Global chip maker Intel on Monday said it could take a couple of years to address the supply shortage in the semiconductor ecosystem that is witnessing huge demand for tech products, accelerated by the COVID pandemic.

Intel CEO Pat Gelsinger noted that the work and study-from-home trends during the COVID-19 pandemic have led to a "cycle of explosive growth in semiconductors" that has placed huge strain on global supply chains around the world.

"We have been working diligently with our partners... to address constraints and increase output to meet demand, and we are acting to help ensure capacity to meet the world's needs for this new era... But, while the industry has taken steps to address near-term constraints, it could still take a couple of years for the ecosystem to address shortages of foundry capacity, substrates and components," he said at a virtual session at the Computex event.

He stated that the company has doubled its internal wafer capacity in the past four years, and that it is driving a collaborative approach to help the supply chain.

Semiconductors play a crucial role in everything, right from computers to appliances, communication devices, transportation systems to critical infrastructure.

"We've already announced more than $20 billion of new investment in our foundry capability. This includes large scale capacity expansion in Arizona, in support for advanced semiconductor manufacturing technologies in New Mexico. We plan to expand to other locations in the US and Europe, ensuring a sustainable and secure semiconductor supply chain for the world," Gelsinger said.

Intel Corporate Vice President and General Manager CCG Sales Steve Long announced the launch of two new 11th generation Intel core SKUs that will help the company deliver performance and extend its leadership in the thin and light notebook category.

The company is also launching the Intel 5G solution 5000, its first 5G product for the next-generation of PC experiences.

"This is Intel's first 5G product coming out from our previously announced collaboration with MediaTek with global certification. Acer, Asus and HP are expected to bring these 5G-enabled PCs to market this year and the momentum continues in 2022, with over 29 designs expected," Long said.