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研報掘金丨華西證券:予SerDes行業“推薦”評級,關注龍迅股份、國科微等
格隆匯 02-20 15:27

華西證券研報指出,看好智駕平權帶動車載SerDes行業規模加速增長並顯著打開長期市場空間;且目前國內市場主要被海外大廠壟斷,長期替代空間極其廣闊。近年來國產SerDes廠商陸續實現從0-1突破,有望顯著受益智能駕駛大beta。該行給予SerDes行業“推薦”評級,核心受益標的:龍迅股份(688486.SH)、國科微(300672.SZ)、裕太微(688515.SH)。供給格局來看,目前全球車載SerDes市場被ADI和TI所壟斷,根據QRResearch數據,二者在2023年合計佔有全球市場份額92%。需求端來看,根據QYResearch數據,全球車載SerDes芯片市場在2023年達到4.47億美元的銷售額預計到2030年將增長至16.77億美元,CAGR爲20.28%。未來隨着自動駕駛/智能座艙滲透率提升,車載攝像頭、激光雷達等傳感器的數量和分辨率不斷增加,該行認爲車載SerDes市場需求量會超過機構預期。

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