Fusion Splicer Market: Need for Enlarged Bandwidth to Create Avenues of Growth
In today’s day and age, our lives are highly dependent on ‘hyperconnectivity’, be it a person-to-person, person-to-machine, or machine to machine connection. With hyperconnectivity being the buzzword, there has been a surge in the adoption of cloud-based infrastructure, which essentially demands enlarged bandwidth of fiber optic cabling. Such strides towards data-intensive services have strengthened the roots of the fusion splicer market. To make a mark in the converging multibillion-dollar information industry, players in the telecommunication sector are beefing up their networks using fusion splicing techniques.
With the convergence of voice, video, and data networks, and high FTTH (fiber-to-the-home) deployments, there is an increasing amount of optical fiber being fusion spliced. Fusion-splicer is rapidly becoming the must-have tool for almost all industries, including, telecommunications, aerospace and defense, energy, medical, and others. The mounting demand for high-bandwidth network and optical fiber gaining center stage in almost every networked organization warrants the need for exhaustive research to understand the dynamics of the fusion splicer market. In its latest offering, Transparency Market Research (TMR) details out the trends and transitions in consumer behavior that will help stakeholders take well-informed business-related decisions.
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Evolutionary Timeline of the Fusion Splicer Market
There has been incessant progression in optical fiber network construction. With innovations spawning in the arena of fiber optics, ‘fusion splicing’ gradually became the new business adage, being one of the most economical and fastest methods for field termination. The industry is graduating its way to progress with upgrades in optical communication technology and advancements in gaming-on-demand, video on demand, and digital video recorder networks.
Furthermore, shifts in consumer preferences from mechanical splicing to fusion splicing have transcended the industry’s growth. However, the high costs associated with fusion splicing devices and the need for continuous power supply may drive consumers away. Although this is a long-standing challenge for the market, it opens new growth opportunities, especially for new market entrants, where they can proliferate the global market by launching competitively-priced products.
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Competition Landscape to Remain Fragmented
The global fusion splicer market features a highly fragmented vendor landscape, with the presence of numerous established companies and the emergence of new players. In 2018, emerging players accounted for ~ 52% of the market share, whereas, prominent and leading players held ~ 22% and ~ 25% of the market share, respectively. Leading companies in the fusion splicer market include Sumitomo Electric Industries, China Electronics Technology Group Corporation, Furukawa Electric, and Fujikura Ltd.
Apart from these strategies, companies are also focusing on acquiring quality assurance certificates to instill faith in customers and enhance the credibility of their products. For instance, Nanjing Jilong Optical Communication Co. LTD has obtained quality assurance certificates such as Great Wall Quality Assurance Center ISO9001 quality system certification, OHS18001 occupational health and safety, and ISO14001 environmental management system certification.
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Key Winning Imperatives
Sensing the high demand for fusion splicers across various industry verticals, players are laying high focus on increasing their product offerings of innovative products to enhance their market reach and sales revenues.
Furthermore, gauging the rising consumer inclination towards innovative and technologically-advanced products, companies are striving to strengthen their technological capabilities. They are doing so through cooperation agreements with leading enterprises, research institutes, and companies. For instance, China Electronics Technology Group Corporation signed a strategic cooperation agreement with Southeast University for cooperation in scientific researches and technological innovation.