There are many kinds of electrical and electronic circuits that require protection. In some of these circuits, it is important to protect against temporary or transient current increases. Sometimes the device being protected is very sensitive to current and cannot withstand an increase in current. In these cases, a fuse must open very quickly if the current increases.
Some other circuits and devices have a large current for short periods and a normal (smaller) current most of the time. An electric motor, for instance, will draw a large current when the motor starts, but normal operating current for the motor will be much smaller. A fuse used to protect a motor would have to allow for this large temporary current, but would open if the large current were to continue.
Fuses are time delay rated to indicate the relationship between the current through the fuse and the time it takes for the fuse to open. The three time delay ratings are delay, standard, and fast.