Data Bus Market by Protocol, Application, Component, and Region - Global Forecast to 2021

LONDON, Sept. 28, 2016 /PRNewswire/ -- "The data bus market is projected to grow at a CAGR of 4.05% during the forecast period"

The data bus market is projected to grow from USD 15.70 billion in 2016 to USD 19.47 billion by 2021, at a CAGR of 4.41% during the forecast period. The data bus market is predominantly driven by factors, such as rise in the number of aircraft deliveries, increase in passenger car orders, upgradation of airborne and naval programs, and need to reduce Swap specifications, among others. Developed countries, such as the U.S. and the U.K. have trimmed their defense budgets, which has hampered acquisition, and research and development in various applications. The average life cycle of a data bus varies from 35 years – 45 years, after which, a data bus is upgraded. The long product life cycle of a data bus restrains the growth of the market, as it reduces the chances of replacement of data bus with new systems.

"Based on protocol, the CAN segment of the data bus market is projected to grow at the highest CAGR during the forecast period"
Based on protocol, the CAN segment of the data bus market is expected to grow at the highest CAGR during the forecast period. This high growth rate of the CAN segment can be attributed to low complexity systems, owing to a single channel bus with arbitration method for bus access. The segment is expected to witness significant growth in the next five years, as aircraft manufacturers, such as Airbus and Boeing are using CAN protocol in their aircraft to achieve high accuracy rate.

"Based on application, the marine segment of the data bus market is estimated to account for the largest market share during the forecast period"
Based on application, the marine segment is expected to account for the largest share of the data bus market during the forecast period. The marine segment includes military ships, general cargo, container ship, crude oil ships and passenger ships, and bulk carrier, among others. According to the International Chamber of Shipping (ICS), around 90% of the world trade, which includes import and export of goods, is carried out by the international shipping industry. Rise in demand for merchant and navy ships is driving the marine segment of the data bus market.

"North America to account for a large share of the data bus market. In addition, Asia-Pacific is projected to grow at the fastest rate during the forecast period"
North America is expected to lead the data bus market during theforecast period. Countries in the region include the U.S. and Canada. The North America data bus market is driven by a large number of original component manufacturers (OCMs) and original equipment manufacturers (OEMs), major technological upgradation of existing equipment by key players, and the presence of key market players, such as Amphenol Corporation (U.S.), Corning Inc. (U.S.), and Data Device Corporation (U.S.). Additionally, huge investment by the U.S. Navy and Air Force in procuring and developing technologically advanced aircraft and ships is also fueling the growth of the data bus market. In the Asia-Pacific region, India has developed indigenous naval systems, such as INS Kamorata, INS Kadmat, INS Arihant, INS Vikramaditya, and INS Vikrant, among others, that use data bus. This is expected to fuel the growth of the data bus market. In addition, increase in sales of electric vehicles is anticipated to propel the growth of the data bus market in the region.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/data-bus-market-by-protocol-application-component-and-region---global-forecast-to-2021-300336149.html

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