电子行业2025年度投资策略：鹰击长空，逐浪而行

Investment Rating - The report indicates a positive outlook for the semiconductor industry, particularly in AI-related products, with expectations for significant growth in 2025 [18][29]. Core Insights - The semiconductor market is projected to recover, with AI-related products showing substantial growth potential. The year 2025 is anticipated to be a pivotal year for the launch of new AI terminal products and the synergy between hardware and software [18][29]. - The report emphasizes the importance of advanced packaging technology in the post-Moore era, predicting over 10% growth in advanced packaging equipment sales in 2024 and over 20% in 2025 [29]. - The global semiconductor materials market is expected to see a year-on-year growth rate of 7% in 2024, following a decline in 2023 [49]. Summary by Sections Section: AI and Semiconductor Growth - The demand for AI chips continues to rise, driven by new applications and a recovering consumer electronics market. The global packaging equipment market is expected to start growing from 2024, with significant contributions from bonding, encapsulation, and dicing equipment [29][49]. Section: Regional Market Insights - In 2023, the global semiconductor materials market revenue decreased by 8.2% to $66.721 billion, with China being the only region to achieve year-on-year growth. The wafer manufacturing materials segment saw a decline of 7.0$41.5 billion, while packaging materials dropped by 10.1% to $25.2 billion [49]. Section: Investment Opportunities - The report suggests focusing on investment opportunities in the semiconductor sector, particularly in AI-related products and advanced packaging technologies, as these areas are expected to drive significant growth in the coming years [18][29].