Guohai Securities·2025-06-24 11:01Investment Rating - The report maintains a "Recommended" rating for the computer industry [4] Core Insights - The era of autonomous driving is approaching, establishing the core position of domain controllers in automotive systems. Traditional distributed control systems face challenges such as high complexity and development costs, leading manufacturers to consolidate multiple functions into a single controller [11][30] - The smart driving and smart cockpit domain controllers are entering a period of accelerated installation, with significant growth expected in market penetration rates for advanced driver-assistance systems (ADAS) and smart cockpit technologies [12][70] - The hardware architecture of domain controllers is centered around high-performance System on Chips (SoCs), which are becoming the mainstream in automotive chip design due to their ability to handle increasing computational demands as autonomous driving levels rise [13][87] Summary by Sections 1. Domain Controller Overview - The automotive architecture is evolving from distributed to centralized systems, necessitating the use of domain controllers to enhance system integration and performance [1.1][1.2] - The domain controller architecture consists of hardware, system software, algorithms, and application software, with a collaborative development model being the mainstream [1.3][3.1] 2. Smart Driving and Smart Cockpit Domain Controllers - The smart driving domain controller is crucial for processing data from various sensors, with projected penetration rates for L2 and L2++ ADAS expected to reach 36.8% and 7.3% by 2024 [12][52] - The global market for smart driving domain controllers was valued at 16.5 billion in 2022 and is expected to grow to 115.4 billion by 2026, with a compound annual growth rate (CAGR) of 62.6% [56] - The smart cockpit domain controller market is also set for rapid growth, with the global market expected to reach 4.296 trillion by 2025 [68][70] 3. Domain Controller Hardware Architecture - The hardware architecture of domain controllers includes communication, computation, and storage units, with SoCs playing a pivotal role in meeting the increasing computational requirements for higher levels of autonomous driving [3.1][81] - The trend towards "one chip, multiple functions" is evident in cockpit chip designs, which aim to reduce complexity and improve performance [3.2][92] 4. Investment Recommendations - The ongoing commercialization of the smart driving industry and the increasing penetration rates of smart driving and smart cockpit technologies are expected to drive the domain controller hardware and software supply chain into a rapid development phase [15][16]