In 2019, the global data center market witnessed strong growth in terms of IT infrastructure spending as well as announcements for the development of multiple large data center facilities with a power capacity of 50 MW on full build. The enterprise adoption of cloud-based services, big data analytics, and IoT services has been a strong force for data center investments in developing countries. The global data center market is mainly dominated by colocation providers, followed by internet and cloud service providers. Many cloud-based services providers are dependent on the construction of facilities by colocation providers to colocate space on a wholesale basis. In terms of hyperscale construction, Apple, Facebook, Google, AWS, Microsoft, Alibaba, Baidu, OVH, and China Telecom are investing billions of dollars in the market every year.

The automobile industry, since the last decade, has been undergoing systemic shifts in the context of engine downsizing, vehicle system electrification, pollution controls, accessibility and health. The market is in close accordance with the economic climate and customer confidence. After the subprime crisis of 2008, the market was experiencing a slowdown, with car prices plummeting between 2010 and 2012, along with big North American OEMs suffering financial difficulties. This emerged from the subprime crisis with car revenues in North America, hitting pre-recession rates. The US, North America's largest economy, has emerged from the subprime crisis and reported steady growth in GDP.

受益5G产品对元器件需求增加、汽车电子及消费电子拉货带动，以及疫情后产业链补库存，全球半导体产业链景气度较高。中游台积电、联电及中芯国际等晶圆厂产能满载，带动下游封测厂产销两旺，20 年Q4 整体产能供不应求状态，封测龙头企业已经开始逐步提价应对市场产能紧缺。

11 月30 日-12 月4 日当周，电子行业较上周反弹，周涨幅达2.82%。PCB和被动元件领涨，周涨幅超6%，市盈率上，分立器件、半导体板块仍居前列。半导体涨价潮仍为市场核心关切，功率半导体龙头华润微周涨幅达19%，居重点股公司第一，通富微电、澜起科技等相关个股位居top3。此外，PCB板块，消费PCB 迎苹果备货景气，汽车需求复苏，板块龙头生益科技周涨幅为6.7%。面板行业延续高景气。

随着国内疫情的好转和经济复苏，我国电子行业已逐步恢复到正常状态，三季度电子行业业绩明显改善：2020 年前三季度电子行业整体归母净利润增速明显改善，整体归母净利润为920.42 亿元，同比增长29.09%，第三季度归母净利润同比增长35.34%。尽管国外疫情仍存在反复的可能性，但在疫苗取得突破性进展后，疫情控制出现曙光，电子行业需求有望进一步修复。

半导体行业观察，联电2020 下半年已针对新追加投片量的订单涨价10%，在2021 年第一季度还会再调涨8 英寸晶圆代工价格，其中，已经预订的产能将调涨5%-10%，后续追加投片量的订单，则以涨价后的价格再调涨1-2 成。