Dell'Oro报告：2026上半年全球电信资本开支同比增长5%
Worldwide telecom capex rises 5% in 1H26 – Dell'Oro
Dell'Oro Group报告显示，2026上半年全球电信资本开支同比增长约5%，好于年初预期，六大电信设备项目（宽带接入、微波与光传输、移动核心网、RAN、高端路由与汇聚）厂商收入合计也增长约5%。
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According to a recently published report from Dell'Oro Group, a trusted source for market information on the telecommunications, security, networks, and data center industries, worldwide telecom capex increased about 5 percent year-over-year (Y/Y) in the first half of 2026. The stronger-than-expected start to the year follows several years of declining investment and marks an improvement relative to expectations at the beginning of 2026.
Telecom equipment trends remain closely aligned with capex. Aggregate manufacturer revenues across the six telecom equipment programs tracked by Dell'Oro Group—Broadband Access, Microwave & Optical Transport, Mobile Core Network (MCN), Radio Access Network (RAN), and High End Router & Aggregation—also increased approximately 5 percent Y/Y in 1H26.
Additional highlights from the September 2026 Telecom Capex report:
Despite the stronger start to 2026, Dell'Oro Group made only negligible revisions to its longer-term forecast. Worldwide telecom capex is projected to grow at a 0 to 1 percent CAGR between 2025 and 2030, reflecting a more mature investment environment following the major 5G and fiber coverage cycles.
Capital intensity, which peaked at 18 percent in 2022, is projected to decline to around 14 percent in 2028, before increasing modestly as early 6G investment emerges.
Telecom equipment revenues are projected to grow at a 2 to 3 percent CAGR between 2025 and 2030, outpacing CSP capex, partly reflecting incremental demand from cloud providers.
Read the full press release here.
来源：Light Reading · lightreading.com