Key points:
Huawei released the hybrid SUV AITO M5, and the Hongmeng intelligent cockpit has attracted much market attention
AITO M5 is equipped with harmonyos intelligent cockpit system. The intelligent cockpit system can realize full interface voice control and omni-directional perception system, optimize driving experience and safety, and realize the intelligent interconnection of people, cars and homes; Hongmeng intelligent cockpit system has attracted market attention.
Cabin intelligence has become the mainstream trend of development, and the vehicle gauge semiconductor industry chain has benefited
Based on the characteristics of facing customers directly and relatively low difficulty in technical implementation, the intelligent cockpit has become the first plate for the landing of automobile intelligence, and has developed rapidly. IHS data show that the global smart cockpit market will be about US $42 billion in 2021 and is expected to grow to US $68.1 billion in 2030. In 2020, the penetration rate of new vehicles equipped with intelligent cockpit in the global market will be about 45%, and it is expected that the global market penetration rate will increase to 59.4% in 2025. China’s market penetration may exceed 75% by 2025. The increase of market penetration of intelligent cockpit provides a new growth point for the market demand of upstream semiconductor hardware products. Ihsmarkit statistics show that the average carrying capacity of single vehicle sensors (only including cameras, millimeter wave radar and sign monitoring sensors) in 2020 is 3.3, which is expected to increase to 11.3 by 2030. As the core of cockpit control, intelligent cockpit chip has high added value. The continuous improvement of shipment promotes chip suppliers to form scale advantages. Traditional automobile chip enterprises and consumer chip manufacturers have entered the market one after another; Chinese enterprises Huawei, horizon, jiefa technology, Xinchi technology, Zte Corporation(000063) and other enterprises have layout.
Investment advice
Intelligent cockpit is the mainstream trend of the development of automobile cockpit. The improvement of market penetration provides a new growth point of market demand for upstream semiconductor hardware products such as memory chips, sensors, cameras and electronic control systems; Automotive intelligence promotes the development of automotive electronic and electrical systems to sub domain control. The market demand for intelligent cabin chips continues to increase. Intelligent cabin chips have high added value and scale advantages, and chip manufacturers in the industrial chain benefit significantly. It is recommended to continue to pay attention to the vehicle specification semiconductor industry and give the industry overweight rating.
Risk statement
The increase of market penetration is less than expected; The R & D Progress of Chinese semiconductor enterprises is less than expected; Changes in internal and external macro policies.
