The databus market is expected to reach US$ 25,258. 0 million by 2028 from US$ 18,488. 9 million in 2021; it is estimated to grow at a CAGR of 4. 6% from 2021 to 2028. The overall market has been segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South and Central America.
New York, April 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Data Bus Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component, Protocol, and Application" - https://www.reportlinker.com/p06269988/?utm_source=GNW
North America is expected to hold the largest share of the data bus market in the coming years as it includes a few of the world’s fastest-growing and leading economies.
The North America databus market is segmented into the US, Canada, and Mexico. The growth of the databus market in North America can be attributed to the flourishing electric vehicles (EV) industry, in line with the increasing environmental regulations and green initiatives.
The databus market in Europe is further segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. Factors such as high GDP and GDP per capita, favorable economic policies, acceptance toward new technologies, and robust transportation infrastructure have led to the proliferation of the automotive, aerospace, and marine industries in Europe, thereby providing growth opportunities for the databus market players.
The databus 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.
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 databus market in this region.
The databus market has been segmented and analyzed based on component, protocol, and application.Based on component, the databus market is further segmented into hardware and software.
In terms of protocol, the databus market is segmented into ARINC 429/629, MIL–STD-1553, and others. Based on application, the databus market is further segmented into automotive, marine, commercial aviation, and military aviation.
Automotive electronics—such as airbags, electronic fuel injection, infotainment systems, and electronic fuel injection—are primarily employed in automobiles to improve vehicles’ overall feel and efficiency.Radio, ignition, engine management, carputers, telematics, and in-car entertainment systems are other electronic-dependent components embedded in automobiles.
Government restrictions and regulations such as Bharat Stage-VI (BS-VI) and Corporate Average Fuel Efficiency II (CAFE II) are also contributing to the inclusion of an increasing number of electronics in vehicles. The demand for cutting-edge infotainment systems in automobiles is growing with a surge in the number of road accidents, which triggers safety concerns among people and drives their attention toward incorporating active safety systems in their automobiles.
The demand for electronics in vehicles is likely to increase further with the growing trend of autonomy and manufacturers’ emphasis on vehicle quality and security.As a result, consumers need to secure their data.
Modern technologies such as artificial intelligence (AI) and machine learning (ML) that help automotive companies to automate many operations of their automobiles will have a significant impact on the automobile industry.Users may utilize AI and ML to verify the state of vehicles’ engines and monitor their temperature.
Artificial intelligence also has the potential to improve consumer safety and security.Many third-party stakeholders in the automotive electronics market, such as Android and Google, are already working on solutions to improve the user experience in smart cars.
Android Auto is allowing users to stay connected while driving. It can use voice commands for performing various tasks. Thus, the electrification of automobiles necessitates the use of data bus systems in these vehicles to enable faster communication between electronic devices and modules in vehicles while reducing the amount of wiring. The factor mentioned above is driving the databus market.
Astronics Corporation, Collins Aerospace, Fujikura Ltd., HUBER+SUHNER, Nexans, TE Connectivity Corporation, Amphenol Ltd., Data Device Corporation, Data Bus Corporation, and OCC are among the key players operating in the global databus market.
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