Arduino Compatible Market Remarking Enormous Growth with Current Trends & Demands Through 2023 - 2030
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| Arduino Compatible Market |
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:
The Arduino compatible products refer to open-source hardware and software microcontrollers that provide easy-to-use tools for building sensors, actuators as well as other interactive objects. Arduino compatible boards are designed around 8-bit Atmel AVR or 32-bit ARM microcontrollers. They provide standard functions like PWM, analog inputs, and I2C/SPI communication over several pins. These capabilities make them ideal for interactive objects like toys, small robotics projects, and more.
Market key trends:
One of the key trends spurring growth of the Arduino compatible market is proliferation of IoT applications. Arduino compatible microcontrollers provide an affordable and accessible platform for prototyping and developing IoT devices. Their wide community support aids faster development of connected devices for applications across industries such as industrial automation, home automation, medical devices, smart agriculture, etc. Further, emergence of open-source hardware kits comprising Arduino compatible microcontrollers is making embedded development more approachable and collaborative. This is expected to scale up innovation around IoT.
Segment Analysis:
The Arduino compatible market is segmented by components, connectivity, and end-user applications. The processors sub-segment dominates the component segment owing to the growing adoption of microcontrollers in Arduino boards. Processors are the fundamental component that enables computational and control capabilities in Arduino boards.
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 of IoT technologies. Arduino boards provide an open-source platform for IoT product development at low costs.
North America holds the major share of the global Arduino compatible market, followed by Europe. The US and major European countries showcase high adoption rates of IoT applications across automation, healthcare, and industrial sectors, which drives the demand for Arduino boards in these regions.
Key players operating in the Arduino compatible market are 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 accounts for the largest revenue share due to their wide product portfolio and distribution channels.
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