Carrier-Neutral Network Operators: 4Q22 Market Review

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.

The information contained in this report was obtained from both primary and secondary research, supplemented by the expertise of MTN Consulting's analyst team.

Please Note: This product is delivered as a Excel File.