The semiconductor crisis lacks a quick fix, as it takes time and large capital expenditures to build new production capacity, something manufacturers cannot do overnight.
That is why governments in different countries are starting to invest heavily to speed up the process and, in turn, improve their position in an industry that is very important for the future of the economy.
The example is clearest in the major powers such as the United States, China, South Korea, Japan or Taiwan, but other regions where the industry is a minority, such as Europe, are also trying to expand local production capacity by investing in the chip industry.
The European Union is light years ahead in developing its own semiconductor industry, but the Commission wants to boost the development of new production capacity in certain key areas, such as supercomputing, chips for the automotive industry, which is very important in Europe, and other emerging technologies.
The SIA highlights the current stimulus plans, which will provide €35 billion for the development of European chip manufacturing capacity. And the so-called “digital compass 2030” initiative, which aims for Europe to increase its share of global chip manufacturing from 10% today to 20% by 2030, a very ambitious target.
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