The market for digital/mixed-signal (D/MS) is on track to represent the largest segment of the semiconductor industry, outpacing distinct digital and analog segments. D/MS ICs typically combine multiple-million gates of digital logic with high-performance analog/mixed-signal content. Often, D/MS ICs are system-on-a-chip (SoC) devices that contain one or more processors and memory along with application-specific logic. Recognizing D/MS as an IC category is key to understanding and distinguishing its unique impact on design, manufacturing, and semiconductor business models. This paper describes the rise of D/MS ICs, their numerous applications in communications and consumer markets, and their unique design requirements.