Market Report

Wireless Infrastructure 4Q25 & FY25

About the Author

With over 35 years of experience in the telecommunications industry, including 28 years in Silicon Valley, Stéphane Téral is regarded as one of the top analysts in his field, having been the trusted advisor at some of the world's largest telecom providers and manufacturers. He specializes in next-generation wireless infrastructure including 5G and 6G, network disaggregation and automation, cloud and quantum networking, programmable core networks and communications service provider digital transformation.

As an advisor to start-ups, service providers, vendors and the investment community, Stéphane helps clients identify new market opportunities, conducts due diligence, and advises on positioning, product development, business plans and M&A. A highly sought thinker and speaker, Stéphane is frequently quoted in prestigious publications such as The Economist, Nikkei Asia, Le Monde, Les Echos, L’Usine Nouvelle, Barron's, and The Wall Street Journal. He also chairs and presents at global industry events including Brooklyn 6G Summit, FYUZ, GSMA Mobile World Congress, OCP Regional Summit, and NGMN IC&E. Stéphane has been a frequent expert judge for industry and technology innovation awards, such as the GSMA Global Mobile Awards (the GLOMOS), and the Layer123 World Congress.

Stéphane founded TÉRAL RESEARCH in January 2023 after 2 years as a Chief Analyst at LightCounting, which he joined in May 2020, after serving as a Technology Fellow at IHS Markit where he was also rewarded with the 2016 Market Research Excellence Award. Previously, he spent 8 years as a principal analyst at Infonetics Research after starting his analyst career at RHK, where he developed the European optical coverage and helped carriers migrate from PSTN to next-generation networks. Prior to RHK, he was an R&D engineer and project manager with Alcatel where he deployed the CATV optical networks that allowed the 1992 Olympics and the grand opening of Euro Disney to be televised using fiber optics for the first time. Stéphane is a McGowan Scholar at the McLaren School of Business of the University of San Francisco where he received his MBA with an emphasis in telecommunications. He holds an engineering degree in telecommunications from the Institut Polytechnique de Paris, France.