Past the peak? How APAC network capex is changing and what this means for telcos and infracos

The telecom industry has spent the past two decades in recurring CapEx waves - 2G, 3G, 4G, and now 5G, each bringing an intense infrastructure build followed by a lull. But are we now entering a different era?  

Whilst developing markets continue to show strong growth in mobile traffic, data growth in more developed countries is slowing. Globally, operator CapEx-to-revenue ratios are falling, raising the question: have we reached peak investment in access networks?  

• In which countries is data traffic showing strong growth and where are there signs of tapering off? 

• Will late-5G markets mirror the growth trajectories of early adopters like South Korea and Singapore, or chart their own course based on unique economic and usage dynamics? 

• Will the much hyped 5G use cases materialise and translate into increased traffic volumes?  

• Will the AI traffic explosion in data centre interconnect translate across to access networks? 

• What do operator financial disclosures reveal about spending patterns and if the old model is ending, what does this means for telco strategy, vendor demand, and infrastructure investors?