The EU should take a "reality check" on a microchip strategy setting targets of 20% global market share by 2030, which it is unlikely to meet despite investment in the sector, according to a report published by the European Court of Auditors (ECA) on Monday.
The report acknowledged that the EU Chips Act – which entered into force in 2023 and came as a response to the global supply chain disruptions caused by the COVID-19 pandemic – has brought new momentum to the bloc’s microchip sector, but found investments driven by the Act are “unlikely to significantly enhance” the EU’s position in the field.
