Market Intelligence
Semiconductors Greece

Greece Semiconductor Industry


The global semiconductor chip sector is a pivotal force in driving digital transformation worldwide. The pandemic-induced supply chain disruptions highlighted the vulnerabilities in relying heavily on foreign markets, particularly since advanced technology chips are predominantly manufactured in Taiwan and Korea. In response, both the United States and Europe have enacted legislation to bolster domestic production and reduce dependency on external sources.

In July 2022, the U.S. Congress passed the CHIPS Act to strengthen domestic semiconductor manufacturing, design, and research and to reinforce America’s chip supply chains. The CHIPS and Science Act, signed into law by President Joe Biden on August 9, 2022, aimed at bolstering the United States’ semiconductor industry. This act is a response to the global chip shortage impacting industries including automotive, consumer electronics, and defense. The key objective of the CHIPS Act is to increase domestic semiconductor manufacturing by providing $52.7 billion in subsidies for semiconductor research, development, manufacturing, and workforce development. Of this, $39 billion is allocated specifically for manufacturing incentives, including $2 billion for the legacy chips used in automobiles and defense systems.

In September 2023 the European Union passed its own legislation, the EU Chips Act, aiming to significantly enhance Europe’s semiconductor capabilities and secure its supply chain. The legislation is a response to global semiconductor shortages and Europe’s reliance on a few foreign suppliers, particularly from Asia and the US. The Act seeks to mobilize more than €43 billion in public and private investments to strengthen Europe’s technological leadership in semiconductors and achieve a 20% global market share by 2030 (up from the current 10%). The largest volume of the EU Chips Act investments (around €32 billion euro) will go towards attracting investments from multinational companies such as Intel, Global Foundries, TSMC, ST Microelectronics.

Greece’s microcircuit industry, though small and primarily focused on chip design, boasts significant growth potential. The EU Chips Act presents a strategic opportunity to solidify Greece’s position as a global microcircuit design hub, capitalizing on its highly skilled engineering talent and government backing. However, to fully realize this potential, the industry must address its limited domestic market and the absence of domestic chip manufacturing capabilities.

Current Situation
The Greek semiconductor industry is experiencing a surge, boasting a dynamic ecosystem of over 25 companies. This includes subsidiaries of industry giants like Applied Materials, Ansys, Intel, and Renesas, contributing a combined workforce of roughly 1,500 highly skilled professionals. Notably, around one-quarter focuses on critical R&D activities. Recent years have witnessed significant growth through strategic mergers and acquisitions (M&A). Acquisitions like Helic by Ansys (2019) and Think Silicon by Applied Materials (2020) exemplify this trend. The core strength lies in chip design, with specialized expertise in niche areas like RFICs, mm-wave IC blocks, ultra-low power GPUs, video IP, MEMS sensors (electro/optical, biosensors), and sensory interfaces. However, the ecosystem extends beyond chip design, encompassing a broader network of value-adding microelectronics and software companies. This comprehensive ecosystem fosters innovation from chips to applications across diverse sectors. 

Greece’s expanding domestic high-tech ecosystem depends on its ability to attract and retain a skilled workforce for its increasing high-tech companies. The country displays a significant competitive advantage in its well-educated talent pool, with a strong presence of professionals experienced in the design and creation of cutting-edge integrated circuits and microsensors. This expertise is crucial for developing next-generation technologies with applications in areas like artificial intelligence, autonomous vehicles, and the Internet of Things (IoT). To keep pace with the anticipated exponential growth of the domestic chip industry, estimates suggest a need for over 500 additional specialized scientists within the next five years. These in-demand specialists will likely possess advanced degrees in fields like microelectronics, nanotechnology, and computer engineering.

Semiconductor Development Strategy
To enhance Greece’s attractiveness for substantial investments in the semiconductor industry and chip production, further maturation and expansion of the local ecosystem is essential. Greece has the potential to become a major player in the microelectronics industry by 2033, driven by rising global chip demand and strong government support. Experts predict that the number of microchip and semiconductor companies in Greece will double by 2033, fueled by both public and private investments. 

The Hellenic Emerging Technologies Industry Association emphasizes the strategic importance of Greece developing capabilities in prototype chip manufacturing and testing infrastructure. Building a complete microcircuits ecosystem will foster essential skills that are currently lacking. Fueled by recent digital advancements, Greece shows promise in establishing a new semiconductor supply chain. The government’s plans for a technology hub in Athens, focused on microelectronics and chips, further solidify this commitment. 

Additionally, initiatives supporting startups and entrepreneurs in this field, including funding and mentorship programs, provide a nurturing environment for innovation. This long-term plan, involving all stakeholders, leverages Greece’s strengths in universities and its emerging tech sector. The Ministry of Digital Governance highlights utilizing national and European resources, along with funding from the EU Chips Act, to bolster capacity building in the coming years.

The Ministry of Digital Governance
Hellenic Emerging Technologies Industry Association – HETiA: 
The Federation of Hellenic ICT Enterprises (SEPE) at 

To learn more please contact Industry Specialist Nikos Papachryssanthopoulos at