RISC-V Tech Market Size Worth USD 17.40 Billion by 2034 | CAGR: 29.2%

The RISC-V Tech Market size is expected to reach USD 17.40 Billion by 2034, according to a new study by Polaris Market Research. The report “RISC-V Tech Market Share, Size, Trends, Industry Analysis Report: By Product Type (Microcontroller (MCU), Microprocessor (MPU), System-on-Chip (SoC)), By Application, By End User, and By Region; Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The RISC-V technology market is expanding as chipmakers, system developers and device manufacturers are adopting open-source processor architectures for performance efficiency, design flexibility and cost control. The rise of AI workloads, embedded computing and domain-specific hardware is strengthening the demand for customizable processor IP. Many industries are actively shifting toward license-free silicon solutions to reduce development costs, enable architectural innovation and speed up time-to-market.

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Market growth is driven by increased semiconductor design activities, rising adoption of edge devices and government-backed investments in processor independence. The adoption of RISC-V-based processors in data centers, automotive electronics, consumer devices and industrial applications is driving the demand for the market. Moreover, companies are integrating AI support, real-time processing capabilities and modular core designs to meet evolving computing needs across varied sectors.

Top of FormRISC-V Tech Market Report Highlights

• Based on product type, the system-on-chip (SoC) market is expected to experience strong growth during the forecast period, driven by increasing demand for highly integrated semiconductor solutions that combine processing capabilities, memory, and connectivity functions on a single chip.
• In terms of application, the IoT devices segment held the dominant market position in 2024, owing to the specific requirements for energy-efficient, scalable, and application-optimized processors in IoT implementations.
• Asia Pacific's RISC-V technology industry captured the largest global market share in 2024, supported by the region's established semiconductor manufacturing infrastructure and strategic initiatives to develop independent processor technologies.
• North American RISC-V technology sector is anticipated to achieve substantial market penetration by 2034, benefiting from the region's robust innovation environment and government-backed programs supporting alternative processor architectures.
• A few global key market players include SiFive, Inc., Codasip, Andes Technology Corporation, Ventana Micro Systems Inc., Imagination Technologies, Microchip Technology Inc., GreenWaves Technologies, Bluespec, Inc., GigaDevice, Syntacore, Synopsys, Inc., Intel Corporation, Qualcomm Incorporated, RiVAI Technologies, and Alibaba Group Holdings Ltd.

Polaris Market Research has segmented the market report on the basis of product type, application, end user, offering, and region:

By Product Type Outlook (Revenue, USD Billion, 2020–2034)

• Microcontroller (MCU)
• Microprocessor (MPU)
• System-on-Chip (SoC)
• Application-Specific Integrated Circuit (ASIC)
• Other Product Type

By Application Outlook (Revenue, USD Billion, 2020–2034)

• Smartphones
• 5G Devices
• Data Centers
• Personal Computer and Gaming Consoles
• Cellular Network Devices
• IoT Devices
• Other Application

By End User Outlook (Revenue, USD Billion, 2020–2034)

• Consumer Electronics
• Automotive and Transportation
• Computing and Storage
• Communication Infrastructure
• Healthcare
• Aerospace and Defense
• Industrial 
• Other End User Industries

By Regional Outlook (Revenue, USD Billion, 2020–2034)

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Vietnam
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America