Market Trends of Fusion Splicer Industry
This section covers the major market trends shaping the Fusion Splicer Market according to our research experts:
Telecom and Enterprise Application to Continue Dominating the Market
- Experiencing a high market demand for the fusion splicers across Telecom and enterprise industry verticals, market players are setting a large focus on building their product offerings of advanced products for the objective of intensifying their market reach and the sales revenues. This selective perspective of the fusion splicer market has considerably stimulated the decision of companies to expand the company’s product offerings.
- The telecom industry is mounting growth at a steady pace as well. Telecom accounts for the majority of the market’s revenue with a market share of almost 65% in regions like APAC (GAO Tek & GAO Group Inc). The primary use of the fusion splicer market in the telecommunications sector is in the installation of fiber-optic aerial cables outside plants or fuse fibers in underground cable installations.
- Telecommunications companies invest in fusion splicing for their long haul single-mode networks. Additionally, assessing the growing consumer preference towards innovative and technologically superior and advanced products, enterprises are firm to strengthen their technological abilities. Businesses are performing so through cooperation contracts with the principal enterprises, firms.
Asia Pacific to Register the Fastest Growth
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Asia Pacific is forecasted to expand at the highest CAGR during the forecast period. APAC market growth can be attributed to numerous initiatives by governments in the region and many principal players in the fusion splicer ecosystem who are contributing more to the idea of upgrading and growing the fiber-optic network, thereby prompting the increased adoption of the fusion splicers. The “Greater China Region” (Mainland China, Macau, Hong Kong, and Taiwan) is anticipated to remain the dominant user of fusion splicers in the Asia Pacific region (APAC).
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The APAC region is anticipated to grow in relative market share, driven by nations expanding the reach and density capabilities of their mobile/wireless device (optical fiber) infrastructure, as well as taking optical fiber closer to the drop-areas, such fiber to the building. For instance, in the month of February 2019, Furukawa Electric Co., Ltd launched the FITEL s185 series of fusion splicers. This series is extra compact and splicers are more effective which are being specifically designed for splicing the special optical fibers that are being utilized in the optical components, fiber lasers, and optical sensors.
