ZTE(SZ:000063) Chan Ye Xin Xi Wang·2025-07-23 01:22Core Viewpoint - The thin client market in China is experiencing growth, with sales projected to increase from 1.494 million units in 2020 to 1.83 million units by 2024, reflecting a compound annual growth rate (CAGR) of 5.2% driven by the demand for desktop cloud products and the acceleration of IT cloudification in enterprises [1][12]. Group 1: Market Overview - Thin clients are small, industry-specific commercial PCs designed based on PC industrial standards, utilizing embedded processors, small local flash storage, and streamlined operating systems for efficient and stable operation [2][4]. - The global thin client market is expected to see sales exceed 4.4 million units by 2024, with an 8.5% year-on-year growth, and the Asia-Pacific region accounts for approximately 52% of this market [10][12]. Group 2: Competitive Landscape - The thin client market is becoming increasingly competitive, with major players including Dell, HP, and local manufacturers like Ascend and ZTE. The top three companies are projected to hold 65% of the market share by 2024, an increase of 8 percentage points year-on-year [14][16]. - Ascend leads the thin client market with a projected shipment of over 830,000 units in 2024, capturing 45.4% of the Chinese market, followed by ZTE and Huawei [16]. Group 3: Application and Benefits - Thin clients are particularly suited for work-intensive industries where space and power outlets are limited, such as call centers, educational institutions, and high-security environments like financial institutions and government agencies [8][12]. - The advantages of thin clients include lower hardware requirements and costs, centralized management, enhanced security, and reduced energy consumption, contributing to lower overall IT costs and carbon footprints for enterprises [4][12]. Group 4: Future Trends - The thin client market is expected to continue growing, with sales projected to exceed 2.8 million units by 2029, driven by the increasing adoption of desktop cloud services and the need for energy efficiency and cost reduction across various industries [18]. - Technological advancements in AI and IoT are anticipated to enhance the capabilities of thin clients, making them more intelligent and adaptable to diverse application scenarios [18].