As the communication requirements of current and future Multiprocessor Systems on Chips (MPSoCs) continue to increase, scalable communication architectures are needed to support the heavy communication demands of the system. This is reflected in the recent trend that many of the standard bus products such as STbus, have now introduced the capability of designing a crossbar with multiple buses operating in parallel. The crossbar configuration should be designed to closely match the application traffic characteristics and performance requirements. In this work we address this issue of application-specific design of optimal crossbar (using STbus crossbar architecture), satisfying the performance requirements of the application and optimal binding of cores onto the crossbar resources. We present a simulation based design approach that is based on analysis of actual traffic trace of the application, considering local variations in traffic rates, temporal overlap among traffic streams and criticality of traffic streams. Our methodology is applied to several MPSoC designs and the resulting crossbar platforms are validated for performance by cycle-accurate SystemC simulation of the designs. The experimental case studies show large reduction in packet latencies (up to 7×) and large crossbar component savings (up to 3.5×) compared to traditional design approaches.