Summary
Dynamics of global CapEx in telecommunications in 2022
As the need to deploy very high-speed access networks (FTTx, 5G, etc.) becomes more and more pressing, telecom operators must support significant investments.
Based on an analysis of the global market and its players (24 countries and more than 30 operators covered), this report provides details on fixed and mobile CapEx from 2017 to 2022 and compares different regional trends.
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What has been the CapEx dynamics of telecom operators over the last five years?
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Which regions have seen the largest increase in CapEx in telecommunications infrastructure? And the weakest?
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What is the relationship between revenue and CapEx of telecom operators?
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What are the CapEx trends of the largest telecom companies?
Geographic sector
WORLD
Actors
America Mobile
AT&T
ECB
Bharti Airtel
BT
Century Link
Charter (Time Warner Cable until 2016)
China Mobile
China Telecom
China Unicom
Comcast
Deutsche Telecom
Etisalat
KDDI
K.T.
Liberty Global
MTN
NTT
Orange
SFR/Altice
SK Telecom
Softbank
Swisscom
Telecom Italia
Telefonica
Telenor
TeliaSonera
Telstra
Verizon
Author
Stéphanie Char, Director of Studies
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Table of Contents
1. Telecom service revenu
1.1. Worldwide revenue trend per segment
1.2. Worldwide revenue trend per region
2. CapEx
2.1. Worldwide Capex
2.2. Downward CapEx trends worldwide
2.3. Regional trends
2.4. World largest telcos
2.5. Wide array of CapEx to sales ratios
2.6. EBITDA margins
2.7. CapEx margins
3. Select Telcos
3.1. Comcast
3.2. China Telecom
3.3. Vodafone
3.4. KT
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List of Tables/Graphs
1. Telecom service revenu
Figure 1: Telecom service revenue worldwide, by segment, 2016-2026
Figure 2: Regional distribution of telecom service revenue, in 2016-2021-2026
2. CapEx
Figure 3: Telcos’ CapEx worldwide, 2017-2022
Figure 4: Telcos' CapEx CAGR 2017-2022 by region
Figure 5: Regional distribution of telcos’ CapEx in 2022
Figure 6: Regional breakdown of telecom service revenues in 2022
Figure 7: Top 30 telecom operators based on revenue in 2022
Figure 8: Highest spending ratios amongst the world’s top 30 telcos
Figure 9: Lowest spending ratios amongst the world’s top 30 telcos
Figure 10: EBITDA margin for the world’s top telcos, 2017-2022
Figure 11: CapEx-to-sales ratio for the world’s top telcos, 2017-2022
3. Select Telcos
Figure 12: Comcast’s Total customers
Figure 13: Comcast’s Mobile and Broadband ARPUs
Figure 14: Comcast’s CapEx 2016-2021
Figure 15: Comcast’s CapEx to sales ratio 2017-2022
Figure 16: China Telecom’s Total customers
Figure 17: China Telecom’s Mobile and Broadband ARPUs
Figure 18: China Telecom’s CapEx 2017-2022
Figure 19: Structure of China Telecom’s CapEx (2022)
Figure 20: Vodafone’s Total customers
Figure 21: Vodafone’s Mobile and Broadband ARPUs
Figure 22: Vodafone’s CapEx 2018-2023
Figure 23: Vodafone’s CapEx to sales ratio 2018-2023
Figure 24: KT’s Total customers
Figure 25 KT’s Mobile and Broadband ARPUs
Figure 26: KT’s CapEx 2017-2022
Figure 27: KT’s CapEx to sales ratio 2017-2022
