Thanks for your interest in our latest research. You can view a summary of our latest report below.

Carrier-Neutral Network Operators: 4Q22 Market Review

This interactive spreadsheet model is a detailed financial and operational review of the carrier-neutral network operator (CNNO) market for the 2011-2022 period. This report tracks 47 CNNOs across the globe, including 10 focused primarily on bandwidth/fiber infrastructure, 16 data center specialists, and 21 tower CNNOs. The CNNOs in this study have all been publicly held entities and reported audited financials at some point in the 2011-22 timeframe; some are now private, or have been acquired by other CNNOs. Since our last review of this market in 1H22, we have added two companies to our coverage: Helios Towers and DigitalBridge.

CNNOs play an important role in the communications market. They sell independent, carrier-neutral access to network infrastructure, including mobile tower (and small cell/DAS), data center, and bandwidth/fiber assets. In 2022, CNNOs accounted for $95 billion (B) in revenues (+4% YoY), $12.3B in M&A spending (+-72%), $33.0B in capex (+3%), and $251B in net property, plant and equipment (net PP&E; flat YoY). They owned and operated 1,224 data centers, 3.29 million cell towers, and about 961K route miles of fiber. CNNOs employed just over 102.1K people at year-end 2022, a bit down from 102.9K in December 2021.

Market directions

In the old days, telcos did it all: they owned all the network infrastructure, they manufactured the switches and transmission gear deployed in the network, and even provided CPE. That model is long since extinct. The telco of 2023 cobbles together its physical network from a mix of owned and leased or rented resources. Cloud providers in the webscale world do the same; while they spend heavily on capex ($203B last year), they generally lease fiber or transmission bandwidth, and only own a portion of their data centers. For both telcos and webscalers, they rely heavily on third party operators of network infra, or carrier neutral network operators. CNNOs...

Read more
To see our most recently published reports, click here

Best regards,
Matt Walker
Chief Analyst
Email Marketing Powered by MailPoet