5g security market

5G Security Market Share, Size, Trends, Industry Analysis Report, By Component (Solution, Services); By Deployment (On-premises, Cloud); By Region; Segment Forecast, 2022 - 2030

  • Published Date: Jul 2022
  • Pages: 118
  • Format: PDF
  • Report ID: PM2514
  • Base Year: 2021
  • Historical Data: 2018-2020

Report Summary

The global 5G security market was valued at USD 1.10 billion in 2021 and is expected to grow at a CAGR of 41.4% during the forecast period. 5G technology is the advanced version of mobile networking that features similar to other generation technologies such as radio waves and towers.

5G Security Market Share
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5G incurs an exclusive encoding scheme that provides various other advantages, such as it offers 100 times higher speed than 4G and enables more devices to connect to mobile networks. Further, the fifth-generation technology also provides much lower network latencies and requires less energy than 4G, which is useful for resource-constrained devices.

Moreover, with the introduction of Internet of Things (IoT) devices, 5G-enabled devices function with a limited battery lifespan and incur high-performance network links to connect with various cloud-based servers. Therefore, IoT in fifth-generation technology has made it easier to reach out to remote locations where traditional network connectivity is inaccessible or expensive.

On account of the outbreak of COVID-19, there has been a massive impact on the market for fifth-generation security. Due to the introduction of lockdown across the globe, people are working from home, and therefore, there is a high risk of cyber-attack. With the adoption of fifth-generation technology worldwide, the 5G connected devices are more prone to dangerous cyber-attacks. Moreover, the issue of botnets, faster data extraction, and breach of individual privacy have also been impacted due to the introduction of 5G.

Industry Dynamics

Growth Drivers
The 5G security market is driven by various factors, such as network slicing and substantial security augmentation compared to 4G and LTE. Fifth-generation technology prioritizes the data privacy of organizations and individuals where the data is encrypted. Therefore, it gets difficult for hackers to decrypt the information. Moreover, the data is routed through virtual hubs and switches instead of any hardware component, making it speedily accessible.

Furthermore, owing to the adoption of fifth-generation technology, this is expected to attract customers, business users, and mobile network operators under one platform. This will establish an interdependent relationship for digitized and automated business processes of enterprises, control, and operations of the machinery of companies. In addition, there will be an improved cyber-physical interdependency among the telecom networks and smart connectivity of other infrastructure providers, which will aid in enabling innovative access to the mobile network.

5G Security Market
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Report Segmentation

The market is primarily segmented based on component, deployment, and region.

By Component

By Deployment

By Region

  • Solution
  • Services
  • On-Premises
  • Cloud
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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The services segment is expected to witness the fastest growth

The 5G security market is categorized into solutions and services based on components. The services segment is expected to witness lucrative market growth during the forecast period. 5G exhibits a comprehensive, non-traditional, flexible, and scalable end-to-end system. The 5G services offer customers Internet of Things (IoT) enabled applications, extreme real-time communications (RTC), and ultra-reliable communications, and broadcast-like services.

Further, fifth-generation services also cater to the increasing market demand for on-the-go mobile services deployed in automobiles, which provide in-vehicle services and help during vehicle diagnostics and autonomous driving applications.

Moreover, fifth-generation security is enabled across various industry verticals, such as Solutions targeting specific industry verticals automotive, healthcare, media, financial services, and others. The 5G security services provide agility to form flexible business models and innovative partnership models between the stakeholders.

Cloud segment accounted for the largest market share in 2021

Based on deployment type, the 5G security market is categorized into on-premises and cloud deployment. The cloud segment accounted for the largest market share in fifth-generation security and is expected to continue growing further during the forecast period. This is attributed to the increasing adoption of fifth-generation technology services for Internet of Things (IoT) devices. These devices utilize less battery power and require high-performance network links to communicate with cloud-based servers.

The 5G security provides various benefits, such as significant performance benefits across applications such as network slicing, cloud-based resources, virtualization, and other developing technologies. There has been increased adoption of cloud-based deployments in the recent few years to enable users to safeguard their data privacy.

The cloud-based security deployment enables data privacy of organizations and individuals where the data is encrypted. Therefore, it gets difficult for hackers to decrypt the information. Further, The cloud deployment type aids benefits in managing DNS, rerouting traffic, and safeguarding the website traffic. Moreover, The cloud services are deployed based on the client's requirement, depending on the usage scale of cloud-based 5G security services.

The market demand in the Asia Pacific is expected to witness significant growth

There has been a significant growth of 5G security in the Asia-Pacific region, and it is expected to garner substantial market growth during the forecast period. This is attributed to the increased adoption of next-gen technologies such as artificial intelligence (AI), cloud computing, and robotics across the Asia-Pacific region. Further, there has been a rapid change in real-time automation and users' increased usage of cloud computing applications. Thereby strengthening the growth of the security market.

Moreover, the rapidly increasing urbanization in the Asia-Pacific region is stimulating strategic lead in producing IT, automobiles, networking, and electronic products. The growing adoption of emerging technologies such as cloud, big data, IoT, and digital transformation is propelling the industry forward and is expected to boost further over the forecast period. The ongoing attempts to enhance student information system solutions with sophisticated technologies and the introduction of new solutions from prominent businesses are expected to benefit the market in the region over the forecast period.

Competitive Insight

Some of the major players operating in the global market include 5 Networks Inc., Alcan systems, AT&T Inc., Check Point Software Technologies Ltd., CISCO Systems Inc., Ericsson, IBM Corporation, Intel Corporation, Juniper Networks Inc., Microamp Solutions, Mixcomm, NEC Corporation, Qualcomm Incorporated, Spirent, and Symantec Corporation.

Recent Developments

In December 2021, Ericsson launched the Authentication Security Module solution to strengthen its security for user privacy. This module will provide end-user data privacy to developers and consumers whoever is involved in this ecosystem.

In October 2021, IBM Corporation entered into a collaboration with Palo Alto Networks to help operators build secured 5G networks.

In October 2021, IBM Corporation announced its collaboration with major telecom operators such as Cisco, Boston Dynamics, Palo Alto Networks, and Turnium Technology Group, for diversification, and enabling innovation in the digital world.  The main aim of the collaboration was to encourage the adoption of 5G technologies.

5G Security Market Report Scope

Report Attributes

Details

Market size value in 2021

USD 1.10 billion

Revenue forecast in 2030

USD 21.11 billion

CAGR

41.4% from 2022 - 2030

Base year

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD billion and CAGR from 2022 to 2030

Segments covered

By Component, By deployment, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key companies

5 Networks Inc., Alcan systems, AT&T Inc., Check Point Software Technologies Ltd., CISCO Systems Inc., Ericsson, IBM Corporation, Intel Corporation, Juniper Networks Inc., Microamp Solutions, Mixcomm, NEC Corporation, Qualcomm Incorporated, Spirent, and Symantec Corporation

Key Take-Away
Polaris Market Research
5G Security Market Size Global Report, 2022 - 2030