The global wafer foundry industry is highly concentrated with the top-five players taking up about 76% of the total shipments. The increasing share of orders released by IDMs and the proliferation of emerging application ICs such as CPUs, GPUs, FPGAs, and ASICs have been major growth factors to drive the industry’s growth over the years. In addition, the rise of automotive electronics, IoT, and 5G applications have also boosted the demand for fingerprint sensor ICs, driver ICs, GPS ICs, and RF ICs. Hence, the market is expected to continue the steady growth this year. This report reviews the industry’s development in 2017 and provides a future outlook for 2018 and beyond. Also included are development highlights of major players: TSMC, GlobalFoundries, UMC, Samsung, and SMIC.