AI 驱动高散热需求，封装材料市场预计 2027 年市场规模达 298 亿元。封装材料成本通常会占到整体封装成本的 40%～60%，其中多种封装材料决定了芯片散热性能的优劣，如固晶胶/膜、热界面材料（TIM）、均热片及散热器以及底部填充料（Underfill）等。我们认为封装材料市场规模将随着高散 热性能需求进一步提升。

Surface-mount technology (SMT) is a method where the electrical components are fitted directly onto the surface of a printed circuit board (PCB). An electrical component mounted in such a manner is known as a surface-mount device (SMD).

Cobots, often referred to as collaborative robots, are robots created to collaborate with people in a shared workspace or environment. Cobots are intended to be safe, adaptable, and simple to programme, in contrast to conventional industrial robots, which are frequently big and dangerous. A wide number of industries, including manufacturing, healthcare, logistics, and more, can use cobots. They are capable of carrying out a wide range of jobs, including assembly, packaging, inspection, and material handling.

A K-12 makerspace is a place in K-12 schools that allow students to create, tinker, invent, discover, and explore new ideas using a varied range of materials. These materials are referred to as K-12 makerspace materials. Some of these materials are 3D printers, computers, cameras, electronic tools, building materials, and art and craft supplies.

High-Speed Internet: The demand for high-speed internet services is constantly rising. Fiber optic cables offer significantly higher bandwidth compared to traditional copper cables, enabling faster data transmission speeds. As consumers and businesses require faster internet connections for activities such as video streaming, online gaming, cloud computing, and large-scale data transfers, the demand for fiber optics is surging.

A projector is an optical device that projects an image or a series of moving images onto a surface, typically a projection screen. Lasers are used in some modern types of projectors to project the image directly. Instead of using an external projection screen, a virtual retinal display or retinal projector projects an image directly onto the retina. Video projectors are the most common type of projector used at present.

People counting systems are comprised of individual counter systems that measure the number and direction of people traversing any entry or channel per unit of time. This gadget is commonly used at building entrances to track the overall number of tourists. People counting methods are used in a variety of industries, such as BFSI, transportation, and healthcare.

The cable testers are the essential tool that are used in the field of information technology and telecommunications to verify the integrity and connectivity of network cables. These testers are mainly used to test the accuracy of the signals and the frequency emitted by electronic devices, including servers and computers. The cable testers help the network technicians and the IT professionals in identifying and diagnosing issues in cabling systems and ensuring that data can flow reliably through the network.

全球AI大模型高速发展，算力需求高增驱动AI服务器三年CAGR约为29%的增长，带动算力芯片与光模块产业链受益。2023年以来，以ChatGPT、Sora为代表的多模态AI大模型横空出世，标志着人工智能技术已经进入一个新的纪元。未来，通用人工智能（ AGI）有望集多模态感知、大数据分析、机器学习、自动化决策于一体，重塑人类工作和生产生活的方式，引领人类步入第四次工业革命。算力的高速增长需要更多的AI服务器支撑，2023年全球AI服务器约85.5万台，到  2026年预计将达到236.9万台，CAGR为29.02%，从而驱动AI算力芯片与配套的光模块产业高增长。

指数方面：据闪存市场数据，2024 年第 11 周存储市场有所分化，NAND 指数单周提升 0.63%，DRAM 指数单周下降 0.02%，基本持平。价格方面：NAND Flash Wafer 价格持平不变， DDR4 eTT 资源跟随实际成交价小幅调涨；渠道市场方面，一季度淡季渠道需求平淡，渠道出现少量抛货现象，而成本端并未下降，因此行情整体变动不大，价格持平不变；行业市场方面，近期行业市场以少量备货需求为主，整体需求较淡，还有延迟提货的迹象，本周行业价格持平不变；嵌入式 Flash 方面，由于嵌入式资源供应依然有限，伴随现货市场嵌入式产品需求稳固，本周部分嵌入式价格上调：eMCP 和 uMCP 价格全面上涨（ 周环比+2.8%/+5.5%），部分eMMC 和 UFS 价格上调 （ 周环比 +1.5%/+1.4%），嵌入式 LPDDR 价格持平不变。

月度通信板块 指数上涨，光模块、通信网络技术服务等子板块表现较好。本月上证指数涨幅为 8.13%；深证成指涨幅为 13.61%；创业板指数涨幅为 14.85%；一级行业指数中，通信板块涨幅为 19.52%。通信板块个股中，上涨、维持、下跌的个股占比分别为 83.21%、0.76%和 16.03%。根据我们对通信行业划分子板块来看，本月光模块、通信网络技术服务相关子板块标的表现良好，板块涨幅分别为 35.14%、32.60%。