电子：汽车智能化提速，关注车载摄像头机遇

Investment Rating - The report maintains an "Outperform" rating for the industry [6]. Core Insights - The automotive market is increasingly competitive, with smart driving becoming a key battleground for major manufacturers. The rapid development of automotive intelligence is expected to drive significant changes in the global automotive industry by 2024, supported by policy and market demand [3][4]. - By 2025, the penetration rate of L1/L2 level smart driving is projected to reach approximately 60%, while L2+/L3 level smart driving is expected to steadily increase to around 20%. The combined penetration rate for L1-L3 smart driving could reach 80% by 2025 [3][4]. - The demand for perception sensors, particularly vehicle-mounted cameras, is anticipated to grow significantly as the automotive industry accelerates its smart transformation. The vehicle-mounted camera market is expected to expand continuously, with a projected global market size of approximately $14 billion in 2023, potentially reaching $46 billion by 2036, representing a compound annual growth rate (CAGR) of 10% from 2024 to 2036 [4]. Summary by Sections Industry Investment Rating - The report maintains an "Outperform" rating for the industry [6]. Automotive Intelligence Development - The automotive market is becoming increasingly competitive, with smart driving as a focal point for major manufacturers [3]. - The penetration rates for smart driving technologies are expected to rise significantly by 2025, with L1/L2 at 60% and L2+/L3 at 20% [3][4]. Vehicle-Mounted Camera Market - The demand for vehicle-mounted cameras is projected to grow as the automotive industry embraces smart technologies [4]. - The global vehicle-mounted camera market is estimated to be around $14 billion in 2023, with expectations to reach $46 billion by 2036, indicating a CAGR of 10% from 2024 to 2036 [4]. Investment Recommendations - The report suggests focusing on companies such as Jingfang Technology, Weir Shares, Sitaiwei, GeKomei, LianChuang Electronics, OFILM, Baolong Technology, and Sunny Optical [4].