According to a research report by CITIC Securities, the smart imaging device market is increasingly emphasizing the fusion of "portability and intelligence." In 2023, the global market for panoramic and action cameras is poised to reach nearly 40 billion, with projections of a continued expansion at a compound annual growth rate of 10% to 15% from 2023 to 2027, fueled by the surge in short video content and outdoor sports activities. From a market standpoint, local manufacturers have made significant strides, securing top-three positions globally thanks to their robust product capabilities and continuous product innovation. Shifting focus to the supply chain, optical components and DSP/SOC are pivotal components in smart imaging devices, accounting for over 50% of the total cost. Additionally, the significance of AI and other software algorithms is on the rise. CITIC Securities expresses optimism about the growth trajectory of the local smart imaging device industry and advises investors to keep a close eye on leading panoramic and action camera companies, along with optical lens and module suppliers.