我们每周对于半导体行业的思考进行梳理，从产业链上下游的交叉验证给予我们从多维度看待行业的视角和观点，并从中提炼出最契合投资主线的逻辑和判断。回归到基本面的本源，从中长期维度上，扩张半导体行业成长的边界因子依然存在，下游应用端以5G/新能源汽车/云服务器为主线，具化到中国大

陆地区，我们认为“国产替代”是当下时点的板块逻辑，“国产替代”下的“成长性”优于“周期性”考虑。

The use of video surveillance in business is growing significantly, owing to the increasing need for physical security, coupled with the use of cloud-based services for centralized data. Globally, the drive to enhance the safety and security across different industries is adding to the market growth, significantly. With rapid developments in cloud computing and video surveillance software, the surveillance market has transformed, in comparison to the previous decade. The growth of the video surveillance market is expected to be fueled by the introduction of new IP-based digital technologies to detect and prevent undesirable behaviors, such as shoplifting, thefts, vandalism, and terror attacks. Video surveillance is being adopted in manufacturing, banking & financial services, and transportation and retail industries. This incorporation is higher in countries, such as the United States, the United Kingdom, India, China, and Brazil, owing to the large size of the concerned industries and higher awareness among consumers.

The report provides market dynamics and trends related to the VR in healthcare market. In addition, it presents the market estimations and forecast. The study estimates the revenues that are confined to the sales of virtual reality devices used in healthcare facilities. Valuations comprises revenue generated from VR Semiconductor Components, VR Devices, and VR Sensors. However, the market estimates do not include revenue generated from the post-sale services of the devices.

Digital video surveillance systems can be used for nearly any environment owing to increase in adoption of advanced surveillance by the government sector, manufacturers have realized the need for optimum IP surveillance systems. A lot of advantages are offered by an IP camera CCTV system offers over an analog format. There has been an increase in the demand for security applications such as video surveillance to monitor and record borders, ports, transportation infrastructure, corporate houses, educational institutes, public places, buildings, and others. The scope of the report discusses the potential opportunities for the market players to enter the global video surveillance market. This report also provides in-depth analysis of the market, outlining current trends, key driving factors, and key area of investment. The report includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder in the value chain. The report features the strategies adopted by key market players to maintain their foothold in the market.

Robotics technology is the intersection of technology, engineering, and science for producing machines called robots, which are used to replicate human actions. The key objective of the robotics technology is to enhance the performance of the organization and to produce better outcome. Robotics technology finds its wide range of application in various industry verticals, which include healthcare, domestic, agriculture, manufacturing, and others. Rise in need for automation and safety in organization and availability of affordable, energy efficient robots drive the growth of the market. In addition, rise in labor & energy costs and increase in usage of robotics technology in different industry verticals fuel the growth of the market. However, high initial cost of the robots and lack of awareness among the SMEs hamper the market growth. Furthermore, growth in adoption of robotics technology in emerging economies and increase in use of this technology in adverse applications are expected to provide lucrative opportunities for the growth of the market.

上周（8月17日-8月21日）上证综指上涨0.61%、申万家用电器指数下跌1.95%，家用电器指数跑输上证综指2.56pct，家用电器行业子板块涨跌幅前3名分别为：洗衣机+18.99%，冰箱+2.88%、小家电+1.48%，洗衣机板块涨幅较大的主要原因系惠而浦收到格兰仕要约收购利好。

7 月家电社零数据同比下降2.2%，暂时回调，1-7 月累计同比下降10.8%，降幅较1-6 月收窄1.4 个pct。7 月为传统销售淡季，加之618 分流影响较大，7 月家电多个品类增速放缓，我们认为仅为短期情况，中长期仍看好地产回暖和新消费下的家电板块增长。维持地产后周期和新消费两条投资主线的推荐逻辑。

投资策略：维持推荐评级。海外云计算巨头亚马逊、微软、谷歌Q2云业务延续Q1增长势头，三大巨头在手的云业务订单充足，有望为后续业绩形成支撑。

本周A 股市场，上证综指上涨0.61%，创业板综指下跌1.36%。计算机行业涨跌幅排名第21，下跌0.42%。计算机子板块中，计算机设备上涨0.07%，计算机软件下跌1.02%，云服务下跌1.87%，产业互联网上涨2.30%。计算机个股方面，本周涨幅前十的个股分别是道通科技、御银股份、优博讯、*ST 博信、千方科技、汇金股份、万兴科技、赢时胜、上海钢联、丝路视觉。