View this in your browser. Hello, Thanks for your interest in our latest research. You can view a summary of our latest report below. Carrier-neutral growth slows in 2022 amid consolidation This short note provides a brief review of the development of the carrier-neutral network operator (CNNO) market through the third quarter of 2022 (3Q22). CNNO revenues were approximately $23.9 billion (B) in 3Q22, up 3% YoY, and $94.8B for the annualized 3Q22 period (4Q21-3Q22), up 6% YoY. These growth rates are significantly less than the 12.5% growth seen in CY2021 and the average growth over the 2011-21 period of 16.6% per year. That’s despite the acquisition spree the sector observed in 2021, when M&A spend of $42.1B easily outpaced capex of $31.4B. This M&A and capex spending have expanded the asset base of the sector, but not helped much with revenue growth, yet. Companies point to... Read more To see our most recently published reports, click here Best regards, Matt Walker Chief Analyst If you'd rather not receive future emails from MTN Consulting, unsubscribe by clicking the link below. Unsubscribe | Manage your subscription