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