Chapter 2 offers a comprehensive overview of the evolution and regional configuration of the global semiconductor industry. It charts the transition from vertically integrated systems, historically led by the United States, to today’s globally fragmented yet interconnected value chains. The chapter compares the industrial roles, technological capabilities, and policy approaches of key regions—namely the United States, Europe, Japan, South Korea, and Chinese Taiwan—while also highlighting the emerging roles of India and Southeast Asia within the global supply network. It further explores contemporary challenges, such as the deceleration of Moore’s Law and the growing demand for AI-driven applications, which are accelerating the shift towards advanced packaging, heterogeneous integration, and system-level innovation. The chapter concludes by identifying critical future trends, including technological diversification, market restructuring, and increasing regional competition.