Tower companies (TowerCos) build and operate towers which are used as passive infrastructure to host active elements of one or more telecommunications networks. This latest Global Trends benchmark provides an overview of TowerCos across 12 jurisdictions around the world: Australia, Brazil, China, the EU, India, Japan, Korea, Mexico, Singapore, South Africa, the UK and the US. The research covers for each jurisdiction:

• Largest TowerCos by number of sites, ownership, services provided, and clients served.
• Recent mergers and acquisitions (M&As) involving TowerCos.
• Policies and regulations of relevance for TowerCo operations.

Market
 

• TowerCos operate in 10 jurisdictions, with 25 companies analysed: 28% MNO-controlled and 72% independent operators. In 2025–early 2026, some MNOs (KPN in the Netherlands and MTN in Africa) reacquired control of previously sold tower assets, raising questions about a broader shift in tower ownership.
• The market saw at least nine M&As in 2025–early 2026, with six approved under conditions by the competition authorities since 2021.

Regulatory requirements imposed on TowerCos

• TowerCo services are generally unregulated unless they provide additional communications services.
• China requires licensing for TowerCos, while India requires authorisation. Four jurisdictions classify tower sites as critical infrastructure.
• Mexico’s 2025 telecoms law makes passive infrastructure providers regulated and gives the regulator authority over deployment and access.

Site deployment and sharing

• All jurisdictions have implemented or proposed policies to facilitate macro-site deployments.
• Eight jurisdictions have implemented policies to encourage site sharing.
• Five surveyed jurisdictions adopted (Japan, Mexico) or proposed (EU, US, UK) policies affecting site deployment or sharing in the past year.

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