The 2022 SIA Factbook highlights the importance of the US semiconductor industry, which drives economic growth and innovation. Despite US companies leading the global market, the industry faces challenges, including a decline in domestic manufacturing capacity and competition from other countries. To address these challenges, the report recommends strengthening the technology workforce, reforming immigration policies to attract and retain top talent, promoting free trade and protecting intellectual property, and increasing federal investments in chip research. The report emphasizes the critical role of the semiconductor industry in enabling modern systems and products, and calls for policymakers to take action to boost growth and innovation.
