数字经济产业迎来新一轮发展浪潮，通信行业是数字经济产业中必不可少的基础设施。未来，随着5G 建设全面推进，通信行业仍存在较大发展机遇：1）云计算仍是未来几年，通信行业增速最快、增长确定性最强的赛道，元宇宙的发展又进一步提升了对于数据流量与算力的需求，未来云基础设施投资有望进一步扩大；2）“数字经济”产业规划政策背景下，我们认为将进一步释放产业投资动能，我们持续看好模组、工业互联网、卫星互联网、车联网、VR/AR、超高清等5G 新应用发展方向；3）国产替代及信创产业有望迎来新一轮发展机会，一方面，随着中美摩擦的不断加剧，国内产业链国产化趋势明显；另一方面，随着国家对于信创产业的不断重视，下游应用及厂商逐渐增多，行业景气度不断提升，信创产业相关公司将持续受益。

医疗IT 建设受医院管理与诊疗需求驱动，与国内医疗体制改革同行，逐步形成了以医院信息化、区域/公共卫生信息化、互联网医疗、物联网医疗、医疗大数据&AI、医保信息化、药品信息化为核心的信息化产品体系。随着我国医疗体制改革进入以医保为抓手的第三阶段，医疗IT 也步入了以电子病历、智慧服务、智慧管理等多个评级体系驱动的“以评促建”发展阶段。

随着技术持续迭代驱动成本端下行，以及自动驾驶落地应用场景逐渐明确，车载激光雷达有望于2022 年迎来量产元年。根据我们的测算，2022 年国内车载激光雷达出货金额有望达15 亿元，至2025 年有望提升至110 亿元，对应2023~2025 年CAGR 为94%。全球来看，中国的工程师红利、完善的汽车上游零部件/光通信产业链为孕育激光雷达产业快速发展奠定基础。目前我国激光雷达上游核心部件如发射端激光芯片、接收端探测器芯片、处理芯片仍主要依赖进口，建议关注国内厂商进口替代机遇；上游光学元件/组件国内产业链配套则较为齐全，有望率先受益于激光雷达市场的快速放量。

在系统厂商主导的国产化推动下，我们认为2022 年中国半导体代工行业收入将继续保持17%以上高增长，产能紧张状况仍将持续。我们预计到2025年中国大陆半导体产能将比2021 年增长109%，全球占比达到17%，初步满足手机、汽车、家电等行业成熟工艺国产化需求。经历了过去两年的缺芯之后，半导体生产环节的战略价值重新得到认识，在IDM 厂商提价的带动下，我们预计全球成熟工艺半导体代工营利性进入上升通道。

Lithium-ion battery recycling is referred to collection of lithium-ion batteries through various sources including automotive, industrial, consumer & electronics appliances and recovery of metals of element through recycling processes. The global lithium-ion battery recycling market estimation includes revenue reported by selling these recovered metals or elements whether that goes into further battery recycling or other second usage applications. Reportedly, most metals recovered go into battery manufacturing only.

The market took a significant hit in 2020 due to the COVID-19 pandemic, with sales declining by 4.6% from 2019. However, Frost & Sullivan expects a 3.8% growth in 2021. Positive trends in pharmaceuticals, food and beverage processing and packaging, electronics and semiconductors, and automotive will drive the market in 2021 and during the forecast period. There is a growing global demand for industrial automation to enhance operations and productivity. Manufacturers also adopt automation post-COVID-19 to automate their manufacturing units more. This is to minimize human intervention should another pandemic arise.

Computed tomography (CT), X-ray, and ultrasound, though not the first choice for COVID-19 diagnoses, became important tools in managing COVID-19. Hence, these modalities generated better revenues than the others. Teleradiology witnessed major adoption as more practices shifted their work from hospitals to homes and home offices necessitated investments in hardware and software. Due to financial problems, efficiency and productivity became top priorities for hospital administration. Artificial intelligence (AI), cloud, and analytics were the major areas that received significant attention during the pandemic year.

The increase in geriatric population, and the increase in prevalence of chronic diseases, technological advances in imaging methods and the rising adoption of imaging devices in medical evaluations are the major key drivers of the Global Microfocus X-ray Source Industry Market. The aging of the population is expected to increase the prevalence of various chronic diseases, resulting in high demand for medical imaging devices. The market growth is propelled by stringent regulations by various governments regarding industrial safety and product quality, increasing demand for NDT services in automotive and aerospace industries, advancements in software that are integrated into radiography systems, and the preventive maintenance of industrial equipment.