FII(SH:601138)2026-01-08 02:43Summary of Datacenter Market Insights - ODM Direct Industry Overview - The report focuses on the Datacenter Market within the Hardware Technology sector, specifically analyzing ODM (Original Design Manufacturer) direct server shipments in the Asia Pacific region. Key Insights 1. ODM Shipments and Value Growth - ODM shipments declined by 4% quarter-over-quarter (q/q) but the shipment value increased by 2% q/q due to growth in both general and AI servers [1][2] - The expected shipments for GB200/300 racks are projected to reach approximately 27.3k in CY25 and 70k+ in CY26 [1][5] 2. Global ODM Direct Server Shipments - Total global ODM direct server shipments were 1.83 million units in 3Q25, reflecting a 4% decline q/q but a 37% increase year-over-year (y/y) [2] - This accounted for 43.5% of global server shipments, which remained flat at 4.2 million units q/q but increased by 14% y/y [2] 3. Market Share Dynamics - Inventec became the top ODM with a 24.6% market share, gaining 480 basis points (bps) q/q, while Wiwynn dropped to 20.4% [2][12] - Intel and AMD both lost unit share, with Intel at 35.1% (-300 bps q/q) and AMD at 40.3% (-390 bps q/q) [3][12] 4. Regional Performance - Central & Eastern Europe exhibited the highest growth in shipment units at 449% y/y, followed by the US at 50% y/y [4][12] - The US accounted for 75% of aggregate ODM direct shipments, with other regions like APxJC at 13% and Western Europe at 6% [4] 5. AI Server Contribution - AI servers were the main contributors to the increase in shipment value, with the average selling price (ASP) of ODM servers increasing by 7% q/q and 54% y/y [5] Additional Insights - ODM Shipment Value reached US$66.8 billion in 3Q25, marking a 2% increase q/q and a 111% increase y/y [2] - The report highlights potential investment opportunities in ODMs such as Wistron, Wiwynn, Hon Hai, FII, and Quanta [5] Conclusion - The ODM direct server market is experiencing a complex landscape with declining unit shipments but increasing value, driven primarily by the growth of AI servers. The competitive dynamics are shifting, with new leaders emerging in market share and significant regional disparities in growth rates.