Executive Snapshot

Figure: Executive Snapshot: Worldwide Telecommunications Capex, FY21

New Market Developments and Dynamics

Top Carrier Groups' Capex Spending Review

Figure: Worldwide Capital Expenditure by Top 10 Carrier Group, 1H20, 2H20, 1H21, and 2H21

Table: Worldwide Capital Expenditure in Reported Currency by Top 10 Carrier Group, 1H18–2H21 and FY18–FY21 (B)

United States

AT&T: Continued Investments in Fiber and 5G-Related Products and Services

Table: AT&T's Wireless and Wireline Capital Expenditure, FY19–FY21 ($B)

Verizon: Capital Spending Fueled by Continued 5G Midband and mmWave and Fiber Deployments

Table: Verizon's Wireless and Wireline Capital Expenditure, FY19–FY21 ($B)

Comcast: Continued Investments in Scalable Infrastructure and Streaming Services

Table: Comcast's Capital Expenditure, FY19–FY21 ($B)

Figure: Comcast Cable Communications' Capital Intensity, 2019–2021

Europe (Western Europe and Central and Eastern Europe)

Telefónica: Investments Driven by NGN (Fiber and 5G) Deployments

Table: Telefónica Group's Capital Spending, FY19–FY21 (€B)

Figure: Telefónica's Capital Expenditure Share by Operating Country, FY21

Figure: Telefónica's Capital Expenditure Growth Rate by Operating Country, FY20–FY21

Orange: Increased Capital Spending Due to Massive FTTH Rollouts in France Coupled with 5G Rollouts in Six European Countries

Table: Orange Group's Capital Spending, FY19–FY21 (€B)

Figure: Orange Group's Capital Spending Share by Operating Segment, FY21

Figure: Orange's Capital Spending Growth by Operating Segment, FY20–FY21

Deutsche Telekom: Capex Driven by Continued 5G Network Rollouts in the United States and in Germany; Spending Also Supported by Fiber Deployments Across Europe

Table: DT Group's Capital Spending, 2019–2021 (€B)

Germany

Figure: DT Group's Capital Spending by Operating Segment, FY21

United States

Europe (Excluding Germany and the Netherlands)

Vodafone: Capital Programs Driven by 5G and Gigabit Investments; 5G Live in 10 European Countries

Table: Vodafone Group's Capital Spending, 1H20, 1H21, and 1H22 (€B)

Figure: Vodafone Europe's Capital Spending Share by Country, 1H22

Table: Vodafone Europe's Capital Spending by Country, 1H21 and 1H22 (€M)

Figure: Vodafone AMAP's Capital Spending Share by Country, 1H22

Table: Vodafone Group's Capital Spending, FY20–FY22 (€B)

Japan: Race for Deploying Network on the Cloud Continues

Table: Japan's Wireless and Wireline Capital Expenditure, 2017–2021 (¥T)

Figure: Japan Service Provider Capital Expenditure and Growth, 2018–2021

NTT: Enhance Competitiveness in Global Business, ONE NTT Global Growth Strategy

Table: NTT Group's Capital Expenditure by Operating Companies, FY19–FY21 (¥B)

Figure: NTT Group's Capital Spending by Business Type, FY18–FY21

KDDI: Integrating 5G with Life Design

Table: KDDI's Wireless and Wireline Capital Expenditure by Segment, FY18–FY21 (¥B)

Asia/Pacific (Excluding Japan) (APEJ): Telcos Striving to Accommodate Growing Data Traffic and Venture into Noncore, Non-Telco Services

Table: Asia/Pacific (Excluding Japan) Wireless and Wireline Capital Expenditure, 2017–2021 ($B)

Table: APEJ and China Capital Expenditure and Share of Non-Chinese Operators, 1H19–2H21 and FY19–FY21 ($B)

China Mobile: Driving Digital Innovation to Transform Networks, Products, and Operations

Figure: China Capital Expenditure Share by Operators, FY18–FY21

Figure: China Mobile's Capital Expenditure Share by Segment, FY20–FY22

China Unicom: Priority Shifts to Building Premium Networks with Focus on Customer Experience, High Degree of Intelligence, and Low-Carbon Emission

Table: China Unicom's Wireless and Wireline Capital Expenditure, 1H19–2H21 and FY19–FY21 (RMB Billion)

Figure: China Unicom's Capital Expenditure by Carrier, FY19–FY21

China Telecom: Industrial Digitalization Fuels Network and Technology Innovation

Table: China Telecom's Wireless, Fixed Broadband, and IPTV Subscribers, 1H18–2H21 (M)

Table: China Telecom's Wireless and Wireline Capital Expenditure, FY17–FY21 (RMB Billion)

Figure: China Telecom's Capital Expenditure by Segment, FY20–FY22

Capex Plans for Other Operators in LATAM and the Middle East and Africa Region

Latin America

Figure: Latin America Capital Expenditure and Growth, 2019–2010

America Movil: Capex Recovers from COVID-19 Shock; 5G Plans Limited to Only Two Countries for Now

Table: America Movil's Capital Expenditure, FY19–FY21 ($M)

Figure: America Movil's Capital Expenditure Share by Top 5 Subsidiary, 2021

The Middle East and Africa: The Middle Eastern Countries Set Ambitious 5G Goals, Ably Backed by Government Support

Table: Middle East and Africa Wireless and Wireline Capital Expenditure, 2017–2021 ($B)

Figure: MTN's Capital Expenditure and Capex Intensity, 2019–2021

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