Davis, Tampa Bay's most experienced cornerback, did not practice all week before being ruled out Friday.
Second-year cornerback Zyon McCollum, who got in a lot of reps in training camp with the first-team defense, will step into Davis' role.
"He's ready to play. We've got all the confidence in the world in him," Bowles said of McCollum. "He had a great summer, he had a great spring. He's practicing [well]. We don't have a problem playing him."
Bowles did say he is hopeful that starting nickelback Christian Izien, a rookie who had a touchdown-saving interception in last week's 20-17 win at the Minnesota Vikings, can play Sunday. Izien is in the concussion protocol and Bowles said he still had some tests to clear, but he returned to practice in a limited capacity Thursday before being a full participant Friday.