5G Security Market: Segmented by Size (large enterprises, SMBs); by End user (Manufacturing, Healthcare, Energy and Utilities, IT & Telecom, Automotive and Transportation, Supply Chain and Logistics, Government and Public Safety, Agriculture and Others) and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
5g security market to surpass USD 5.45 billion by 2030 from USD 573.23 million in 2020 at a CAGR of 46.5 % in the coming years, i.e., 2021-30.
Data breaches and cyber-attacks are reduced by the usage of 5G security architecture. This assault can be caused by malevolent networks connected to networks through unidentified network devices, or by sensitive data being exposed due to insufficient data encryption. As the number of people who use the internet grows, so does the risk of cyber-attacks. Cyber-attacks can be reduced by adopting a 5G network infrastructure. User authentication, better user privacy, and strong network authorization are all elements of 5G technology, which increases security. We can encrypt data, secure its integrity, and authenticate during the data transfer process with the help of 5G security. Many businesses are concerned about the security of their IoT devices, which contain personal information, sensitive corporate information, and vital infrastructure. As a result, we can protect and secure crucial data and devices using 5G technology characteristics.
The market for 5g security is growing due to increased demand for high-speed data access for Internet of Things (IoT) applications. The growth of the 5g security industry is influenced by an increase in demand for stable and ultra-low latency networking services. Rising infrastructure creation, such as smart cities, and the increasing use of connected devices are driving demand for high-speed connectivity, which will drive the 5g security market forward.
Global 5g security market is segmented by End-user into Manufacturing, Healthcare, Energy and Utilities, IT & Telecom, Automotive and Transportation, Supply Chain and Logistics, Government and Public Safety, Agriculture and Others. The IT & Telecom segment of the 5g security market is expected to have a larger market size during the forecast period, based on the end-user. Due to major investments by key players in the latest communication technologies, the segment is expected to maintain its dominance over the forecast period. Over the forecast period, the IT & telecom segment is expected to rise due to rising demand for higher data speeds security for residential and commercial applications. 5G networks are supposed to provide ubiquitous internet connections between homes and workplaces, allowing for online consultations with experts and reducing business travel. During the forecast era, the increasing demand for increased broadband capacity for virtual business meetings is expected to propel the segment forward.
The Global 5g Security Market is segmented by size into large enterprises, SMBs. Due to growing usage of the safety solutions to prevent critical information, SMBs are also anticipated to experience significant growth over the forecast period. Organizations of all sizes are moving to cloud computing to reduce the burden on their IT support workers, lower costs and provide advanced service. Cloud technology has been rapidly embraced and security companies have developed comprehensive cloud-based security solutions.
Demand for high-speed networking and machine to machine connectivity
The demand for high-speed networking is growing in tandem with the amount of data traffic, propelling the 5g security industry forward. The rapid production of linked IoT devices is accelerating the demand for 5g security. Furthermore, the market for 5g security is expected to expand as machine-to-machine connectivity becomes more important and demand for broadband services continues to rise.
Concerns related to security in 5g network
CIOs are primarily concerned about a network that could result in significant losses for both corporations and service providers. SDN, NFV, and cloud-native architecture were used to construct the new network infrastructure. Network functions are separated from the underpinning infrastructure and distributed among local, regional, and central data centers. The majority of network services in a cloud-based 5G network are implemented over public and private cloud infrastructure. The 5G network connects vertical industrial networks including autos, medicine, factories, and IoT devices, as well as legacy networks (2G, 3G, and 4G) and internet service networks. It will build a network connection structure based on complex heterogeneous networks, with a focus on 5G networks. Because of the complexity of these networks, weak links might arise as a result of networks and devices with varying security requirements and levels of security technology.
High investment costs as well as government regulations
The significant investment needed to develop a stable 5G network infrastructure could stymie the market. Furthermore, government regulations and other network connectivity-related issues could pose significant challenges to the market in the coming years.
F5 Networks (US)
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global5g security market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Global 5g security North America held the largest market share in the year 2020. The country has been an early adopter of the 5G service network, with many telecom firms in the region announcing plans to carry out 5G services well ahead of other regions' operators. Furthermore, the area is fast to adopt new technologies such as the Internet of Things (IoT) and smart cities, both of which necessitate high-speed network performance. Europe is expected to remain a significant market for 5g security, and its expansion can be attributed to the region's rigorous R&D efforts. A large number of ongoing consumer trials in countries like the United Kingdom, Germany, and France are also expected to boost business growth.
|Market size value in 2021
|USD 573.23 million
|Revenue forecast in 2030
|CAGR of 46.5 % from 2021 to 2030
|Base year for estimation
|Revenue in USD million and CAGR from 2021 to 2030
|Revenue forecast, company ranking, competitive landscape, growth factors, and trends
|Network Type, End-User, and Region
|North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
|Key companies profiled
|A10 Networks (US), Akamai (US), Allot (Israel), AT&T (US), Avast (Czech Republic), Check Point (US), Cisco (US), Clavister (Sweden), Colt Technology (UK), Ericsson (Sweden), F5 Networks (US), ForgeRock (US), Fortinet (US), G+D Mobile Security (Germany), Huawei (China), Juniper Networks (US), Mobileum (US), Nokia (Finland) and other prominent players
The 5G Security Market size was estimated at USD 573.23 million in 2020 and is expected to reach USD 5.45 billion by 2030.
Key Players: F5 Networks (US), A10 Networks (US), Akamai (US), Allot (Israel), AT&T (US), Avast (Czech Republic), Check Point (US), Cisco (US), Clavister (Sweden), Colt Technology (UK), Ericsson (Sweden)
IT & Telecom segment is anticipated to hold the 5G Security Market share.
Demand for high-speed networking and machine to machine connectivity and Concerns related to security in 5g network.
Data breaches and cyber-attacks are reduced by the usage of 5G security architecture. This assault can be caused by malevolent networks connected to networks through unidentified network devices, or by sensitive data being exposed due to insufficient data encryption. As the number of people who use the internet grows, so does the risk of cyber-attacks.
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