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運營商中立網路經營者 (CNNO):市場檢討

Carrier-Neutral Network Operators - 2Q19 Market Review: CNNOs Now Operate 624 Data Centers, 2.4 Million Cell Towers, and Over 542K Route Miles of Fiber

出版商 MTN Consulting, LLC 商品編碼 757460
出版日期 內容資訊 英文
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運營商中立網路經營者 (CNNO):市場檢討 Carrier-Neutral Network Operators - 2Q19 Market Review: CNNOs Now Operate 624 Data Centers, 2.4 Million Cell Towers, and Over 542K Route Miles of Fiber
出版日期: 2019年10月04日內容資訊: 英文
簡介

本報告提供運營商中立網路經營者 (CNNO)的趨勢每季調查,收益,淨PP&E,OPEX、CAPEX,淨利、淨利率等各種財務資料,CNNO類型、企業等各種區分的明細等彙整資料。

目錄

  • 概要
  • 分析
  • 2019年第2季的主要統計
  • 各部門分析
  • 各企業分析
  • KPI:各企業
  • 匯率

收益:各CNNO類型

  • 收益:各CNNO類型
  • CAPEX:各CNNO類型
  • 資本集中度:各CNNO類型
  • CAPEX & 收購費用
  • 淨PP&E:各CNNO類型
  • 資料中心&出賃可能空間的成長
  • 每一資料中心的NRSF
  • 收益:企業、各市場區隔
  • 淨PP&E:企業、各市場區隔
  • 資料中心CNNO:出賃可能面積
  • 資料中心CNNO:資料中心數
  • 塔CNNO:各企業塔數
  • 塔CNNO:員工數
  • 收益、現金流量的變化
  • 自由現金流量、手頭現金的變化
  • 收益、資本集中度的變化
  • OPEX、CAPEX的變化
  • 負債、資本的變化
  • ROE、ROA的變化
  • 淨PP&E的變化:CNNO區分
  • 淨PP&E:年度成長率的變化
  • 淨PP&E:各企業
    • 塔區分
    • 資料中心區分
  • 淨利率:各CNNO類型
  • 淨利:各CNNO類型
  • 自由現金流量/收益:各CNNO類型

本網頁內容可能與最新版本有所差異。詳細情況請與我們聯繫。

目錄
Product Code: GNI-03102019-1-1

Carrier-neutral providers of network infrastructure continue to play a pivotal role in the telecom sector's development. CNNOs have grown by 3.3x since 2011 to post $58.8 billion (B) in revenues in 2018 - now more than half of those revenues have been recorded in 1H19 ($30.3B). Since 2011, the sector's data centers under management have more than doubled, to 624 facilities; fiber route miles have almost tripled, and the cell tower count increased over 10x to 2.4 million.

Historically, much of the CNNO sector's growth has been acquisition-induced, and M&A has burned nearly as much cash as capex in the sector. However, M&A spending has slowed down of late, and CNNO revenue growth in 1H19 was relatively flat. Year over year revenue growth was just 4.2% in 1H19. Growth in the data center segment remained strong in the latest quarter, but both the tower and bandwidth segments slowed.

Capital spending among CNNOs picked up slightly in 2Q19 and remains high as a % of revenues. In 2Q19, CNNO capex of $5.3B was 34% of revenues vs. 32% in 1Q19 (and 40% in 4Q18). Most CNNO capex is for the purchase of property and related construction costs, with telecom equipment & software taking up a small percentage. Some CNNOs are deploying more intelligence in their networks and evolving business models, though, such as Crown Castle, NBN and Zayo.

Despite the recent blip in growth, we expect CNNOs with a proven track record of acquisitions to continue looking for multi-billion dollar asset deals for the next several quarters and even years. The market could also see some more consolidation as the next market downturn hits. The larger CNNOs will push the envelope on their business model as they grow, adding services on top of their infrastructure and building further to the edge of the network.

This is MTN Consulting's comprehensive, Excel-based assessment of the Carrier-Neutral Network Operator (CNNO) market sector, including detailed financial & operational results from 2011 through June, 2019 (2Q19).

  • Tower CNNOs covered include: American Tower, Arqiva, Balitower, Bharti Infratel, Cellnex, China Tower, Crown Castle, EI Towers, GTL Infrastructure, IBS, Inwit, SMN, SBA Communications, STP, Tower Bersama, and Telxius/Telefonica.
  • Data center CNNOs: CoreSite Realty, CyrusOne, Digital Realty, DuPont Fabros (now part of DRT), Equinix, Interxion, and QTS.
  • Bandwidth CNNOs: Chorus Limited, Internap, Level 3, Lumos, Superloop, Uniti Group, Zayo, Cogent, NBN Australia

More details are available in the “sample file,” above.

Table of Contents

  • Abstract
  • Analysis
  • CNNO Segment Overview
  • Market Snapshot
  • CNNO Market: Key Stats thru 2Q19
  • Segment Drilldowns
  • Company Drilldowns
  • KPIs by Company
  • Exchange Rates
  • About

List of Figures & Charts

  • 1. Revenues by type of CNNO (US$M)
  • 2. Revenues by CNNO type, 1H18 vs. 1H19 (US$M)
  • 3. Capex by type of CNNO (US$M)
  • 4. Capital intensity by type of CNNO
  • 5. Capex & acquisition spending, CNNO total (US$M)
  • 6. Net PP&E by type of CNNO (US$M)
  • 7. CNNO towers & average tenancy ratio, global ex-China
  • 8. Growth of data centers & rentable space since 2011
  • 9. NRSF per data center (K)
  • 10. Revenues by company, 2Q19: CNNO market segment (US$M)
  • 11. Net PP&E by company, 2Q19: CNNO market segment (US$M)
  • 12. Data center CNNOs: Net rentable square feet, 2Q19 (million)
  • 13. Data center CNNOs: # of data centers, 2Q19
  • 14. Tower CNNOs: # of towers by company, 2Q19
  • 15. Tower CNNOs: employees, 2Q19
  • 16. Tower CNNOs: Net Profit (US$M) and Net Margin (%), 1Q14-2Q19
  • 17. Tower CNNOs: Net PP&E (US$M) and Net PP&E/Revenues, 1Q14-2Q19
  • 18. Tower CNNOs: FCF (US$M) and FCF/Revenues (%), 1Q14-2Q19
  • 19. Data center CNNOs: Net Profit (US$M) and Net Margin (%), 1Q14-2Q19
  • 20. Data center CNNOs: Net PP&E (US$M) and Net PP&E/Revenues, 1Q14-2Q19
  • 21. Data center CNNOs: FCF (US$M) and FCF/Revenues (%), 1Q14-2Q19
  • 22. Cash from operations (US$M): Tower CNNOs vs. Data center CNNOs, 1Q14-2Q19
  • 23. Cash & short term investments (US$M): Tower CNNOs vs. Data center CNNOs, 1Q14-2Q19
  • 24. Net profit margin by type of CNNO
  • 25. Net Profit by type of CNNO (US$M)
  • 26. Free cash flow/revenues by type of CNNO (US$M)
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