5G Security Market worth $9.2 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, Sept. 8, 2023 /PRNewswire/ -- Addressing the particular security concerns posed by 5G technology, such as sophisticated threats, network slicing, IoT security, and edge computing, will be the focus of the 5G Security Market in the future. The integrity and resilience of 5G networks and apps will depend on cutting-edge technologies, cooperation, and a proactive security posture.

The 5G Security Market is estimated at USD 1.7 billion in 2023 and is projected to reach USD 9.2 billion by 2028, at a CAGR of 38.9% from 2023 to 2028, according to a new report by MarketsandMarkets™. The 5G network is connected to vertical industrial networks, such as automobiles, medicine, factories, and IoT devices which creates a network connection structure that comprises complex heterogeneous networks centered on the 5G networks.

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177 - Tables
46 - Figures
253 - Pages

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Scope of the Report

By offering, the solutions segment is estimated to account for the largest market share in 2023.

Due to the increasing complexity and interconnectedness that 5G technology delivers, security is a major problem. With 5G, the fifth generation of wireless networks, data rates are increased, latency is decreased, and there is support for a huge number of connected devices. These benefits, meanwhile, also increase the potential attack surface for online attackers. An all-encompassing solution calls for a multifaceted strategy to solve the security issues around 5G. To protect the secrecy of data exchanged over the network, strong encryption mechanisms must first be put in place. Second, strong authentication procedures and access controls must be in place to guarantee that only authorized individuals and devices can access the network. Thirdly, technologies for continuous monitoring and threat detection must be used to quickly spot and stop any suspicious activity.

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By network security, RAN security is expected to register the largest market size during the forecast period.

Base stations and antennas that cover a particular area based on their capacity are included in Radio Access Network (RAN) components, as is a core network that includes a RAN controller. The heart of contemporary LTE networks must have an Evolved Packet heart (EPC). Numerous cyberattacks reduce the RAN's performance and interfere with internet services by causing low latency. Because 5G security solutions shield RANs from cyberattacks, there is no bandwidth consumption from unauthorized traffic. All RAN interfaces transport important communication, and intruders who read or change the data can seriously damage the network. As a result, businesses have used 5G security solutions broadly.

Asia Pacific is expected to have the highest growth rate.

The Asia Pacific region's enormous population has produced a sizable pool of mobile subscribers for telecom firms. The region contributes the most mobile customers to the global total and will continue to grow its network in the upcoming years. A variety of nations undergoing digital transformation can be found in this diverse region. Leading technologies like 5G and edge computing are predicted to be dominated by the Asia-Pacific area. 5G security and blockchain. The size, variety, and strategic leadership of countries, including Singapore, are the key causes of the dominance. Australia, China, South Korea, and Japan. The two biggest economies that manufacture vehicles, IT, networking, and electronic devices are Japan and China.

Top Key Companies in 5G Security Market:

The major vendors covered in the 5G security Ericsson (Sweden), Palo Alto Networks (US), Cisco (US), Allot (Israel), Huawei (China), A10 Networks (US), Nokia (Finland), F5 Networks (US), Juniper Networks (US), Spirent (US), Fortinet (US), Mobileum (US), Trend Micro (US), ZTE (China), Akamai (US), Colt Technology (UK), CLAVISTER (Sweden), Radware (Israel), AT&T (US), Riscure (Netherlands), Avast (Czech Republic), G+D Mobile Security (Germany), Check Point (US), ForgeRock (US), Positive Technologies (UK), Cellwise (US), Banu Networks (US), Suavei (US), Cachengo (US), BroadForward (Netherlands), Trilogy (US), Movandi (US), Deepsig (US), EdgeQ (US), Alcan systems (Germany), Mixcomm (Colombia), and Microamp Solutions (Poland).

Recent Developments

• In July 2023, Ericsson partnered with Spark, one of New Zealand's largest telecommunications and digital services providers. To supply its 5G Core solution to power Spark's 5G Standalone (SA) network in New Zealand.
• In June 2023, Cisco Systems and Indian system integrator Wipro Technologies partnered to deploy private fifth-generation (5G) networks to enterprise customers worldwide.
• In September 2022, Palo Alto Networks partnered with Telus, one of the largest 5G network operators in Canada. Telus will use the security vendor's hardware and software firewalls to protect high-capacity network interfaces across its 5G stand-alone core and internet perimeter while providing security to its IoT customers.
• In September 2021, A10 Networks enhanced its solutions to help customers meet and accelerate its Zero Trust strategies. The company added Zero Trust architecture to the existing security portfolio. The features that will be enhanced are infiltration visibility and protection, automated DDoS protection, granular operational micro-segmentation, advanced user authorization and verification, and real-time observability and central management.

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5G Security Market Advantages:

• Faster downloads, lag-free streaming, and increased network performance are all made possible by the much faster internet rates offered by 5G.
• Data transmission delays are decreased thanks to 5G networks' ultra-low latency. This is essential for applications that require split-second judgements, such as driverless vehicles, remote surgery, and augmented reality.
• 5G is the best option for IoT applications like smart cities, industrial automation, and remote monitoring since it can link a large number of IoT devices at once.
• With more concurrent users and devices supported by 5G networks, network congestion is reduced and dependable connectivity is always available, even in heavily populated locations.
• Wider bandwidth is available on 5G networks, supporting high-data applications and the expansion of multimedia content.
• The energy-saving features of 5G technologies are intended to make wireless networks less harmful to the environment than their forerunners.
• Edge computing is made possible by 5G, allowing data processing and analysis to take place nearer to the data source, lowering latency and enhancing real-time decision-making.
• By enabling video conferencing, cloud computing, and other collaborative capabilities, 5G makes it easier to work remotely and collaborate with others.

Report Objectives

• To determine and forecast the global 5G Security Market by component (solutions and services), network component security, architecture, deployment mode, organization size, application, end-user, vertical, and region from 2020 to 2027, and analyze various macro and microeconomic factors that affect the market growth
• To forecast the size of the market's segments with respect to four main regions: North America, Europe, Asia Pacific, and the Rest of the World (RoW)
• To provide detailed information about the major factors (drivers, opportunities, threats, and challenges) influencing the growth of the 5G Security Market
• To analyze each submarket with respect to individual growth trends, prospects, and contributions to the total 5G Security Market
• To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the 5G Security Market
• To profile key market players (such as top vendors and startups); provide a comparative analysis based on their business overviews, regional presence, product offerings, business strategies, and key financials; and illustrate the market's competitive landscape.
• To track and analyze competitive developments, such as mergers and acquisitions (M&As), product developments, partnerships and collaborations, and Research and Development (R&D) activities, in the market

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