Newark, NJ, May 17, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The Global Optical Fiber Fusion Splicer Market is expected to grow from USD 625.92 Million in 2019 to USD 865.70 Million by 2027, at a CAGR of 4.14% during the forecast period 2020-2027. Asia Pacific held the largest market value of USD 278.91 million in 2019. This owes to the increasing number of smartphones, penetration of internet, growing number of tech-savvy people, and telecommunication companies are emphasizing much more on data as their selling point.
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The market for Optical Fiber Fusion Splicer market is segmented into key players. Major Player includes SEI, Fujikura, Furukawn, ILSINTECH, INNO, and others. In December 2019, Fujikura launched 90S core alignment fusion splicer, and this enables the user to work faster and with high precision. This expanded the product portfolio of the organization and also would increase the customer base.
The market has been segmented on the basis of type, application, and region. The type segment includes a single fiber fusion splicer, ribbon fiber fusion splicer, and special fiber fusion splicer. The single fiber fusion splicer segment held the largest market value of USD 327.04 million in 2019 owing to the demand for bandwidth growth by the network operator, which led to the demand for extensive network upgrades and deployments. The application segment includes CATV, Telecom, Premises & Enterprise, Military, and Others. Telecom Industry held the largest market value of USD 340.25 million in 2019. This is for the fact that the telecom industry has shifted from voice domination to the data market. They are focusing more on data as their selling point.
The increase in internet penetration, the rise in tech-savvy people with an increase in the number of people on Facebook, Whatsapp, Twitter, and Instagram are requiring the need for faster internet, which drives the demand for more bandwidths. This, in turn, drives the optical fiber fusion splicer market. The shifting trend by the telecommunication industry to focus more on data in their marketing strategy and the advent of 5G network are some of the factors driving the optical fusion splicer market. However, the expensiveness of the optical fiber fusion splicers acts as major restraint.
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About the report:
The global Optical Fiber Fusion Splicer market is analysed on the basis of value (USD Million). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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