Earlier, gaming was restricted to board games and associated video games. The introduction and popularity of computers and other electronic devices, along with the Internet, have led to the commercialization of gaming. The rapid adoption of gaming as a profession has increased the demand for gaming headsets.

Industrial robots can substitute manual workers, particularly in processes that involve a certain degree of risk in terms of employee safety. The widespread use of industrial robots for several processes like material handling, logistics, painting, assembling, and machining has increased the scope of positioners used for respective applications. As industrial robots continue to witness high adoption rates due to their benefits of productivity and accuracy, the global industrial robot positioners market will generate considerable revenues during the forecast period.

Retrofitting existing smoke detectors to enhance their features and service life as well as the increasing applications and integration of smoke detectors with buildings have a positive impact on the market. Discounts offered by insurance companies to individuals who have a monitored security system installed in their homes will encourage the adoption of these products, especially smart smoke detector systems. Growing security concerns among consumers, particularly in developing countries, are expected to boost the market's growth during the forecast period. However, strict regulations governing the disposal of these products could limit the adoption of smart smoke detector systems, which, in turn, could limit the market growth over the next five years.

The primary function of a condenser is to desuperheat high-pressure gas, condense it, and sub-cool the liquid. Condensers, like evaporators, are heat exchanger equipment that extracts heat from the hot refrigerant gas through the condensing medium. Water and air are chosen as condensing mediums as they are naturally available and can offer a suitable temperature range for condensing refrigerants. The three types of condensers that are commonly used are as follows:

Previously, gamers were restricted to board games and associated video games. The growing introduction and popularity of PCs and electronic devices and the increasing adoption of the Internet have led to the development and commercialization of gaming. With the rapid adoption of gaming as a profession, the gaming laptop market is growing exponentially in the current market scenario.

Industrial routers are networking devices that allow one or more equipment/devices to be connected to other network devices or other networks. They are widely used in the workplace and office networks for data transfer. In the recent times, these routers are being used in firms and plant floors to meet the communication needs of industrial applications. The environment inside an industrial setup is harsh, with extreme temperature conditions like humidity and vibration. Industrial routers are designed to be rugged to withstand such extreme conditions and give optimal performance.

中国电子产业已成为全球创新中心：中国凭借逐步完善的产业链和技术创新生态圈，在以AI 和IoT 为主导的硬件智能时代正逐渐成为新时代的创新中心。AI 作为引领新一轮硬件创新的核心技术，将带来三阶段的影响：产生芯片新需求、产生智能家居等物联网的新应用和产生颠覆冯诺依曼的新体系。而国内厂商已深入AI 领域，在语音识别、虚拟现实、动作执行、处理器、惯性传感器、通信等环节均广泛布局。

在人工智能立夏将至的大趋势下，芯片市场蛋糕越做越大，足以让拥有不同功能和定位的芯片和平共存，百花齐放。后摩尔定律时代，我们强调AI芯片市场不是零和博弈。我们认为在3-5 年内深度学习对GPU 的需求是当仁不让的市场主流。行业由上至下传导形成明显的价值扩张，英伟达和AMD 最为受益。

计算机行业的收入和盈利在2017 年Q3 延续了之前增速持续放缓的态势。从中位数来看，2017 年Q3 计算机板块的营收增速中位数为18.99%，相较于2016 年前Q3 营收增速中位数20.97%，下降了1.98 个百分点；净利润增速中位数为14.61%，相较于2016年前Q3 净利润增速中位数24.37%，下降了9.76 个百分点；同时扣非净利润增速中位数为14.51%，相较于2016 年前Q3 扣非净利润增速中位数18.85%，下降了4.34 个百分点。

上周传媒板指下跌0.66%，上证综指下跌0.86%，深证成指下跌1.10%，创业板指下跌2.79%。上周板块涨幅前三：快乐购（33.33%）、帝龙文化（13.33%）、天润数娱（9.97%）；板块跌幅前三：出版传媒（-17.42%）、龙韵股份（-16.94%）、金亚科技（-16.87%）。年初至今板块涨幅前三： 掌阅科技（733.62%）、宣亚国际（330.29%）、中广天择（248.77%）；板块跌幅前三：丝路视觉（-62.20%）、金亚科技（-56.56%）、盛迅达（-55.69%）。

世界是非线性的,科技更是非线性的，这决定了用线性思维研究科技产业的不合理性。回顾科技产业变迁的历史，都是跨越性的、推倒重来的承上起下。我们习惯将研究基于连续性的假象之上，这种假设是我们研究的困境。

17 年是电子行业业绩表现亮眼、热点概念频出、指数表现强势的一年，也是中国作为全球制造强国，在经历了长期的学习、积淀逐步迈入电子产业收获期的一年。基于对消费升级趋势的判断以及对技术创新的展望，我们对18 年电子行业的前景展望乐观，重点关注iPhone X 创新渗透、AR 相关的光学变革、上游制造产业中心转移、半导体、汽车电子等方向。

个股方面，三季报结束，我们认为近期投资热点将聚焦游戏板块等个股业绩较为确定的传媒子板块；同时我们始终看好拥有相关行业平台和垄断地位的上市公司，及他们对产业链的整合战略。推荐关注完美世界、金科文化、分众传媒和视觉中国。

国内的流量消费爆发式增长，2016 年流量消费 93612.2 万 G，户均移动互联网接入流量 772M/户，2017 年 9 月月户均移动互联网接入流量达到2007M，比去年同期增长 140%。