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PUBLISHER: MTN Consulting, LLC | PRODUCT CODE: 1568994
PUBLISHER: MTN Consulting, LLC | PRODUCT CODE: 1568994
Telecom's Biggest Vendors - 2Q24 edition: Vendor Market Decline Moderates to 3.4% in 2Q24 as Huawei's Recovery Gains Momentum, Cautious Optimism for 2H24 Growth
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The goal of this report series is to equip telecom industry decision-makers with a comprehensive view of spending trends and vendor market power in their industry. To do this we assess technology vendors' revenues in the telecom vertical, across a wide range of company types and technology segments. We call this market "telco network infrastructure", or "Telco NI." This study tracks 134 Telco NI vendors, providing revenue and market share estimates for the 1Q13-2Q24 period. Of these 134 vendors, 108 are actively selling to telcos; most others have been acquired by other companies in the database. For instance, ADVA is now part of Adtran, but both companies remain in the database because of historic sales.
VISUALS
Below are the key highlights of the report:
- Revenues: Telco NI vendor revenues were $53.3B in 2Q24 and $205.7B for the annualized 2Q24 period overall, down 3.4% and 8.9% on a YoY basis, respectively. Huawei lifted the market: excluding Huawei, the total market declined by 7.3% in the latest single quarter and by 11.2% in annualized 2Q24 on a YoY basis. After many disappointing quarters, Huawei appears to have turned a corner in the latest three quarters.
- Top vendors: The top three Telco NI vendors remain the usual trio: Huawei, Ericsson, and Nokia. They account for 37.7% of the total market in annualized 2Q24, or 40.3% in 2Q24 alone. China Comservice and ZTE have been jostling for the 4th and 5th positions since early 2019.
- Key vendors by YoY revenue growth: The top three vendors, in terms of YoY revenue growth, are common to both single quarter and annualized 2Q24: Tejas Networks, Broadcom, and Alphabet. Respectively, their jumps were due to BSNL's 4G rollout in India (Tejas), acquisition of VMWare in Nov 2023 (Broadcom), and improved penetration of the telecom vertical with cloud services (Alphabet).
- Spending outlook: Per our latest official forecast, we expect telco capex -the main driver of the Telco NI market -to dip from $315B in 2023 to between $295B-$305B. Capex will start to rise again in a couple of years, reaching $331B in 2028. The spending outlook for the US market is appealing in the short-term due to government funding (BEAD and RDOF).
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Product Code: GNI-27092024-1
Table of Contents
1. Report Highlights
2. SUMMARY - Results commentary
3. Telco NI Market - Latest Results
4. TOP 25 VENDORS - Printable tearsheets
5. CHARTS - Single vendor snapshot
6. CHARTS - 5 vendor comparisons
7. R&D spending by vendors
8. RAW DATA - revenue estimates by company
9. Methodology & Assumptions
10. ABOUT - MTN Consulting
FIGURES(Partial list):
- Annualized Telco NI vendor revenues ($B) vs. YoY growth in annualized sales
- YoY growth in annualized Telco NI market, with and without Huawei figures
- All vendors, YoY growth in single quarter sales
- Telco NI vendor revenues by company type, TTM basis (US$B)
- Telco NI revenues by company type: YoY % change
- Telco NI revenue split: Services vs. HW/SW
- Telco NI sales of top 10 vendors vs. all others, 2Q24 TTM (annualized)
- Top 25 vendors based on annualized Telco NI revenues through 2Q24 ($B)
- Top 25 vendors based on Telco NI revenues in 2Q24 ($B)
- Key vendors' annualized share of Telco NI market
- Telco NI market share changes, 2Q24 TTM vs. 2Q23 TTM
- Telco NI annualized revenue changes, 2Q24 vs. 2Q23
- YoY growth in Telco NI revenues (2Q24)
- Top 25 vendors in Telco NI Hardware/Software: Annualized 2Q24 Revenues (US$B)
- Top 25 vendors in Telco NI Services: Annualized 2Q24 Revenues (US$B)
- R&D spending as a percent of revenues for key telco-focused vendors (2Q22-2Q24)
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