Czech Republic Information Technology Q1 2021
The IT market in the Czech Republic is forecast to return to growth in 2021 when the deployment of a vaccine will heraldthe end of the acute phase of the Covid-19 pandemic, which will allow IT vendors to capitalise on a rebound in business investmentas sentiment recovers. The medium-term outlook is also positive due to digital transformation and cloud migration momentum inthe private and public sector that will see software and services demand growth remain strong. Uncertainty continues to be factor inthe short term, with the highest impact downside risk existing in the potential for the soft lockdown introduced in October 2020 tobe extended and/or tightened during winter 2020 and into 2021. There could also be lingering effects from the pandemic, evenonce the acute public health crisis has eased, such as the persistence of a more cautious climate for investment and consumption.
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