Abstract: Multi-agent collaborative perception enhances perceptual capabilities by utilizing information from multiple agents and is considered a fundamental solution to the problem of weak single-vehicle perception in autonomous driving. However, existing collaborative perception methods face a dilemma between communication efficiency and perception accuracy. To address this issue, we propose a novel communication-efficient collaborative perception framework based on supply-demand awareness and intermediate-late hybridization, dubbed as $\texttt{CoSDH}$. By modeling the supply-demand relationship between agents, the framework refines the selection of collaboration regions, reducing unnecessary communication cost while maintaining accuracy. In addition, we innovatively introduce the intermediate-late hybrid collaboration mode, where late-stage collaboration compensates for the performance degradation in collaborative perception under low communication bandwidth. Extensive experiments on multiple datasets, including both simulated and real-world scenarios, demonstrate that $\texttt{CoSDH}$ achieves state-of-the-art detection accuracy and optimal bandwidth trade-offs, delivering superior detection precision under real communication bandwidths, thus proving its effectiveness and practical applicability. The code and model will be publicly available.