前沿科技行业年度展望系列报告5：2020全球5G和新基建产业展望-20200725[183页].pdf

1、5 20205G 2020725 1 4G5G4G 201938EB 10.5EB2014-2019CAGR64%116%BATJN CAGR18%37%32%豸 2014138/GB20196 /GB95%O2O 豸 5G60%2C 2B &4G 飬5G棬2022-2023 5GR162B5GeMBB uRLLCmMTC7R16 uRLLCC-V2X2B 1&5G 棬L1/L2202348%L3 棬C-V2X R16 2022 1,6295302019-2022CAGR21%30%25G AR/VR2020 6,9642017-2020CAGR14%R16 1 2 5G5GAIoT 5G20

2、19Q34000-5500 150065G1,75160% 5G6,36040%5G 仯+ 档棬Statista20172020 1,1102,480202515,670CAGR39% NB-IOTCat12G3G 5G5G2020NB- IOTCat15G20%3%1%202540%13% 9%AIoT档 5G5G豸罨跽棬2020 3402020CAPEX 3,34811% 5G1,803338%2022-2023 5G5G65G 70205G378420205G 2棬Iplytics202015G 33.1%14.6%11.9% PCB/CCL飬4G335%193%183% 355%5G

3、档 2 3 2018 2020420档5G AIIDC 1IaaS5G蹵 IDC2018-2022CAGR21.1%41.1% PaaS2IDC IDCIDC2019-2021 CAGR32%18% 20203000 COVID-19 絼裻5G5G 2B治 飺5G 4G5G2C2B 5G 5G 2B AIoT仯5G 豸 Skyworks 3 4 PS PE PB PEG2019 2020E 2019 2020E 2021E 2022E 2019 2019 TSLA.O 2,782 11 10 NA 334 124 78 34.3 NA AAPL.O 16,701 6 6 30 31 27 26

4、 18.5 5.7 QCOM.O 1,038 5 5 24 25 15 15 21.1 1.3 Skyworks SWKS.O 223 7 7 21 24 20 17 5.4 2.8 * BABA.N 6,632 9 7 35 29 23 19 5.3 1.6 * 0700.HK 6,439 12 10 48 40 33 28 9.2 2.4 * 3690.HK 1,428 11 10 238 215 65 44 11.0 3.1 * 1810.HK 491 2 1 30 25 21 18 4.1 1.6 * 0941.HK 1,419 1 1 9 9 9 9 0.9 3.2 600050.S

5、H 235 1 1 37 25 20 16 0.5 1.4 0788.HK 320 3 3 43 31 24 19 1.2 1.4 * 000063.SZ 250 2 2 34 30 23 19 4.5 1.6 * 0981.HK 270 9 7 115 112 109 97 3.9 29.5 * 300413.SZ 178 10 9 108 81 66 58 14.1 4.7 * 000938.SZ 131 3 3 50 42 34 28 2.7 2.3 603236.SH 30 5 4 144 81 50 34 12.1 2.3 * 300308.SZ 65 21 12 86 48 38

6、30 6.3 2.1 * 300502.SZ 35 9 6 112 55 38 30 17.5 2.0 * 600845.SH 96 10 8 75 50 41 34 8.9 2.5 * 300383.SZ 60 6 5 50 43 33 25 4.8 1.9 720 5 1 1. TSLA.O 2. AAPL.O 3. QCOM.O 4. SkyworksSWKS.O 5. BABA.N2B 6. 0700.HK2B 7. 3690.HK 8. 1810.HK 9. 0941.HK 10. 600050.SH5G 6 2 11. 0788.HK 12. 000063.SZ5G豸 13. 09