The modern semiconductor industry began in 1947 with the invention of the point-contact transistor at Bell Laboratories. In the 75 years since then, the semiconductor industry has become one of the most important business sectors in the world economy. It contributes to every major industry, from electronic devices to appliances.
Today, semiconductor companies are producing more chips than ever — and the demand continues to expand every year. According to the Semiconductor Industry Association (SIA)/Oxford Economics report, “The strong demand for all types of chips facilitates the need for a broader domestic support ecosystem, including manufacturing equipment, materials, design services, testing labs, and R&D activity.”