The ex-Bianconeri ace feels the forward's departure marks an end of an era for the Serie A champions, but nonetheless expects the club to remain on a successful path
The legendary attacker, now 37, is currently unattached after Bianconeri officials decided against extending his contract, which expired at the end of last season.
Davids, who played alongside Del Piero during his seven-year stint at Juventus between 1997 and 2004, is in no doubt that the Italian's departure is a significant blow for the Serie A champions.
"Juve will miss Del Piero, it will not be the same without him," the Dutchman told Sky Sport Italia. "But life goes on, and I am sure that both will do well in the future."
The Old Lady have been very busy in the transfer market this summer as they prepare to mount a serious bid for the Champions League next season, and Davids warned his former side against getting carried away with their recent success.
"Juventus must always improve, next year they should make a great campaign in the Champions League," the retired midfielder added.
"But signing great players does not always mean that you will be successful.
"Juve's strength is not based on individual players, it has always been based on the team."