Dell'Oro: worldwide telecom capex up 5% in H1 2026

Dell'Oro Group reported worldwide telecom capex rose 5% year-over-year in the first half of 2026, beating expectations after several years of declining investment. Revenue across the six telecom equipment segments it tracks also grew about 5%, while the long-term outlook stays at up to 1% CAGR through 2030.

• Telecom capex rose 5% year-over-year in H1 2026
• Revenue from six telecom equipment segments grew about 5%
• Long-term capex growth forecast at up to 1% CAGR through 2030
• Capital intensity to fall from 18% peak in 2022 to ~14% in 2028