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Data Bus Market Worth $19.47 Billion by 2021 - Key Players are Amphenol Corporation, Corning & Data Device Corporation - Research and Markets

[September 28, 2016]

Data Bus Market Worth $19.47 Billion by 2021 - Key Players are Amphenol Corporation, Corning & Data Device Corporation - Research and Markets

Research and Markets has announced the addition of the "Data Bus Market by Protocol, Application, Component, and Region - Global Forecast to 2021" report to their offering.

The data bus market is projected to grow from USD 15.70 billion in 2016 to USD 19.47 billion by 2021. The 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.

North America will acount for a large share of the data bus market. 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 (News - Alert) 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.

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