According to the latest report by IMARC Group titled, “Automotive Infotainment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global automotive infotainment market size reached US$ 18.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 29.4 Billion by 2028, exhibiting a growth rate (CAGR) of 8.35% during 2023-2028.
Automotive infotainment refers to hardware and software systems that are integrated into vehicles to deliver information, connectivity, and entertainment to the driver and passengers. It includes dashboard clusters, touchscreen displays, button panels, audio or video (A/V) interfaces, keypads, and text-to-speech and voice recognition systems. It relies on satellite reception technology, radio data system (RDS), active noise reduction systems, Global Positioning System (GPS), and telematics. It offers advanced features, such as automotive navigation systems, video and audio players, universal serial bus (USB), Bluetooth connectivity, and smartphone integration for enhanced communication and connectivity. It provides audio control and call-pickup functionality to ensure a smoother operation and minimal distraction of the driver. As automotive infotainment systems are currently available in sophisticated designs and innovative technologies, they are widely installed in passenger as well as commercial vehicles across the globe.
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Market Trends
At present, rapid urbanization, improving road networks, and inflating income levels are among the key factors positively influencing the market. The shifting consumer preference toward self-driving vehicles due to the growing global population and massive crowd in public vehicles is driving the market. In addition, rising number of vehicle collisions on roads as well as in parking areas is increasing the need for automotive infotainment systems with parking assistance control facilities. Modern cars incorporate safety measures, such as lane assistance, emergency braking, and enhanced accessibility services for enhanced comfort. The integration of navigation and vehicle control units in automobiles aids in minimizing the response time during emergencies, thereby reducing the risk of accidents. Moreover, the widespread adoption of smartphones is propelling manufacturers to integrate infotainment systems and facilitate wireless fidelity (Wi-Fi) connectivity, interactive voice recognition systems, and live media streaming, which is creating a positive market outlook.
In addition, key players are introducing various technological advancements in infotainment devices, such as automatic system updates, high-speed processing, high definition (HD) video quality, and connectivity with 5G networks. This, along with their rising focus on increasing product innovations to expand their consumer base and overall sales and profits, is currently driving the market. Apart from this, the continuous upgradation of smart sensors and detailed mapping software to help infotainment systems execute more accurately in various conditions is creating a favorable market outlook. Furthermore, increasing investments in research and development (R&D) activities by key players on enhancing the safety and comfort level of passengers are anticipated to drive the market in the coming years.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- AISIN SEIKI CO (ASEKY)
- CONTINENTAL AG O.N. (CON.DE)
- CLARION CO. LTD (XCN.F)
- DENSO Corporation (DNZOY)
- Garmin Ltd. (GRMN)
- Harman International Industries Inc (NYSE: HAR ) (Samsung Electronics) Magneti Marelli S.p.A.
- Panasonic Corporation
- Pioneer Corporation
- Robert Bosch GmbH
- Aptiv
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The report has segmented the market on the basis of Product Type, Vehicle Type, Sales Channel, Technology, and Region.
Breakup by Product Type:
- Navigation Unit
- Display Audio
- Audio
- Others
Breakup by Vehicle Type:
- Passenger Cars
- Commercial Vehicles
Breakup by Operating System:
- QNX
- LINUX
- Microsoft
- Others
Breakup by Installation Type:
- In-Dash Infotainment
- Rear Seat Infotainment
Breakup by Sales Channel:
- OEM
- Aftermarket
Breakup by Technology:
- Integrated
- Embedded
- Tethered
Breakup by Connectivity:
- Bluetooth
- Wi-Fi
- 3G
- 4G
- 5G
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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Absorption Costing MCQs with Answers Explanation Engineering ECE
What Is Absorption Costing?
Absorption costing, also known as the all-encompassing, all-inclusive, or comprehensive costing method, is a sophisticated and perplexing managerial accounting framework that attempts to incorporate all expenses that are linked to the production of a particular product. This method is highly intricate and involves a copious amount of calculations and analyses to arrive at the total cost of production.
Every minuscule expense, whether direct or indirect, such as raw materials, labor, rent, utilities, depreciation, maintenance, insurance, and every other associated cost, is taken into account to determine the total cost of the product. The complexity of this method is staggering, and it requires extensive knowledge of accounting principles, an understanding of manufacturing processes, and advanced analytical skills to execute.
However, despite its complexity, absorption costing is still widely used in the industry due to its comprehensive approach to providing an accurate picture of the cost of production. Moreover, under the generally accepted accounting principles (GAAP) in the United States, absorption costing is an approved method for external reporting. In contrast, variable costing is prohibited, adding to the confusion and perplexity surrounding this topic.
Which of the following costs would NOT be included in the cost of goods sold calculation under absorption costing?
a) Direct materials
b) Direct labor
c) Variable manufacturing overhead
d) Fixed manufacturing overhead
Answer: c) Variable manufacturing overhead
Explanation: Under absorption costing, both fixed and variable manufacturing overhead costs are included in the cost of goods sold calculation. Direct materials and direct labor costs are also included.
When production exceeds sales, absorption costing will result in:
a) Higher net income than variable costing
b) Lower net income than variable costing
c) The same net income as variable costing
d) None of the above
Answer: a) Higher net income than variable costing
Explanation: When production exceeds sales, there will be more fixed manufacturing overhead costs that are absorbed into the cost of goods sold calculation under absorption costing. This results in a higher net income compared to variable costing, which only includes variable manufacturing costs in the cost of goods sold calculation.
Which of the following statements is true about absorption costing?
a) It is used for external reporting purposes
b) It is used for internal decision-making purposes
c) It is the same as variable costing
d) None of the above
Answer: a) It is used for external reporting purposes
Explanation: Absorption costing is required for external financial reporting purposes, such as on the income statement and in financial statements. Variable costing, on the other hand, is often used for internal decision-making purposes.
In a period of increasing production and sales, absorption costing will result in:
a) Higher net income than variable costing
b) Lower net income than variable costing
c) The same net income as variable costing
d) None of the above
Answer: c) The same net income as variable costing
Explanation: When production and sales increase, absorption costing and variable costing will result in the same net income. This is because there will be fewer fixed manufacturing overhead costs per unit under absorption costing, but there will also be more units sold.
