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Europe Makes a Move on Semiconductor Market

The EU aims to capture 20 percent of the world’s semiconductors by 2030 as Europe looks to become a tech power to rival the US and China, officials said Tuesday.

Under a new roadmap, the European Commission also wants the EU to develop its first quantum computer before the end of the decade in order to be ready for a new era in fast computing.

A key component in everyday products such as cars and mobile phones, semiconductors are currently in short supply worldwide and Europe is dependent on Chinese and American imports in a market estimated at 440 billion euros ($523 billion).

Shortages, caused by changes in supply chains because of the coronavirus pandemic, have forced some major manufacturers to suspend production lines.

“We were one of the first to pull the alarm last year,” EU Internal Market Commissioner Thierry Breton told reporters, calling for the continent to double production this decade.

The plan, which translates the bloc’s digital priorities into concrete targets, also calls for a better-trained workforce, improved infrastructure and a transformation of public services.

The EU will also push member states to have 20 million IT specialists by the end of the decade, compared with 7.8 million in 2019.

At least 80 percent of the adult population will also need basic digital skills to compete in a highly digitalised world.

S. Jack Heffernan Ph.Dhttps://www.knightsbridgelaw.com
S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.

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