section_path: Industry
section_name: Industry
paragraph_text: Industry
  
  The electronics industry consists of various sectors. The central driving force behind the entire electronics industry is the semiconductor industry sector, which has annual sales of over $481 billion as of 2018. The largest industry sector is e-commerce, which generated over $29 trillion in 2017. The most widely manufactured electronic device is the metal-oxide-semiconductor field-effect transistor (MOSFET), with an estimated 13 sextillion MOSFETs having been manufactured between 1960 and 2018. In the 1960s, U.S. manufacturers were unable to compete with Japanese companies such as Sony and Hitachi who could produce high-quality goods at lower prices. By the 1980s, however, U.S. manufacturers became the world leaders in semiconductor development and assembly.
  
  However, during the 1990s and subsequently, the industry shifted overwhelmingly to East Asia (a process begun with the initial movement of microchip mass-production there in the 1970s), as plentiful, cheap labor, and increasing technological sophistication, became widely available there.
  
  Over three decades, the United States' global share of semiconductor manufacturing capacity fell, from 37% in 1990, to 12% in 2022. America's pre-eminent semiconductor manufacturer, Intel Corporation, fell far behind its subcontractor Taiwan Semiconductor Manufacturing Company (TSMC) in manufacturing technology.
  
  By that time, Taiwan had become the world's leading source of advanced semiconductors —followed by South Korea, the United States, Japan, Singapore, and China.
  
  Important semiconductor industry facilities (which often are subsidiaries of a leading producer based elsewhere) also exist in Europe (notably the Netherlands), Southeast Asia, South America, and Israel.