2025 Global Automotive Consumer Study Key Findings: Global Focus Markets January 2025 2025 Global Automotive Consumer Study | Key Findings: Global Focus Markets 2025 Global Automotive Consumer Study | Key Findings: Global Focus Markets Dear reader, The global automotive industry is undergoing a tremendous amount of change at an unprecedented pace. At the center of this change sits a consumer with rapidly evolving expectations of the mobility experience. Brand loyalty is taking center stage as emerging manuf ...

Investment Rating - The report does not explicitly provide an investment rating for the automotive industry. Core Insights - The global automotive industry is undergoing significant transformation driven by evolving consumer expectations for mobility experiences and increasing brand loyalty, with emerging manufacturers posing a threat to traditional players [2][3]. - While the growth momentum for electric vehicle (EV) sales has slowed, the long-term demand for zero-emission transportation remains clear [2]. - The integration of software-defined vehicles is reshaping every aspect of the automotive value chain, prompting manufacturers to rethink vehicle design, manufacturing, sales, and driving [2]. - Advanced Driver Assistance Systems (ADAS) and connected vehicle functionalities are enhancing safety and engagement in mobility [2]. - Artificial intelligence is advancing the development of next-generation autonomous fleets, shifting consumer preferences from ownership to Mobility as a Service (MaaS) solutions [2]. Summary by Sections Vehicle Electrification - Interest in Battery Electric Vehicles (BEVs) remains stable in most markets, while interest in Internal Combustion Engine (ICE) and hybrid vehicles is increasing [12]. - Consumers are seeking solutions that reduce fuel costs and emissions without relying on charging infrastructure [12]. Future Vehicle Intentions - There is a rising trend of consumers planning to switch brands for their next vehicle purchase, indicating a need for stronger customer relationships, especially in developing markets like China [13]. - Concerns about the safety of autonomous vehicles persist, with over half of consumers in India, the UK, and the US expressing worries [14]. Connectivity - Many young consumers in markets like India and Southeast Asia show interest in MaaS over traditional vehicle ownership, with a significant portion driving daily [15]. Mobility as a Service (MaaS) - The report highlights a growing interest in MaaS solutions among younger demographics, particularly in regions with high vehicle usage [15]. Charging Infrastructure and Consumer Preferences - Most consumers prefer to charge their EVs at home, with a significant number planning to install home chargers [24][30]. - The majority of surveyed consumers prioritize fast charging times and accessibility when considering EV charging experiences [34]. Payment Preferences - Consumers across various markets prefer familiar payment methods, such as credit/debit cards, for public EV charging [38].

Investment Rating - The report does not explicitly provide an investment rating for the banking industry Core Insights - The banking industry faces significant challenges in adapting to a low-growth, low-interest-rate environment, with management under pressure due to economic uncertainties and geopolitical tensions [5][8] - Non-interest income is expected to become a key growth driver as net interest income faces downward pressure due to rising deposit costs [5][14] - The implementation of AI-driven banking strategies is seen as a potential accelerator for technological modernization [67][70] Summary by Sections 2025 Macroeconomic Changes Impacting Global Banking - The US economy is projected to experience a soft landing with GDP growth of 1.5% in 2025, influenced by consumer spending and rising unemployment [5] - Inflation is expected to approach the 2% target, leading to potential interest rate cuts [5][6] Basel III "Final" Rule Proposals Impact - The new Basel III proposals aim to lower capital requirements, potentially strengthening the overall performance of the banking sector [35][36] - The proposals suggest a tiered regulatory approach based on bank size, impacting capital requirements for large banks [35][36] Increasing Non-Interest Income - Banks are encouraged to diversify their revenue streams by focusing on non-interest income, which has historically accounted for about 35% of total income [47][48] - Strategies include enhancing retail banking services, expanding payment services, and improving wealth management offerings [48][49] Retail Banking - Service fees from retail banking are a significant source of non-interest income, but regulatory pressures may limit future growth [51] - Banks should consider innovative pricing strategies and service bundling to enhance fee income [51] Payment Services - Payment companies are facing challenges from declining transaction margins and increased regulatory scrutiny [53] - Strategies to increase fee income include enhancing transaction security and offering additional value-added services [54] Wealth Management - Wealth management firms are under pressure to reduce fees while enhancing service offerings to retain clients [58][63] - Emphasizing personalized consulting services and integrating additional financial planning services can help increase revenue [63] Investment Banking and Capital Markets - Capital market revenues are expected to rise due to increased M&A activity and demand from private equity firms [65] - Banks are exploring unconventional methods to enhance service fees, such as increasing breakage fees and targeting smaller transactions [65] AI-Driven Banking Strategy - The adoption of AI technologies is anticipated to transform banking services and improve profitability [69][70] - Addressing technological debt and modernizing data infrastructure are critical for successful AI implementation [71][72]

Investment Rating - The report does not explicitly provide an investment rating for the banking industry Core Insights - The banking industry faces significant challenges in adapting to a low-growth, low-interest-rate environment, with management under pressure due to economic uncertainties and geopolitical tensions [5][31] - Non-interest income is expected to become a key growth driver as net interest income faces downward pressure due to rising deposit costs [5][14] - The implementation of AI-driven banking strategies is seen as a potential accelerator for technological modernization [67][70] Summary by Sections 2025 Macroeconomic Changes Impacting Global Banking - The U.S. economy is projected to grow at 2.7% in 2024 but slow to 1.5% in 2025, with inflation pressures easing [5] - Consumer debt reached a record high of $17.7 trillion, impacting consumer spending [5] - The Federal Reserve may lower interest rates three to four times in 2025, with the effective federal funds rate expected to fall to between 3.5% and 3.75% [5][6] Basel III "Final" Rule Proposals Impact on Banking - The new Basel III proposals aim to reduce capital requirements, potentially strengthening the overall performance of the banking sector [35] - Global systemically important banks (G-SIBs) may see an increase in common equity tier 1 capital by 9% under the new rules [35][36] - The proposals suggest a more lenient regulatory environment, which could lead to increased merger and acquisition activity among smaller banks [35][36] Increasing Non-Interest Income in 2025 - Banks are encouraged to focus on increasing non-interest income due to anticipated declines in net interest income [47][48] - Strategies include bundling services in retail banking, expanding payment services, and enhancing wealth management offerings [48][50][57] Investment Banking and Capital Markets - Capital market revenues are expected to rise due to a recovery in M&A activity and increased demand from private equity firms [65] - Banks are exploring unconventional methods to enhance service fee income, such as increasing contract termination fees [65] AI-Driven Banking Strategy Implementation - The adoption of AI technologies is projected to significantly enhance profitability in the banking sector, with potential profits reaching $2 trillion by 2028 [69] - Banks must address technological debt to fully leverage AI capabilities and modernize their infrastructure [70][71]

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - The report emphasizes the importance of establishing trustworthy AI solutions through effective governance, highlighting that over 90% of organizations in the Asia-Pacific region need to improve their AI governance practices [4][9][35]. Summary by Sections Report Overview - The report aims to provide insights for executives and technology leaders in the Asia-Pacific region to improve governance structures and develop more trustworthy AI solutions [4][6]. Addressing Risks of Rapid AI Adoption - The rapid adoption of AI is transforming the business landscape in the Asia-Pacific region, with AI investment expected to quadruple to $117 billion by 2030 [12]. - Over half of technology workers believe their organizations cannot effectively manage AI-related risks, with concerns primarily around security vulnerabilities (86%), monitoring (83%), and privacy (83%) [9][12][15]. - The report indicates that more than a quarter of organizations experienced an increase in AI-related incidents over the past year [10]. Path to Excellent AI Governance - The Deloitte High Trust AI Framework outlines seven essential elements for establishing trustworthiness in AI solutions: transparency, explainability, fairness, neutrality, robustness, reliability, privacy protection, security, accountability, and responsibility [5][19]. - The report introduces the AI Governance Maturity Index, which assesses organizations' AI governance maturity across five pillars: organizational structure, policies and principles, procedures and controls, talent and skills, and monitoring, reporting, and evaluation [24][26]. Current State of AI Governance in the Asia-Pacific Region - Less than 10% of organizations in the Asia-Pacific region have the necessary governance structures for trustworthy AI, with 91% of organizations at either "beginner" or "developing" levels [35][36]. - The report highlights significant improvement opportunities in the "policies and principles" and "procedures and controls" areas, where 31% and 23% of organizations are at the "beginner" level, respectively [35][38]. Benefits of Excellent AI Governance - Organizations can gain substantial benefits from improving AI governance maturity, including increased trust in AI outputs, enhanced organizational reputation, and accelerated deployment of AI solutions [79][80]. - Effective AI governance can lead to a higher likelihood of using AI solutions across various business areas, with mature organizations using AI tools significantly more than those at lower maturity levels [83][84].

Investment Rating - The report emphasizes the importance of "new quality productivity development" in building a modern industrial system, indicating a positive outlook for high-tech and high-growth companies in China [2][3]. Core Insights - The theme of the 2024 Deloitte China High-Tech High-Growth 50 and Tomorrow's Stars project is "Pursuing New Quality, Surpassing Growth," encouraging companies to integrate disruptive technological innovations with new industries, models, and formats [2][3]. - The report highlights that 2024's top 50 companies experienced a slight decline in revenue scale compared to 2023, with 44% of the companies having revenue exceeding 100 million [3][29]. - The life sciences sector leads the industry distribution, accounting for 39% of the top companies, surpassing hardware and software sectors [3][36]. Summary by Sections 1. Project Background - The Deloitte High-Tech High-Growth project has a 30-year history and aims to recognize and celebrate outstanding companies in China that demonstrate continuous growth and innovation [9][10]. - The project includes various rankings, such as the National 50 and Regional 20, with participants automatically becoming candidates for higher accolades [10][18]. 2. Overview of the 2024 Top 50 and Tomorrow's Stars - The report lists 100 companies, with Beijing, Shenzhen, and Guangzhou accounting for 59% of the total [3][21]. - The average three-year revenue growth rate for the top 50 companies is 588%, showing a significant decline from previous years [29][30]. 3. CEO Survey Analysis - A majority of the top 50 and Tomorrow's Stars companies plan to invest heavily in artificial intelligence and machine learning, with over 50% of their revenue allocated to R&D [71][75]. - The report indicates that 81% of the top 50 companies and 71% of Tomorrow's Stars have R&D personnel accounting for over 40% of their workforce [71][72]. 4. Pursuing New Quality, Surpassing Growth - The report discusses the need for companies to focus on innovation and growth amidst global economic uncertainties, with 80% of CEOs planning to revise their business strategies to enhance AI integration [100].

Investment Rating - The report does not explicitly provide an investment rating for the industry but emphasizes the importance of technological innovation and high-quality growth in the high-tech sector [2][3]. Core Insights - The theme of the 2024 Deloitte China High-Tech High-Growth 50 and Rising Stars project is "Pursuing New Quality, Surpassing Growth," which encourages companies to integrate disruptive technological innovations with new industries, models, and formats to achieve high-quality growth [2][3]. - The report highlights that the top 50 high-tech high-growth companies in China have seen a slight decline in revenue scale compared to 2023, with 44% of these companies having revenue exceeding 100 million [3][29]. - The life sciences sector leads the industry distribution, accounting for 39% of the top companies, surpassing hardware and software sectors [3][36]. Summary by Sections 1. Project Background - The Deloitte High-Tech High-Growth project has a 30-year history and aims to recognize and celebrate outstanding companies in China that demonstrate continuous growth, innovation, and social responsibility [2][3]. 2. Overview of the 2024 Top 50 and Rising Stars - A total of 100 companies were listed, with Beijing, Shenzhen, and Guangzhou accounting for 59% of the total [3]. - The report indicates that 66% of the Rising Stars have more than 40% of their workforce in R&D, and 30% have over 100 patents [3][60]. 3. CEO Survey Analysis - The survey reveals that 71% of the top 50 companies and 68% of the Rising Stars have over 40% of their employees in R&D [71]. - Companies face challenges in developing new quality productivity, particularly in terms of high R&D costs and funding pressures [71]. 4. Industry Distribution - The life sciences sector has seen a significant increase in representation, reaching 36%, while the internet sector has declined in prominence [36][45]. - In the secondary industry classification, biotechnology/formulations and semiconductors/components are the top two sectors [38][49]. 5. Revenue Growth and Financial Performance - The average three-year revenue growth rate for the top 50 companies is 588%, a noticeable decline from the previous year [29][30]. - The top 10 companies experienced a significant drop in average growth rate to 1408% from 5111% in 2023 [29]. 6. Geographic Distribution - The concentration of top companies in Beijing, Shenzhen, and Guangzhou has increased to 70% [34]. - The report notes a trend of rising companies from the Greater Bay Area and Yangtze River Delta regions [61][89]. 7. Future Trends and Challenges - Companies are increasingly focusing on sustainable development and green technologies, with 58% of the top 50 companies implementing employee environmental training [75][76]. - The report indicates a strong demand for financing, with over 80% of companies planning private financing, primarily in the range of 100 million to 500 million [82][86].

Investment Rating - The report maintains an optimistic outlook for the Asian economy, predicting growth acceleration in 2018 despite previous concerns about a slowdown [12][16]. Core Insights - The report emphasizes that domestic conditions in major Asian economies, such as China and India, are increasingly favorable for economic growth due to structural reforms and stability [12][20]. - Infrastructure spending is highlighted as a key driver for both short-term economic activity and long-term productivity growth across the region [25][31]. - The ongoing global demand recovery is expected to provide significant momentum for trade-driven economies in Asia, benefiting exports [32][46]. Summary by Sections Domestic Conditions - Many Asian economies are experiencing a rebound in domestic demand, with internal trade being a major driver of export growth [13][20]. - Structural reforms in countries like India and China are yielding positive results, enhancing the overall business environment [20][21]. Infrastructure Investment - Governments across Asia are committing substantial funds to infrastructure projects, particularly in transportation, which will stimulate economic activity [25][34]. - China's Belt and Road Initiative is a significant infrastructure project aimed at improving trade links between Asia and Europe, with several agreements already signed [25][73]. Global Demand Recovery - The global economy is showing signs of recovery, with over 75% of economies experiencing growth, which is expected to accelerate [32][33]. - The report notes that the revival of global trade is benefiting Asian manufacturers, with increased demand for exports [46][47].

Investment Rating - The report indicates a positive outlook for the commercial real estate industry, suggesting a potential recovery in 2025 after two years of revenue decline and expenditure cuts [4][10]. Core Insights - The commercial real estate sector is expected to experience a turning point in 2025, driven by economic recovery and a shift in investment strategies towards sustainable and technology-driven solutions [4][20]. - A significant majority of respondents (88%) anticipate an increase in revenue for 2024, marking a notable shift in sentiment compared to previous years [10]. - The report highlights the importance of adapting to emerging technologies, particularly artificial intelligence, and the need for companies to enhance their digital capabilities [4][10]. Summary by Sections Global Economic Growth and Inflation - The rebound of the commercial real estate industry is closely tied to global interest rate trends, with expectations of a more stable economic environment in the next 12 to 18 months [7][9]. - Economic growth forecasts for various regions indicate a mixed recovery, with the U.S. expected to see a decline in GDP growth rate by 1.3 percentage points in 2025 [8][9]. Investment Focus Areas for 2025 - Respondents indicated a shift in focus towards high-growth segments such as industrial/manufacturing real estate, multi-family housing, and logistics/warehouse properties, reflecting changing market dynamics [20][30]. - The report notes that 68% of respondents expect improvements in capital costs and availability, a significant increase from previous years [21][25]. Climate Resilience and Financial Viability - The report emphasizes the need for deep energy retrofits in existing buildings to meet climate goals, with 76% of respondents planning such initiatives in the next 12 to 18 months [49][50]. - There is a growing recognition of the financial implications of sustainability strategies, with 36% of respondents adopting a balanced approach to sustainable investments [51][53]. Talent Attraction and AI Readiness - The commercial real estate industry is focusing on attracting the next generation of talent by addressing their concerns and enhancing skill development [4][20]. - The readiness to embrace artificial intelligence solutions is seen as crucial for the industry's transformation, with a majority of respondents indicating plans to invest in data and technology [10][19].

2025 年技术趋势 在德勤第十六年度科技趋势报告中，人工 智能几乎贯穿了每一个趋势。未来，它将 成为我们所有工作的基础结构的一部分。 2025 年技术趋势 i 02 . . . 执行摘要 目录 05 . . . INTRODUCTION AI 无处不在 ： 像魔法 ， 但有算法 09 . . . 交互 空间计算占据中心舞台 17 . . . 信息 AI 的下一步是什么 ？ 27 . . . Computation 硬件正在吞噬世界 技术业务 37 ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． ． 新的数学 ： 在量子时代解决密码学 网络和信任 53. 智能核心 ： AI 为核心现代化改变一切 核心现代化 60 . . . Conclusion 广度是新的深度 ： 有意相交 ...