American Tower anticipates that network capacity will need to double by 2030 to meet the growing demand spurred by 5G technology and artificial intelligence (AI) advancements. During a recent earnings call, Steven Vondran, the firm’s president and CEO, highlighted the forefront drivers of this growth: the rampant rise in mobile data consumption, the ongoing expansion of 5G networks, and forthcoming 6G developments.
Vondran stated, “The backbone of our revenue growth is mobile data consumption, which continues to grow rapidly alongside growth in mobile customers, 5G adoption, and fixed wireless access.” He emphasized the projected need for doubling the capacity of wireless networks to support this burgeoning demand by 2030. Furthermore, he noted the role of AI in pushing data consumption upward, necessitating more bandwidth, reduced latency, and increased uplink capacity.
In the United States, carriers are advancing in the 5G investment cycle, moving past initial coverage phases to prioritize capacity enhancement. Vondran sees this as setting the stage for the next generation, predicting, “We anticipate carriers will densify their networks not only to meet the capacity demands of 5G, but also to plan ahead for the 6G cycle.”
Beyond the U.S., similar patterns are emerging internationally. European markets are seeing significant newbuild activity stimulated by 5G progress, albeit at a slightly slower pace than the U.S. Emerging markets, on the other hand, remain primarily 4G-focused but are speeding up 5G developments in key metropolitan areas, presenting significant growth potential.
Wrapping up the fourth quarter of 2025, American Tower reported revenues of $2.73 billion, reflecting a 7.5% year-on-year increase. The full-year revenue for 2025 was $10.64 billion, a 5.1% rise from the previous year. The company forecasts its 2026 property revenues to be between $10.44 billion and $10.59 billion, with expected net profits ranging from $2.94 billion to $3.02 billion.
American Tower’s optimism stems from its substantial portfolio, encompassing approximately 150,000 communications sites. However, as the company steps into 2026, it remains cautious of challenges that could impact these projections. Their focus remains on capitalizing on mobile data consumption and expanding their global footprint. As Vondran noted, the journey towards doubling network capacity presents both opportunities and challenges in an evolving telecommunications landscape.
