Cloud computing refers to the model or network where a program or applications run which can be accessed by many devices or servers at a time. Cloud computing technology is a shift in the tradition of computing, which has given newer and faster methods to provide computing solutions, infrastructure solutions and application layers. The report focuses on the emerging cloud computing technology and its application. It also gives a comparative analysis of the cloud computing technology with the conventional technology and describes how the cloud computing technology scores an upper hand than the conventional technology. The cloud computing technology comprises both hardware as well as the software through which the services are delivered. This report contains only the services category and excludes the hardware. Hence, the report focuses only on the cloud services market. There lies a great potential in the cloud computing services market due to several benefits such as access to broader network, on demand service, pay as you go benefits, resource pooling, business agility, rapid elasticity, cost cutting and many more.

Connected car can be defined as a car that is equipped with a wireless local area network (Wireless LAN) and usually with internet. This connectivity allows the car to share data and internet access with any other device both outside and inside the vehicle. In addition, car is also installed with special added technology that connects to internet or wireless LAN and provides additional benefits such as navigation, vehicle diagnosis, and others to the driver. The connected cars market has witnessed significant growth over the years, owing to increase in trend of connectivity solution worldwide.

Cable & connectors is one of the key elements used by various industries to transfer data and to provide high end connectivity among the end points. In addition, rise in government initiatives to improve connectivity within the country and surge in demand for higher bandwidth network by different industries drive the growth of the market. In addition, increase in investment in defense & submarine cables by various organizations fuels the growth of the market. Furthermore, complex fault detection and removal process of errors hampers the growth of the market. Moreover, rise in data centers across the globe and surge in government initiatives to increase connectivity in rural areas of developing economies are expected to provide lucrative opportunities for the market. The key players profiled in the cable & connectors market analysis are 3M Company, Amphenol Corporation, Alcatel-Lucent (Nokia Corporation), Axon Cable S.A.S., Fujitsu Ltd., Huawei Technologies Co. Ltd., Nexans, Prysmian S.P.A., TE Connectivity Limited, and Sumitomo Electric Wiring Systems, Inc.

The market for 5G services is expected to revolutionize the domain of various broadband services and to empower connectivity across different end-user verticals. The main drivers responsible for increasing the market share are increase in mobile subscriptions, online streaming of video content, strengthening 5G infrastructure, and various IoT applications utilizing 5G. 5G is anticipated to support a wide array of services and associated service requirements across multiple scenarios. Network slicing is seen as one way to address different use cases efficiently, while improving the 5G network architecture. Mergers and acquisitions are helping to shape the industry landscape, which fuels the market demand. At the Mobile World Congress 2019 held in Shanghai, Huawei and more than 30 industry partners jointly established an industry alliance in 5G deterministic networking. The establishment is aimed at promoting consensus on industry development, ecosystem building, and developing the 5G industry.

E-waste management refers to the reuse, resale, recycle, or disposal of discarded electronic and electrical devices. Today, there is an increase in the number of electronic and electrical industries, which has led to the rise in volume of e-waste all over the world. The enhanced purchasing power of the customers as well as increased rate of obsolescence of electronic and electrical devices has been adding to e-waste in tremendous volume each year. The report focuses on the growth prospects, restraints, and market analysis. The study provides Porter’s five forces analysis of the e-waste management industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the market.

The need to reduce the costs of manufacturing and processing is expected to accelerate the market studied over the coming years. The 4D printing technology has the potential to enable reduced capital and inventories, which increases the manufacturer’s market efficiency. A 4D-printed product causes lesser manufacturing, transportation, and handling costs, which ultimately leads to saving resources and efforts. Moreover, 4D-printed objects can harness existing 3D printers, which is also one of the driving factors for the technology growth. Although the technology is still at infancy and in its R&D stage, companies are working toward developing both 4D printing technology. Specialized 4D printers as well as the materials suitable for 4D printing are, therefore, likely to shape the market studied. The concept of 4D printing first gained interest after MIT’s Self-Assembly Lab in partnership with 3D printing manufacturer Stratasys and 3D software company Autodesk, back in 2013. 4D printing, which is the next step in the evolution of 3D printing, adds the dimension of time to the traditional 3D printing process. What this means is that a 3D-printed object can change its shape after it is printed, in response to water, heat, or pressure etc.

Automated storage & retrieval systems are inventory management systems commonly used in manufacturing centers, distribution facilities, and warehouses. They consist of variety of computer-controlled systems for automatically placing and retrieving loads from one site to another. These systems are used where high volume loads are to be moved from one location to another, as they help provide quick, accurate, reliable, and low-cost solutions. Unit load automated storage retrieval systems are widely used in automotive, food & beverages, chemicals, ecommerce, semiconductors & electronics, and healthcare industries owing to accurate, safe, and stable handling of large items. The automated storage & retrieval system manufacturers aim to develop automated storage retrieval systems with maximized storage capacity, increased performance, reduced energy costs, and increased inventory accuracy and customer service. To cite an instance, Dematic Group launched mini-load AS/RS, which provides increased performance in the automated storage and handling of products in distribution centers and raw material stores, and these are specially designed for ultra-high-speed load handling.

The continuous evolution of the Internet as a platform for business and trade and the success in monetizing digital content are driving the market growth. While there has been a clear improvement among consumers, in terms of willingness to pay for premium content, supported by the rise of affordable monthly subscription-based business models, piracy and unauthorized redistribution of copyright-protected content are also witnessing growth. Several organizations across the world are focusing on rapidly expanding their presence across various social networking sites. This is further allowing companies to exhibit and sell their products online by utilizing a content marketing strategy. As a result, companies are planning to implement intellectual property (IP) rights. This is expected to drive the demand for digital rights management and licensing. The increasing usage of digital documents, such as PDFs, word documents, and emails, is assumed to stimulate the growth of the market studied.

A brain-computer interface (BCI), also known as neural-control interface (NCI), mind-machine interface (MMI), direct neural interface (DNI), or brain-machine interface (BMI), is an interactive platform or direct communication pathway between the brain and an external device.Brain imaging technologies such as Magneto encephalography (MEG), functional Magnetic Resonance (fMRI), Electrocorticography (ECOG) and Electroencephalography (EEG), are integrated with BCI systems to capture electrical signals sent by the human brain. The global BCI market is segmented across application, type and geography. Based on application, the market is segmented into communication and control, healthcare, entertainment & gaming, and smart home control applications amongst others. The ‘others’ segment comprises of neuroeconomics, market research, education, training and R&D. Based on type, the market is segmented into invasive, partially invasive and non-invasive types of BCI technology. Based on region, the overall market is segmented across North America, Asia Pacific, Europe and LAMEA (Latin America, Middle East and Africa)The report focuses on the growth prospects, restraints, and market analysis.

Facial recognition has been gaining prominence in recent times, owing to the benefits it offers over traditional surveillance techniques, like biometrics. Governments across the world have been investing significant resources in the facial recognition technology, among which, the United States and China are the leading adopters. China is one of the major consumers and exporters of the facial recognition technology, as the law and enforcement, along with various government bodies in the country, adopted surveillance technologies. Currently, the country has the largest public surveillance system. According to Comparitech, in China, the number of CCTV cameras is expected to range from 200 million to 626 million by 2020. In addition, China adopted a Social Credit system that combines facial recognition with the data of citizen and government services. The cameras adopted in the country are equipped with the facial recognition technology, primarily to enforce and maintain compliance with government regulations. Moreover, the country is home to an increasing number of enterprises that are offering and innovating technology. Other countries in the region are following suit in terms of adoption of technology as part of, both, public and private sectors. This is expected to drive the demand for technology in the Asia-Pacific region.

7 月全月大盘指数涨跌幅中，创业板指（涨幅14.7%）>沪深300 指数（12.8%）>上证指数（10.9%），通信（申万）指数上涨3.3%，弱于大市，在28 个申万一级行业指数涨跌幅中排名第27。TMT 板块7 月表现各异，通信板块涨幅靠后。

我们8 月13 日组织投资者走访了杭州直播产业链，包括电商直播平台蘑菇街、1 家服装工厂和2 个不同等级的蘑菇街主播，以更直观的了解疫情后直播电商最新情况，附文为本次走访的详细纪要。

百度发布截至2020 年6 月30 日的2020 年第二季度未经审计财报，百度第二季度营收为人民币260.3 亿元（约合36.85 亿美元），同比下降1%，环比增长15%。归属百度的净利润（GAAP）35.79 亿元人民币（约5.07 亿美元），同比增长48%；归属百度的净利润（Non-GAAP）为50.82 亿元人民币（约7.19 亿美元），同比增长40%。百度核心业务实现营收189 亿元人民币（约26.8 亿美元），同比下降3%，环比增长24%；爱奇艺实现营业收入74 亿元人民币（约10.5 亿美元），同比增长4%。

投资建议： 5G规模建设开启，云计算进入实质性落地阶段，5G应用加速发展，2020年通信板块围绕5G基建 、云计算大数据中心 、5G新应用、卫星互联网四条主线进行长期布局 。

本篇报告是中信证券研究部“瞻星”系列报告的第三篇。相比直接关联投资，卫星数据可以更好地反映基本面情况。本篇报告在前两篇的基础上，进一步探讨了卫星数据对大消费行业营收状况的跟踪有效性。从中观行业层面看，指引意义不强；从微观层面看，对于食品饮料，家电与农林牧渔等重点公司，基本面相关性长期跟踪效果有效，基本面实时跟踪指引有效性较高。

本周策略观点：1、中国广电加快5G 布局以及完善有线电视网络部署，有望带动有线广播电视以及5G 基站产业链环节的投资机会；2、20H1 全球超大规模IDC 达541 个，176 个规划建设中；当前，数据中心供需缺口逐步拉大，行业景气度将稳步持续向上。同时，光模块兼具流量高增、格局优化及硅光等新技术创新叠加，估值与业绩双击。云计算和CDN 赛道在流量加速增长下，业绩弹性更好，建议持续关注IDC、光模块、云计算、CDN 等流量基建环节的重点绩优个股。

物联网市场高度景气，带动行业增长迅速。作为新兴行业，物联网市场规模得到快速发展。（1）连接数量，根据爱立信的统计，物联网连接数将3 倍于移动互联网的增速，其中局域网链CAGR 约18%，广域网产业链（包括蜂窝和LPWA）CAGR 约26%。（2）据Gartner 预测，物联网终端市场规模将达到2.93 万亿美元，保持年均25-30%的高速增长。

7月手机出货量同比下滑，部分源于618大促后、9月新机发布前的空档期，看好下半年新机带动销量回暖：根据中国信 通院数据，7月国内手机市场总体出货量2230.1万部，环比-22.1%，同比-34.8%；Q1国内手机出货量4895.3万部，同比 -36.4%，Q2国内手机出货量10411.7万部，同比-4.6%；前7月国内手机出货量17537.1万部，同比-20.4%；我们认为， 下半年苹果及安卓新机发布、5G换机以及更中长期的宏观经济回暖有望带动手机销量回暖。

Inphi (IPHI.N)于2020 年8 月4 日发布FY20Q2 财报，财报显示第二财季营收为1.753 亿美元，同比上升103.15%;净亏损2405 万美元，同比亏损扩大16.88%。

3G向4G的转化对于传媒行业带来的是产业的升级和新需求的创造。4G时代的到来，一方面使得以手游为代表的部分行业实现了产业的快速升级并带动新需求的增长，另一方面使得以美团为代表的新需求得以在技术的加持下落地并快速成为国民级应用。5G时代，我们认为技术对于行业也将从现有模式的升级和全新模式的落地两个维度给传媒行业带来变化。