With the global businesses moving toward cloud, workplaces have become more dynamic than ever. Work dependencies on fixed machines are considered as a restriction to growth. The usage of laptops and Wi-Fi connections allow meetings to be conducted at any time, across any location. Projectors lacked portability and were purchased in bulk quantities, by commercial organizations, so that they could be set up in all the necessary locations. However, over the years, due to an increase in the adoption of minimalization, the projectors have been witnessing technological advancements, resulting in the reduction of their sizes. These factors made it possible for professionals to project their data and video anywhere, on the go. These systems constitute an evolving laser technology and are expected to transform the global projector market, by reducing the size of the projectors to ones that fit in hands. These projectors can also be embedded in small hand-held devices and accessories, like tablets, cameras, personal digital assistants, laptops, and smartphones.

Over the last few years, headphones have undergone major technological transformations in their appearance, sound output, portability, and connectivity due to advances in manufacturing and audio technologies. The evolution of headphones is a form of mobile revolution that started at the beginning of the millennium. MP3 players have moved from standalone devices to applications on the home screen of smartphones and other mobile devices. Therefore, music enthusiasts have turned to spend their time and effort on the hardware that is used to listen to music. In-line microphones are primarily a standard feature, while wireless connectivity has become more affordable. In the future, health sensors and other capabilities are likely to morph headphones into multifunctional gadgets.

PLC is the primary computing system, which controls automated machines. The system also helps in detecting any errors or flaws and alerts the technician. PLC systems are also preferred over traditional systems, like relays and switch boxes, due to their compact sizes. Another advantage of PLCs is their multi-functionality (owing to their programmable nature that can be used for multiple operations depending on the application). Machine downtime is one of the major factors that has an impact on the manufacturing efficiency of an industry. It is estimated that downtime is responsible for 5-20% of the manufacturing losses incurred during operation. The deployment of PLC systems enables the identification and rectification of errors, and can initiate rapid responses even without human intervention. Hence, these automated PLC systems are estimated to assist in reducing the machine downtime from 20% to almost 4%. The market studied is strongly impacted by the industrial output and the investment funneled into the computers and software. These PLC systems have traditionally been the foundation of both process and discrete factory automation. The growing adoption of Industry 4.0 across the industrial verticals has augmented the market studied.

The past two decades have witnessed rapid technological advancements and development of robots for rehabilitation applications, such as in sensorimotor deficits resulting after damage to the central nervous system. The increasing cases of these types of problems across the world have led to the development of innovative rehabilitation robots coupled with advanced interaction controls and the usage of integrated sensors to constantly monitor and adapt the support to the actual state of patients. These rehabilitation robots are helping patient's recovery by assisting and encouraging upright walking and by relearning of lost functions for patients affected by stroke and paralyses. According to a study by Maxon Motor AG, the company estimated that approximately 185 million people use a wheelchair daily, worldwide. Since the advent of first clinical studies with the MIT-Manus robot, robotic applications have been increasingly used to restore loss of motor function, mainly in stroke survivors suffering from an upper limb paresis but also in cerebral palsy, multiple sclerosis, spinal cord injury, and other disease types. Thus, numerous studies suggested that robot-assisted training, integrated into a multidisciplinary program, resulted in an additional reduction of motor impairments in comparison to usual care alone in different stages of stroke recovery.

新冠肺炎在全球范围内扩散，公共区域的疫情监控与防治成为遏制疫情的重要环节。目前，公共区域的体温筛检设备以非接触式设备为主，包括移动式筛检系统以及手持式筛检设备等。我们针对国内交通运输系统进行了市场空间的预测，累计达到41 亿元。除了交通系统外，国内高校、医院、公安系统、大型企事业单位等均展开了防疫筛检设备采购，预期整体需求将数倍于轨交系统。核心标的大立科技等。

“折叠”开启智能手机3.0 时代：全球疫情扩散对于智能手机销售形成了较大的冲击，但是无论三星的第二款折叠手机Galaxy Z Flip 还是华为最新推出的折叠手机Mate Xs 一经推出就受到市场追捧，产品都是瞬间售罄。我们认为“折叠”是“智能手机3.0”的基本功能，背后的逻辑在于折叠屏的出现极大的增强了手机移动办公和在线娱乐的场景，而且更重要的是折叠形态的出现让2.0 时代千篇一律的智能手机重新变得具有个性化，彰显个性的“折叠手机”才是智能手机的未来。逆势销售走红的折叠手机有望引发智能手机供应链的重塑，带来三大投资机遇：折叠面板、PI 材料和MIM 工艺。

介质谐振器天线是由低损耗、高介电常数的介质材料构成的谐振式天线。性能方面，DRA 除馈线以外无导体损耗和表面波损耗、具有较高的辐射效率、公差要求较低，且可以通过选择不同介电常数材料，灵活控制天线尺寸和带宽、实现小型化设计，较微带天线相比更具优势。 陶瓷介质谐振天线就是选用更高Q 值(品质因数)的陶瓷作为微波介质，微波介质陶瓷材料具有高介电常数、低介电损耗、温度系数小等优良性能，能满足微波电路小型化、集成化、高可靠性和低成本的要求。

因看好5G 时代红利下万物互联的产业趋势，我们拟对万物互联进行系列研究。本篇报告是我们万物互联系列的第2 篇专题报告，之前报告我们围绕可穿戴设备TWS 耳机的市场规模（3 测算）、发展方向（2 方向）和投资领域（4 领域）进行详细剖析。沿着系列研究的逻辑框架，我们发现万物互联另一重要领域-NEV 正经历3 大边际变化：1）政策及环保因素不断利好NEV；2）供应端全球51 家厂商规划EV，产业重组加速，L3 批量上市在即；3）创新者特斯拉规模化开启。我们进一步剖析认为NEV 与手机产业底层逻辑相似，且当前NEV 所处阶段与手机2008年相似，都处在1.0 向2.0 切换阶段。因而本文换一种视角看NEV，即从手机1.0向手机2.0 的发展历程，探析NEV 未来发展的一些结论和推演，并从终局角度确定汽车电子投资机遇，通过解剖细分产业发展趋势，给出投资建议。

产业链1 月销售数据全面回暖，中国地区增速高于全球。全球半导体销售较去年同期基本持平，1月全球半导体的销售额为353亿美元，同比-0.23%（10/11/12 月同比分别为-12.5%/-11.4%/-5.55%），降幅逐月收窄。

本篇报告聚焦行业供给端变化。在3/1《系列一》，我们回顾了自去年12 月以来的存储芯片价格上涨，并基于供需两端变化判断涨价将持续，行业开启新一轮涨价周期。本篇报告聚焦讨论行业供给端的各项重要指标变化。