What is the destiny of the semiconductor industry?

Moore's Law continues to drive an inexorable increase in the number of transistors that can be integrated onto a single die. Chip architects continue to find ways to use all of these transistors to produce even more complex designs. At the same time, competitive pressures are dictating shorter design cycles and faster time to market, while design team size has reached (and perhaps exceeded) the limit beyond which further growth is impracticable. Where are we heading?