The European Commission (EC) wants Europe to become a leader in the field of semiconductor and component production in the coming years.
The EC said the region should aim to capture 60 percent of the market within ten years, after a report was published by 11 CEOs of companies from the Electronics Leaders Group (ELG), which was set up last year.
These firms include ARM, NXP Semiconductors and Intel Ireland, and in the report to the EC they outlined several areas where growth could be made, including the automotive, energy, industrial automation and security sectors.
The wider Internet of Things (IoT) trend that will see sensors fitted to all types of infrastructure and items is also an area that could be ripe for major growth, it said.
To capitalise on this the group proposed setting up a new initiative called Smart Everything Everywhere, which would include the creation of centres of excellence to boost semiconductor skills and production.
"They [the centres] will cover skills extending from chip design to embedded software and cyber physical systems and offer a one-stop shop for low-tech or non ICT industries wishing to embrace the opportunities that IoT provides," it said.
The ELG also said that given the existing material, equipment and components industries in Europe, the region should be able to boost production capacity by 70,000 wafer starts a month by 2016.
It will now work to form a more concrete set of goals about how these plans can be turned into reality. It said that, while ambitious, it was confident the EC's targets can be met.
“An ambitious plan has been set out for a fast-moving industry that is the driver of a significant part of Europe’s industrially generated wealth,” he said.
“With a clear ambition, the collaboration, focus and rate of progress will turn from a declining share to an improving and greater share.”
EC Digital Agenda commissioner Neelie Kroes said Europe must heed the advice given in order to become a leader in this important part of the tech sector.
"I want us in the driver’s seat. The sector wants to be back in the driver’s seat,” she said. “So my message is this: we are going to make Europe the place to make and buy innovative micro and nano-electronics.”
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