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5G security Market Size

ID: MRFR//8972-HCR | 141 Pages | Author: Ankit Gupta| July 2024

Several marketplace aspects are impacting the platform of 5G security, shaping the trajectory of this dynamic enterprise. One top aspect is the exponential growth within the variety of linked gadgets. The introduction of the 5G era has ushered in an era wherein billions of devices, from smartphones to IoT gadgets, are seamlessly related. This surge in connectivity expands the capacity assault surface for cyber threats, necessitating strong safety solutions to safeguard against potential vulnerabilities and breaches. As a result, the demand for 5G security measures is carefully tied to the sheer scale of interconnected gadgets inside the 5G atmosphere. The aggressive dynamics amongst cybersecurity vendors play a crucial function in shaping the 5G security marketplace. Established gamers in the cybersecurity area are adapting their services to meet the unique challenges posed by using 5G networks.

Simultaneously, new entrants are entering the market with revolutionary solutions designed to deal with the precise safety necessities of the evolving telecommunications platform. This aggressive environment fosters innovation as businesses strive to distinguish themselves by way of growing contemporary safety technologies capable of securing 5G infrastructures. Regulatory concerns also are considerable market aspects impacting the 5G security platform. Governments and regulatory bodies worldwide are spotting the important importance of securing 5G networks, which function as the spine for numerous important applications. This has brought about the implementation of stringent cybersecurity regulations and requirements that organizations need to adhere to. Compliance with those regulations is a driving force behind the adoption of advanced safety features, shaping the market as a reaction to the evolving regulatory platform. Strategic collaborations and partnerships amongst telecommunications groups, cybersecurity carriers, and different industry stakeholders are gambling a distinguished function in shaping the 5G security marketplace.

The interconnected nature of 5G networks demands a collaborative approach to cope with safety challenges comprehensively. These partnerships intend to create incorporated answers that seamlessly embed security features into the 5G infrastructure, ensuring a cohesive and holistic approach to cybersecurity. The collaborative efforts of enterprise gamers contribute to the improvement of complete protection answers tailor-made to the unique necessities of 5G networks. The fee of imposing sturdy safety features is an important market element that groups must remember. While the requirement for superior safety is obvious, the related costs of deploying and keeping those measures can impact adoption rates. Striking stability between effective security and fee efficiency is a mission that groups face, impacting their selections and shaping the market in phrases of the affordability and scalability of 5G security solutions.

Covered Aspects:

Report Attribute/Metric Details
Market Size Value In 2022 USD 1.4 Billion
Market Size Value In 2023 USD 2.0 Billion
Growth Rate 42.36% (2023-2030)

5G Security Market Overview

5G Security Market Size was valued at USD 1.4 Billion in 2022. The 5G Security market industry is projected to grow from USD 2.0 Billion in 2023 to USD 23.7 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 42.36% during the forecast period (2024 - 2032). Growing ransomware cyber-attacks on IoT devices, increasing attacks on vital infrastructure, and rising security concerns in the 5G network are some of the key drivers propelling the market for 5G security.

Figure 1: 5G Security Market Size, 2023-2030 (USD Billion)

5G Security Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

5G Security Market Trends

Growing ransomware cyber-attacks on IoT devices drives the market for 5G Security.

With the completed or ongoing installation of 5G technology in many countries, data transfer speeds will be five times compared to 4G today. With the increment of speed data transfer, the volume will also increase five times. With this increasing data volume, the chances of breaching will also increase. According to a report from ForgeRock, data records containing usernames and passwords are the foremost seeking information by ransomware goons. According to this report, two billion records comprising usernames and passwords were compromised in 2022, with an increase of more than 36% from the past year. In addition, unauthorized access was the top breach in 2022, accounting for 50% of all breaches. The average cost of a single breach in the U.S. retail sector rose to nearly $3.27 Billion in 2022.

According to our research, cybercrime costs are expected to grow at a CAGR of 19.8% from 2023 to 2030 and are expected to reach USD 31.02 trillion annually by 2030.

Figure 2: Cybercrime Cost, 2022 to 2030, USD Trillion

Cybercrime Cost, 2022 to 2030, USD Trillion

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Personal attacks, corporate attacks, and government attacks fuel this growth. Today where most countries are looking to become self-sufficient with the adoption of digital transformation, cyber threats will also increase exponentially. This technology enablement will be enhanced with the integration of 5G in the network systems, which needs to be catered to by 5G security solution providers in the coming years.

5G Security Market Segment Insight

5G Security Verticals Type Insights

Based on verticals type, the 5G Security market segmentation includes manufacturing, healthcare retail, automotive & transportation, and public safety. The manufacturing segment dominated this market with a share of 33.2% in 2022 and is also expected to propel the market at a CAGR of 40.73% during the forecast period. Industry 4.0 is being adopted and used more frequently is boosting the demand for 5G services to run the equipment remotely and, in turn, raising the requirement for security solutions. The adoption of better connection solutions in the industrial sector has expanded due to advancements in automation and software-based processes. Many operators have focused on protecting their carrier networks, considering the rise in network threats. Following the bank heist, O2 Telefonica in Spain hired 660 analysts and 1,100 security personnel in 7 Security Operations Centers worldwide.

Figure 3: 5G Security Market, by Verticals, 2022 & 2030 (USD Billion)

5G Security Market, by Verticals, 2022 & 2030

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Furthermore, the healthcare category is projected to dominate the market with significant growth at a CAGR of 41.38% in the upcoming years. The use of medical technology in healthcare is quickly changing because of the Internet of Medical Things, a network of connected medical devices, software, systems, and services. With the 5G connection, healthcare firms are utilizing the internet of medical things to enhance remote patient care and automate clinical workflow management. Healthcare businesses are utilizing the internet of medical things to enhance remote patient care and automate clinical workflow management with 5G security solutions.

Due to the reduced latency that 5G technology offers, telemedicine is anticipated to be made possible. Moreover, 5G is anticipated to enable telesurgery because of its decreased latency and developments in robotics and patient data processing. These elements are encouraging for category expansion.

5G Security by Component Type Insights

The 5G Security market segmentation includes solutions and services based on component type. The solution segment dominated this market with a significant share of 62.1% in 2022 . This segment is also anticipated to drive the market at a CAGR of 43.21%. The end-user enterprises' rapid adoption of 5G security solutions to safeguard their private networks is one of the key drivers driving the segment's expansion. Major market players are focusing on creating 5G security solutions to defend the enterprise network architecture further and secure the networks. These potential security consequences raise the potential cyber risks associated with these devices. Due to the emergence of 5G, organizations now want network security solutions that can protect these 5G-connected devices.

Furthermore, as solutions must be deployed on several levels, including devices, air interface equipment, cloud RAN infrastructure, mobile backhaul facilities, and more, the 5G security market must be resilient.

Throughout the projection period, the services segment is anticipated to have profitable market expansion at a CAGR of 41.1%. A comprehensive, unconventional, flexible, and scalable end-to-end system is demonstrated by 5G. Customers who use 5G services can access applications that support the Internet of Things, extremely quick and reliable communications, and broadcast-like services. The market for services is growing as a result of the widespread adoption of 5G services. Businesses adopting 5G services have access to applications that support the Internet of Things, real-time communications, ultra-reliable communications, and broadcast-like services.

5G Security by Deployment Insights

Based on deployment type, the 5G security market is segmented into cloud and on-premises. The cloud segment holds most of the market share and is projected to dominate with a CAGR of 43.98% through the forecast period. The use of cloud-based installations to provide security services remotely has grown in popularity in recent years. A few benefits of 5G security include significant performance gains across applications, including cloud-based resources, network slicing, virtualization, and other cutting-edge technology. Also, depending on the consumption of cloud-based 5G security services, the cloud services are implemented based on the client's needs. These elements are encouraging for the segment's growth during the projection period.    

Furthermore, throughout the projected period, the on-premise segment is also anticipated to experience a sizable CAGR of 40.9%. One primary driver propelling the segment's growth is the ability of on-premises 5G security solutions to validate and safeguard the 5G network connections inside organizations. Thanks to on-premises technologies, businesses may more easily assess potential risks on their premises.

In addition to providing 5G networks with quick speeds, 5G security solutions also aid in improving client data privacy. To prevent fraud on 5G networks, enterprises are implementing on-premises 5G security solutions.  

5G Security Regional Insights

This market has been segmented by region into North America, Europe, Asia-Pacific, and the rest of the world. The North American region is estimated to hold its dominant position with a share of 40.2% in 2022 and is expected to register significant growth at a CAGR of 40.5% through the forecast period. Moreover, A10 Networks, Inc., Palo Alto Networks, and AT&T are a few of the top companies in the sector that are fueling regional expansion. Manufacturing firms' growing adoption of 5G security solutions to thwart potential threats on 5G networks presents growth opportunities for 5G solution providers in the region, supporting the expansion of the North American market. The US, Canada, and Mexico comprise the North American market. The US is expected to dominate the market, with Canada expected to have the quickest growth rate over the analyzed time frame.

The Asia-Pacific region is also estimated to be the second-highest region through the forecast period. This region is anticipated to grow at a CAGR of 46.8% through the forecast period. The enormous population of the Asia Pacific area has given telecom providers access to a sizable pool of mobile subscribers. The region has the most significant proportion of mobile customers ly, and over the coming years, its subscriber base will increase. Many different nations in this diverse region are undergoing a digital transition. Key technologies, including edge computing, 5G security, and 5G technologies, are expected to be dominated by Asia-Pacific. The size, variety, and strategic leadership of nations like Singapore, South Korea, China, Australia, and Japan are the primary causes of the dominance. China and Japan are the biggest producers of electronics, IT gadgets, networking equipment, and automobiles.  

Figure 4: 5G Security Market, by Region, 2022 & 2030 (USD Billion)

5G Security Market, by Region, 2022 & 2030

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Moreover, the expansion could be attributed to emerging economies like India and Japan being more aware of 5G security solutions. Regional growth is projected to be boosted simultaneously by expanding 5G connections and tight government regulations requiring 5G security procedures.

5G Security Key Market Players & Competitive Insight

The companies providing 5G security solutions aim to incorporate cutting-edge technology like AI, low latency, and others. By integrating cutting-edge technologies, businesses can improve their customer experience and competitive advantage.

Major players in the 5G security market, include A10 Networks, Akamai, Allot, AT&T, Avast, Check Point, Cisco, Clavister, Colt Technology, Ericsson, F5 Networks, ForgeRock, Fortinet, G+D Mobile Security, Huawei, Juniper Networks, Mobileum, Nokia, Palo Alto Networks, Positive Technologies, Radware, and others, are focusing on developing their business strategies

Key Companies in the 5G Security market includes

  • A10 Networks

  • Atos

  • Akamai

  • AMD

  • Allot

  • AT&T

  • Avast

  • Check Point

  • Cisco

  • Clavister

  • Colt Technology

  • Ericsson

  • F5 Networks

  • ForgeRock

  • Fortinet

  • Fujitsu

  • G+D Mobile Security

  • Huawei

  • Juniper Networks

  • Mobileum

  • Nokia

  • Palo Alto Networks

  • Positive Technologies

  • Radware

  • Riscure

  • Spirent

  • Trend Micro

  • ZTE

5G Security Industry Developments

February 2023:Fujitsu has introduced a new 5G vRAN solution that combines NVIDIA GPU technology with its virtualized CU (vCU) and virtualized DU (vDU) technologies. In March 2023, Fujitsu will begin providing the new solution to clients worldwide, including telecommunications operators. The novel approach was created as a component of the "5G Open RAN Ecosystem" (OREC) initiative backed by NTT DOCOMO, who also funded tests for the approach's performance verification and evaluation.

February 2023:AMD releases powerful 5G adaptable processors for telecoms. Moreover, AMD and Xilinx are extending their support for 5G clients to include radio access networks (RAN) applications in addition to core processors. New 5G products and test capabilities will be delivered.

February 2023:For businesses wishing to construct private 5G networks and telecom operators looking to enable integrated, automated, and orchestrated security to protect and defend their assets and clients, Atos, a pioneer in managed security services, today announced the launch of its new "5Guard" security offering.

February 2023:The MG51 and MG51E, Cisco Meraki's first-ever 5G cellular gateways for fixed wireless access (FWA), will be made available to companies as part of a joint venture between Cisco and T-Mobile.

5G Security Market Segmentation

5G Security Component Outlook

  • Solution

  • Services

5G Security Deployment Outlook

  • Cloud

  • On-Premises

5G Security Vertical Outlook

  • Manufacturing

  • Healthcare

  • Retail

  • Automotive & Transportation

  • Public Safety

  • Others

5G Security Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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