Report Forecast:
The Data Bus Market was estimated at US$ 17.5 Billion in 2021 and is expected to grow at a CAGR of 4.3% during 2022-2028 to reach US$ ~21.3 billion in 2028. The internal memory path created for data transfer is referred to as the "data bus." A computer's internal connector called a "data bus" enables the transfer of data. Data buses have grown into a variety of different forms in personal computers and other hardware. The data bus is frequently employed in numerous fields, including those of automotive, marine, military, and commercial aircraft. The likelihood of accidents caused by pilot error can be decreased through ongoing upgrading of military aircraft, which can also improve mission capability and situational awareness.
The market's growth is influenced by several factors that have a significant or indirect impact on demand. An overview of such factors can be found in our report, which is derived utilizing SWOT analysis, industry life cycle, and supply chain analysis. Such key information can help market participants and investors identify the low-hanging fruits in the market and establish strategic initiatives to accelerate their growth.
COVID-19 IMPACT on the Market-
The COVID-19 pandemic has influenced almost all the industries, little or large, dealing in any sector.
The growth curves of Data Bus Market have witnessed enormous ebb and flows in the year 2020. The market scenario and the pace of growth have taken a huge turn and have prompted numerous adjustments in the cycles. 2021 is probably going to be superior to 2020 for the Data Bus market players as the greater part of the organizations have continued their activities and the interest is getting re-established for them.
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Data Bus Market Segmentation:
The report segments based upon demographics, geographics, benefits and volume etc, has different leading factors and identifies the most-attractive segments and sub-segments. The market segmentation will not only help marketers to be more efficient in terms of time, money and other resources but also allows companies to learn about their target audience so that they can tailor campaigns that leads a roadmap to success.
The Data Bus Market is segmented into the following categories.
Based on protocol, the data bus market has been divided into ARINC 429/629, CAN, TTP, AFDX/ARINC 429/629, and MIL-STD-1553. In 2020, the market is anticipated to be led by the ARINC 429/629 category. The use of these protocols in important applications, namely marine and aviation, to achieve high accuracy, can be credited for this growth.
During the anticipated period, the marine application segment is anticipated to dominate the data bus market. Due to the upgrading of obsolete military naval systems—which entails integrating new technology into the current naval systems—it is anticipated to have the highest proportion of the market. As it connects all on-board computers and sensors, the data bus plays a crucial role in naval systems.
Region
North America is likely to maintain its supremacy in the Data Bus Market throughout the forecast period. Due to environmental legislation and green efforts, the electric car sector has expanded, which has contributed to the market expansion in North America. These investments are intended to improve the defence and surveillance capabilities of the armed forces.
The economies of the U.S. and the U.K. are slowing down. Defense funding has been significantly cut by the American government. The US Department of Defense estimates that in 2018, the US accounted for all but USD 650 billion of global defence spending. Along with the United Kingdom and the United States, the European Union is considering cutting its defence spending as it emerges from an economic crisis. A data bus's lifespan ranges from 35 to 45 years, after which time it is updated.
Concurrently, the Data Bus Market in the Asia Pacific is anticipated to expand at the highest CAGR during the forecast period. Furthermore, two good tendencies in this region are market expansion and strong profitability. Emerging markets with respectable growth rates include the Middle East and South America. To stop the demand for Data Bus in South America and the Middle East, a protection system is required.
The Cornerstones in the market-
Listed below are the top key players that dominate the Data Bus market –
- TE Connectivity (Switzerland)
- Pipavav (India)
- Volkswagen (Germany)
- Amphenol Corporations (U.S.)
- Fujikura Ltd. (Japan)
- Volvo (Sweden)
- Corning Inc. (U.S.)
- Airbus (France)
- Boeing (U.S.)
- Newport News Shipbuilding (U.S.)
- Ball Corporation (US)
- Honeywell International Inc. (US)
- Lockheed Martin Corporation (US)
- Maxar Technologies Ltd. (US)
- Mitsubishi Electric Corporation (Japan)
- Northrop Grumman Corporation (US)
- Sierra Nevada Corporation (US)
- Thales Group (France)
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- SWOT analysis of key market players (up to 3 players)
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