Posted On: 2022-03-08
Network and communications segment acquired the largest market revenue share in the Czech Republic Semiconductor market in year 2021 – 6Wresearch
Semiconductor market in Czech Republic grew substantially from 2018 to 2019 as a vast range of essential products, life-saving equipment, and critical infrastructure rely on semiconductors for display, wireless networking, computing, storage, power management, and other essential functions. Healthcare and medical equipment, telecommunications, energy, finance, transportation, agriculture, manufacturing, aerospace, and defence all are examples. Semiconductors also support the IT systems that have enabled remote work and education, as well as access to critical services in every domain, including medicine, banking, education, government, food distribution, and others. Therefore, the demand for semiconductor in Czech Republic picked up pace in the last quarter of 2020 and expected to increase in the forecast period. In year 2020, due to COVID-19 lockdowns and restriction resulted in a slowdown in the semiconductor market due to supply chain disruption as Czech Republic is highly dependent on import for raw materials such as silicon and germanium.
According to 6Wresearch, Czech Republic Semiconductor Market revenue size is projected to grow at a CAGR of 7.4% during 2022-2028. The Czech Republic semiconductor market is poised for growth in the coming years as the semiconductors are an essential component of electronic devices, enabling advances in communications, computing, healthcare, military systems, transportation, clean energy, automotive, consumer electronics and smart building infrastructure and countless other applications that would increase the demand for semiconductor.
According to Rishabh Singh Bhandari, Research Analyst, 6Wresearch,
“Networking and communications segment acquired highest share in the Czech Republic Semiconductor market in 2021 in terms of revenue on account of rise in penetration of internet in the country along with increase in number of smartphone user. Additionally, increase of remote working and cloud computing positively impacted the network and communication segment. Furthermore, introduction of 5G technology further augment the demand for networking and communication device in the country.”
“Memory devices acquired highest share in the Czech Republic Semiconductor market in 2021 in terms of revenue as high average selling price of the NAND flash chips and DRAM would contribute significantly to revenue generation. Memory devices holds a key to artificial intelligence and gradual upliftment of AI technology the demand for memory devices would propel in the forecast period.” He further added.
Some of the major companies in Czech Republic Semiconductor market include ON Semiconductor, NXP Semiconductors N.V., STMicroelectronics International NV, Siemens AG, Honeywell International Inc., ABB Limited, Robert Bosch GmbH, Broadcom Inc., Samsung Electronics Co. Ltd.
“Czech Republic Semiconductor market report (2022-2028)” report provides an in-depth analysis with 32 figures and 2 tables, covered in 82 pages. The report estimates and forecast the overall Czech Republic Semiconductor market by components and applications. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.