacturers are expanding their global footprint by investing in emerging markets of Asia Pacific and Middle East & Africa to tap the potential of untapped markets.
Market drivers
The rising interest among students and enthusiasts in learning programming and designing interactive electronic devices is a key driver for the Arduino Compatible Market Size. Arduino boards provide an affordable, low-risk entry point for developers of all skill levels. They allow users to quickly create prototypes and develop proof-of-concept models without investing heavily in development tools and infrastructure. This has boosted Arduino’s popularity significantly as an educational and experimental platform.
PEST Analysis
Political: The industry is positively impacted by the government initiatives to promote the Internet of Things (IoT) and automation across verticals. However, safety regulations around data security and privacy put additional compliance requirements.
Economic: The global economy recovery post-Covid is supporting greater investments in automation and IoT projects. However, rising component costs and supply chain constraints impact the raw material prices.
Social: Growing interest of developers and makers in Do-It-Yourself (DIY) electronics projects fosters demand. However, technology skills gap limits the addressable market size.
Technological: Advancements in microcontrollers, connectivity standards like Bluetooth and WiFi expand the application potential. Open-source Arduino platform encourages collaborations and new product innovations. However, entry of localized Chinese competitors increases price pressures.
In terms of value, North America accounts for the largest share in the Arduino Compatible Market, driven by higher technology adoption rates and investments in innovation. Europe follows North America in market size owing to growing industrial automation demand across industries like manufacturing, automotive, etc. Access to venture funding and presence of technology pioneers aid growth.
The Asia Pacific region, especially China, is projected to witness the fastest growth during the forecast period. This can be attributed to rising electronics exports, favorable policies promoting IoT and rapid infrastructure development. Proliferation of local suppliers providing low-cost alternatives increases accessibility in emerging economies.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
