5G Security Market Research Report: Forecast (2024-2030)
The Global 5G Security Market size was valued around USD 2.2 billion in 2023 and estimated to grow at a CAGR of about 39.25% during the forecast period, i.e., 2024-30. The factors attributing to the growth in demand for 5G security have been the rising deployment of the 5G network across the globe, especially in countries like the US, the UK, Canada, etc., the growing security concerns about cyber threats & malware attacks, and stringent government regulations mandating the integration of the security solutions.
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Market Dynamics
Global 5G Security Market Opportunity: Increasing Investment for the Upgradation of 5G Network by Telecom Operators & Government to Boost Market Growth
5G networks are a driving force for economic development and innovation across the globe since they act as a stimulus for digital transformation across various sectors such as telecommunications, manufacturing, healthcare, etc. As a result, the governments of countries like India, the UAE, etc., are investing heavily to deploy 5G networks within their countries.
However, the vast amount of data that is transmitted over 5G networks by these end-user industries, makes data privacy a paramount concern since the security breaches result in significant financial losses for the end users. In addition, the network breaches also result in service disruptions, legal compensations, and customer churn. Therefore, end-users are investing heavily & collaborating with the 5G network security solution providers to upgrade their 5G infrastructure & integrate security solutions within their networks. For instance,
- In 2023, the Malaysian telecom operator DNB announced their investment in 5G security solutions & collaborated with Ericsson to strengthen their network security.
This increasing investment & collaboration for the upgradation of 5G infrastructure is resulting & will continue to uplift the Global 5G Security Market.
In addition, governments of several countries that are planning to deploy 5G networks within their countries in the foreseen years are planning to enact regulations and standards related to 5G network security. As a result, end-users would have to comply with these requirements & essentially integrate 5G security within their infrastructure to avoid legal consequences and financial penalties, consequently enhancing the demand for the integration of 5G security solutions.
Leading Companies in 5G Security Market:
Telefonaktiebolaget LM Ericsson, Palo Alto Networks, Thales Group, A10 Networks Inc., Allot, AT&T Intellectual Property, F5, Inc., Check Point Software Technologies Ltd., Fortinet, Inc., Spirent Communications , Jupiter Networks Inc., Akamai Technologies, Zscaler, Inc., Trend Micro Incorporated, Vmware, Others,
Segmentation of the Industry
The 5G Security Market is highly fragmented and bifurcates into the following segmentations:
By Component
-Solution
–Next gen firewall
–Antivirus/Antimalware
–Security Gateway
–Distributed Denial of Service Protection (DDoS)
–Sandboxing
–Others (Encryption Software, Intrusion Detection and Prevention Systems (IDPS), etc.)
-Services
–Consulting & Advisory Services
–Managed Services
–Others (Application & Content Services, Support & Maintenance, etc.)
By Deployment
-Cloud
-On-Premise
- Cloud deployment is highly preferred in the 5G network security market for several compelling reasons like scalability, flexibility, cost-efficiency, rapid deployment, and centralized management.
By Architecture
-Radio Access Network (RAN)
–New Radio (NR) Standalone
–New Radio (NR) Non-Standalone
-Mobile Core Security
By End-Users
-IT & Telecom
-Banking, Financial Services, and Insurance (BFSI)
-Retail & E-Commerce
-Media & Entertainment
-Others (Healthcare, Hospitality, etc.)
By Organization Size
-Small & Medium
-Large
By Application
-Virtual & Augmented Reality
-Networked-Enabled Robotic and Autonomous Systems
-Distributed Sensing and Communications
-Connected Automotive
-Smart Cities
-Others (Smart Manufacturing, Wireless Brain-Computer Interactions (BCI), etc.)
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Regional Landscape
On the geographical front, the 5G Security Market expands across the following:
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific
- Geographically, North America witnessed a progression in the Global 5G Security Market owing to increasing deployment of the 5G network in countries like the US & Canada, an increasing adoption of 5G network in the different end-user organizations such as BFSI, Healthcare, IT & Telecom, and an excellent supervisory environment for telecommunications and cybersecurity.
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