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Webscale Market Tracker, 1Q25: AI FOMO pushes 12 month capex to $340B, passing telco market

By Matt Walker published on June 11, 2025 Big tech’s webscale buildout keeps breaking records. In 1Q25, the 22 companies in our Webscale Tracker, including new entrant CoreWeave, generated $652 billion (B) in revenue (+9.2% YoY), spe... read more

Global Telco Market Tracker, 4Q24: Annual capex stays muted below $300B

By Arun Menon published on June 5, 2025 Telco revenues gained modest momentum in 4Q24, rising 1.7% YoY to $454.7 billion (B), marking the second straight quarter of recovery. Growth was led by China’s Big Three (China Unicom (9.7%)... read more

US telco capex fading as AI giants take center stage

By Matt Walker published on June 4, 2025 This brief examines the near-term outlook for telecom capital expenditures (capex) in the US, based on the 1Q25 earnings of key operators, including AT&T, Verizon, Charter, Comcast, T-Mobil... read more

India capex starts to ease in 1Q25 after 3 big years

By Matt Walker published on June 2, 2025 This brief examines the near-term outlook for telecom capital expenditures (capex) in India, based on the 1Q25 earnings of key operators: Airtel, BSNL, Jio Platforms, and Vodafone Idea (Vi). It... read more

India’s Quantum Communication Journey: Insights from the International Quantum Communication Conclave 2025

By Arun Menon published on May 7, 2025 This brief outlines the strategic initiatives, innovations, and milestones showcased at the International Quantum Communication Conclave 2025 that are steering India’s progress toward future-... read more

Greener networks: Telcos power up traffic efficiency

By Matt Walker published on March 25, 2025 The group of 30 telcos included in this analysis represent about 55% of the global market, based on revenues. Our data verify the well-known revenue-traffic conundrum, where tr... read more

Webscale Market Review, 4Q24: Annual capex breaks the $300B mark

By Matt Walker published on March 20, 2025 In 4Q24, webscale capex grew an astounding 78% YoY, to push the annual total just over the $300B benchmark. Webscale capex also grew around 70% YoY for two quarters in 2018, so the growth rate ... read more

Vendor sustainability: Ciena leads the green charge among NEPs; chip, fiber, and Chinese vendors lag

By Matt Walker published on February 6, 2025 This brief report addresses energy consumption, use of renewables, and carbon emissions among key vendors to the telecommunications operator (telco) sector.  read more

Telecommunications Network Operators: 3Q24 Market Review

By Arun Menon published on January 16, 2025 Global telco revenues showed a slight recovery in 3Q24, growing by 0.8% YoY to reach $441.4 billion (B) during the July–September period. In the US, AT&T (-0.5%) and Verizon (0.0%) strugg... read more

Telco Opex Analyzer, 2016-23

By Arun Menon published on January 16, 2025 This report delves into operational expenditure (opex) trends in the telecommunications network operator (TNO) market. In this edition, the telco sample group includes 32 companies, covering da... read more