Graphene, a single layer of carbon atoms, is known for its exceptional electrical, optical, and mechanical properties. However, its lack of a natural bandgap and conductivity control issues limit its use in semiconductor applications. This review explores advancements in bandgap engineering and conductivity management of graphene-based semiconductors, including chemical functionalization, structural modifications, and hybrid materials integration. Strategies for manipulating graphene's conductivity, such as doping, defect engineering, and external field modulation, are also discussed. These innovations are crucial for developing high-performance graphene-based electronic and optoelectronic devices, paving the way for eco-friendly technologies.