EU Chips Act could double Europe's semiconductor market share by 2030
To combat the ongoing global flake shortage, the European Commission recently proposed the European Fries Act. The proposal calls for a multifaceted program to research and produce semiconductors in Europe. The European Chips Act includes the Chips for Europe Initiative, which will make €11 billion available for enquiry and development related to semiconductors.
"Semiconductor chips are the essential edifice blocks of digital and digitised products. From smartphones and cars, through critical applications and infrastructures for healthcare, energy, mobility, communications and industrial automation, chips are central to the mod digital economic system," reads the introduction of the Chips Human activity (via Politico). The certificate adds that "put simply, at that place is no "digital" without chips."
In addition to being used in the best graphics cards, semiconductors are used in smartphones, cars, and in manufacturing. Due to supply shortages and other factors, companies cannot meet the global need for chips.
If approved, the European Fries Act will have more than €43 billion in identify to react to changes in semiconductor supply chains. The European Commission states that the Chips Act will let the EU to reach its goal of doubling its market share to 20% by 2030.
The U.Southward. Senate recently passed a similar piece of legislation. That bill allocates $250 billion to technological advancement, $52 billion of which is to fund semiconductors.
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Source: https://www.windowscentral.com/eu-chips-act-could-double-europes-semiconductor-market-share-2030
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