Once upon a time, in the 1970s, a leading electronics company that was not a semiconductor company spent a large amount of money to become the world leader in IC process capabilities.
This company developed its own internal semiconductor capabilities so that it could make ICs for its own competitive needs. The company was Tektronix, and the decision maker behind the venture was engineering vice president Bill Walker. The Tek "super high frequency" process produced BJTs with the highest fT anywhere on the planet.
Characteristic of Tek culture was the willingness to explore new frontiers, to take risks and seek new ideas. As a consequence, Tek ended up with the leading BJT process, and it was devoted to making (mostly) fast ICs for oscilloscope vertical amplifiers. Over time, however, the overhead of maintaining the leading processes only for the 'scope market could not be justified, and a joint venture with Maxim resulted. (Maxim is the sponsor of Integration Nation on Planet Analog.)
In reflecting upon this thread of history, there might be an answer to the question of where semiconductor companies can go from here. As it is, these companies function in a supporting role in the electronics industry, making parts that others use to make end products. As a consequence, their success depends on the success of those who can use their parts. Semiconductor companies therefore have an interest in how their parts are used, and to some extent encourage other companies in industries with technology that could most benefit from ICs to engage in the joint venture of ASICs.
Now consider a viewpoint on semiconductor companies, starting with something like the Tektronix scenario. Tek essentially started an internal IC company because it already was a company that could use the parts. Turning that around, what if semiconductor companies would create Tektronix-like companies by identifying how ICs might best be used where they currently are not?
In other words, having the IC capability, a semiconductor company is enabled to consider IC-oriented technology it could develop to give spin-off ventures the needed advantages to successfully address their own markets. The original semiconductor company becomes a hub around which various IC-depending ventures proceed. Instead of waiting for someone else to find IC applications, semiconductor companies take the initiative of applying IC technology where it has new advantages, through spin-off ventures.