The Worldwide Data Bus Industry is Expected to Reach $25 Billion by 2028 - ResearchAndMarkets.com

The US is the second-largest automotive market globally, which is a major factor contributing to the data bus market growth.

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Thursday, May 12, 2022
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Tags: 
Technology, Hardware, Data Management, Automotive industry, Volkswagen, Employment, National Steel and Shipbuilding Company, Brunswick Corporation, Tesla, Hyundai, Electronics, MRO, Government, VW, GDP, COVID-19, General Dynamics, Grumman, General Motors, Industry, MEA, EVS, Time, Hyco International Inc, Dodge, Renault, EV, SAM, Oceaneering International, Adoption, CAGR, National Steel, Growth, Application, Ford Motor Company, Peugeot, Component, African, Motor vehicle, Weapon, EU
Geotags: 
VIETNAM, MIDDLE EAST, EUROPE, NORTH AMERICA, SOUTH AFRICA, INDIA, US, MALAYSIA, UAE, JAPAN, CHEVROLET, AUSTRALIA, BRAZIL, TOYOTA, HONDA, NORTHROP, CHINA, ARGENTINA, SAUDI ARABIA, ASIA, SOUTH AMERICA
Summary
Key Points: 
  • The US is the second-largest automotive market globally, which is a major factor contributing to the data bus market growth.
  • Thus, with the growing adoption of EVs, automotive manufacturers are increasingly emphasizing the development of their EV platforms, which is driving the data bus market.
  • The European electronics manufacturers, including data bus market players, observed tough times to supply their products adequately to respective customers.
  • The data bus market in Asia Pacific is segmented into China, Japan, Australia, India, South Korea, and the Rest of Asia Pacific.


The "Data Bus Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component, Protocol and Application" report has been added to ResearchAndMarkets.com's offering.

According to this report the market is projected to reach US$ 25,258.0 million by 2028 from US$ 18,488.9 million in 2021; it is expected to grow at a CAGR of 4.6% from 2021 to 2028.

Automotive is one of the major industries in North America. The US is the second-largest automotive market globally, which is a major factor contributing to the data bus market growth. Companies such as Ford, General Motors, Chevrolet, Dodge, VW, Toyota, Tesla, Honda, Hyundai, and Renault have numerous manufacturing facilities in the region. In December 2021, the government of the US announced its goal to phase out gas-powered vehicles by 2035. In November 2021, it announced the allocation of US$ 7.5 billion for boosting electric vehicles (EV) charging infrastructure.

Thus, with the growing adoption of EVs, automotive manufacturers are increasingly emphasizing the development of their EV platforms, which is driving the data bus market. Further, the presence of shipbuilding giants such as General Dynamics Corporation; Huntington Ingalls Industries, Inc.; Brunswick Corporation; Northrop Grumman; Arcosa, Inc.; Oceaneering International Inc; Brp US Inc.; and National Steel & Shipbuilding Company is contributing to the data market growth in the region. Meanwhile, North America has the largest aviation industry, characterized by the presence of various military and commercial aircraft manufacturers and MRO service providers, which is among other factors driving the data bus market.

With the COVID-19 outbreak, commercial and military aviation production and sales came to a sudden halt in most of Europe. The collapse of the demand side severely impacted the EU aerospace sector, thereby putting the economies in deep crisis and reducing international trade, negatively affecting the data bus market. The air transport sector plays an important role in economic growth and employment in many European countries, which were strongly impacted by supply chain disruptions and technological challenges.

The European electronics manufacturers, including data bus market players, observed tough times to supply their products adequately to respective customers. This was majorly due to the significant disruption in the raw material supply chain business. The electronic component manufacturers are witnessing two or more weeks of delay in receiving raw materials, which is pressuring the manufacturers to slow down the production pace, showcasing the decline in revenue generation.

Key Findings of Study:

The data bus market in Asia Pacific is segmented into China, Japan, Australia, India, South Korea, and the Rest of Asia Pacific. Asia Pacific is characterized by the presence of developed nations, including Japan and Australia, along with emerging countries, such as China, India, Vietnam, and Malaysia. The rise in GDP, increase in foreign direct investment & foreign institutional investment, large-scale industrialization, and rise in the standard of living propel the growth of the data bus market in this region. The data bus market in the Middle East & Africa is segmented into the UAE, Saudi Arabia, South Africa, and the Rest of MEA. A few of the countries in the Middle East are highly advanced economies, while the African countries are still in developing phases.

The data bus market in South America is segmented into Brazil, Argentina, and the Rest of SAM. South America is currently facing economic and political instability, which is hampering the region's economic growth. The region has the presence of prominent automakers - including General Motors, Volkswagen, Hyundai, Ford, Toyota, Peugeot, and Renault - which are contributing to the growth of the data bus market in South America.

Reasons to Buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global data bus market
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  • The key findings and recommendations highlight crucial progressive industry trends in the global data bus market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Market Dynamics

Drivers

  • Ongoing Modernization in Military Aviation
  • Electrification in Automotive Sector

Restraints

  • Problems Pertaining to Serial Data bus

Opportunities

  • Increasing Demand for New Aircraft in Asia-Pacific Countries

Future Trends

  • High Performance Data Buses

Companies Mentioned

  • Astronics Corporation
  • Amphenol Ltd.
  • Collins Aerospace
  • Data Device Corporation
  • Data Bus Products Corporation
  • Fujikura Ltd.
  • Huber+Suhner
  • Nexans
  • TE Connectivity
  • OCC

For more information about this report visit https://www.researchandmarkets.com/r/usj0ry

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