科技行业专题研究：关注优质长赛道、碳中和与元宇宙-220103（16页）.pdf

1、 1 () 豸 () Wind 2022103 棬 2.94% 300 0.39% 0.78% 2022 12 IDC 3ICT 豸硢 2022 2022 1鷽棬 20212023 CAGR 39.8%2 IDC 3ICT豸 2021 6340 28.9% C114 12 31 飬 6340 28.9%2021 202570%绯 C114 12 28 塱滮 202570%绯 500 70% 50% 150 200 120 12307棬顢 磻5G (19)(12)(4)411Jan-21 May-21 Aug-21 Dec-21(%)豸300 2 棬 2.94% 300 0.39%0.78% 2

2、022 12 IDC 3ICT 豸硢 2022 2022 1鷽棬 20212023 CAGR 39.8%2 IDC3ICT豸 1棬 2021 11 15 20212023 CAGR 39.8% 5G CPE 20212023 CAGR 143.6%棬 5G ARPU 2022飬塱 CAGR 7.76%飬 1 2020 2023E 2531.1 2803.0 T-box 46.70% 78.00% 3G 6.00% 0.00% 4G 93.00% 84.00% 5G 1.00% 16.00% 3G鵥/ 80 68.6 4G鵥/ 180 154.3 5G鵥/ 1000 867.4 3G( 0.5

3、0.0 4G( 19.8 28.3 5G( 1.2 30.4 21.5 58.7 2 202120235G CPE CAGR 143.6% 2020 2023E 5G CPE 300 5000 CPE5G 1 1 5G/ 1000 867.4 5G CPE 30 433.7 5G mNsMtRsMrNxPpNpMxOvNvM9PcM9PpNoOsQmOjMpPqRkPrRqM7NoOxOuOrMmMxNnMmM 3 2 IDC IDC 壬 IDC 飻2024 56920202024CAGR18.4% 3 3: 2021 10Meta Facebook潨裬紫5G 棬Sony 2022 IaaS

4、棬 2022IDC2022 2021/2022 5%/14% 4 2021/2022 5%/14% IDC 0%5%10%15%20%25%01002003004005006002014 2015 2016 2017 2018 2019 2020E 2021E 2022E 2023E 2024E -5%0%5%10%15%20%25%30%35%020,00040,00060,00080,000100,000120,000140,000160,0002015 2016 2017 2018 2019 2020 2021E 2022E 2023E 2024E 2025E 4 5G 2021 634

5、0 28.9% C114 12 31 飬 6340 28.9%2021 Omdia棺2022 5000 C114 12 29 Omdia 棬2022 5000 2020 2400 Omdia 粿 Omdia 2020 6.2 20227.19 2020 2% 2022 4%500 Mbit/s-1 Gbit/s 2020 15% 2022 21%202617%1 Gbit/s 700MHz20 C114 12 29 缯 700MHz 5G20軥 IP 5G 5G 廯700MHz 5G C114 12 31 5G 5G 5G OA GlobalData5GLeader C114 12 27 Gl

6、obalData 5G Mobile Core: Competitive Landscape Assessment 5G豸 2021 LeaderGlobalData ICT 2G/3G/4G/5G NSA/SA粢潫豸 5G 5G SA繲浼GlobalData 5GtoC 5GtoB 5 631忨4750 C114 12 29 631忨 4,750顣 2 3 0.93 106 12 31 5棬CT 豸 IT 106 2 5G AMFSMFUDM C114 12 30 2021 5G 棬漰 5G 豸 AMFSMFUDMUPFPCFNRFNSSF 硢 6 C114 12 28 2022-2023磨