RISC-V Tech Market Size (2024 - 2029)

RISC-V Tech Market Analysis

The RISC-V Tech Market size is estimated at USD 1.02 billion in 2024, and is expected to reach USD 5.08 billion by 2029, at a CAGR of 37.85% during the forecast period (2024-2029).

RISC-V, an open-source instruction set architecture (ISA), facilitates the development of custom processors tailored for various applications, ranging from embedded systems to supercomputers. Originating from the University of California, Berkeley, the RISC-V ISA represents the fifth evolution of processors rooted in the reduced instruction set computer (RISC) paradigm. Its inherent openness and notable technical advantages have significantly propelled its popularity in the market.

• The distinctive open-source architecture of RISC-V technology, which permits inexpensive customization and scalability across a range of industries, from artificial intelligence (AI) to the automotive sector, is driving the market's rapid growth on a global scale. Because of the significant investment and support this architecture has received from influential tech companies, RISC-V has established itself as a significant contender in the processor market.
• RISC-V's modular design has proven optimal for new tech applications that need specialization, including edge computing, machine learning, and the Internet of Things. Recent advancements in AI emphasize this trend. RISC-V cores from Andes Technology are used by Meta's AI-focused processor, MTIIA, which is designed for training big models. Because of its versatility, RISC-V is a powerful force in artificial intelligence (AI), where quick customization is necessary to satisfy a range of computational demands.
• RISC-V's transparency and adaptability have led governments and businesses to adopt it as part of the worldwide trend toward technological independence. This change is highlighted by Google's choice to incorporate RISC-V into Android, which lessens reliance on proprietary ISAs while enabling increased interoperability with new devices. The support of RISC-V from other industry titans like NVIDIA and Western Digital indicates industry confidence and implies that RISC-V will gain a larger portion of the semiconductor market.
• Furthermore, the market is experiencing heightened vendor activities, including new product launches, mergers and acquisitions, and strategic alliances, all contributing to market growth. For example, in March 2024, Tenstorrent forged a strategic alliance with MosChip Technologies, focusing on the design of Tenstorrent's advanced RISC-V solutions. This collaboration aims to bolster Tenstorrent's market position with its enhanced RISC-V offerings.
• RISC-V's open-source nature enables innovation but also brings standardization challenges. The absence of clear standards for implementations, tools, and extensions can lead to compatibility issues, threatening interoperability and slowing down widespread adoption. Implementing RISC-V technology poses challenges. While the RISC-V instruction set architecture (ISA) is open and flexible, practical implementation demands substantial investment and technical expertise.
• Post-pandemic, RISC-V technology saw a surge in demand, delivering substantial advantages for applications and consumers. This increase in demand highlights the growing recognition of RISC-V's benefits in enhancing operational efficiency and consumer satisfaction.
• For instance, in April 2024, Imagination Technologies announced the introduction of a new RISC-V applications processor, Intellectual Property (IP), the Imagination APXM-6200 CPU. The focus is on power density, commonly called the efficiency core. Target markets for the CPU include consumer and industrial devices, and eventually, an automotive version will also be included. The new processor is part of the Catapult CPU portfolio of IP processors.

RISC-V Tech Industry Segmentation

RISC-V is a type of computer design that can be customized for different uses, from small devices to large computers. It delivers low power usage and high performance across consumer and other electronic devices. The RISC-V Tech Market is defined by the revenue generated by selling RISC-V architecture-based products offered by market vendors designed to be adopted by end-user industries worldwide. 

The RISC-V Tech market is segmented by application (smartphones, 5G devices, data centers, personal computer and game consoles, cellular network devices, IoT devices, and other applications), by end-user industry (computing and storage, communication infrastructure, consumer electronics, automotive & transportation, medical, aerospace & military, industrial, and other end-user industries), and by geography (North America, Europe, Asia Pacific, Latin America, Middle East & Africa). The report offers market forecasts and size in value (USD) for all the above segments.