Major players in the 5g security market are Telefonaktiebolaget LM Ericsson, Palo Alto Networks Inc., Cisco Systems Inc., Allot Ltd., Huawei Technologies Co. Ltd., A10 Networks, Nokia Networks, F5 Networks Inc., Juniper Networks Inc., Spirent Communications, Fortinet, Mobileum Inc., Trend Micro Inc., Radware Inc., Riscure, G+D Mobile Security, China Mobile Ltd., Cloudflare Inc., DigitCert Inc., and Infineon Technologies AG.
The global 5G security market is expected to grow from $7.04 billion in 2022 to $8.26 billion in 2023 at a compound annual growth rate (CAGR) of 17.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The 5G security market is expected to grow to $15.78 billion in 2027 at a CAGR of 17.6%.
The 5G security market includes revenues earned by entities by providing improved cryptography, enhanced secure roaming, malware protection, virus and threat protection services.The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
5G security refers to security controls that handle multiple dangers, such as increased subscriber identity protection with new mutual authentication capabilities and extra security procedures. 5G security has designed to address threats faced in today’s 4G/3G/2G networks.
North America was the largest region in the 5G security market in 2022. The regions covered in the 5G security report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main components of 5G security are solutions and services.Solutions refer to securing interconnections between 5G networks and secure interoperability services (backward and forward compatibility), and also the connections on different 5G slices, thus ensuring the QoS and QoE are maintained.
The organization size is large enterprises and SMEs.The deployment types are on-premises and cloud.
The various applications involved are virtual and augmented reality, connected automotive, smart manufacturing, smart cities and others, which are used in verticals such as manufacturing, healthcare, retail, automotive and transportation, BFSI and others.
The increasing cyber-attacks are expected to propel the growth of the 5G security market going forward. A cyber attack refers to an attack made against a single computer, a network, or many systems by hackers using one or more computers. 5G security provides security and privacy benefits, such as spoofing and anti-tracking measures, as a result, increasing cyber-attacks increase the demand for the 5G security market. For instance, in 2021, according to the Federal Bureau of Investigation’s Internet Crime Report, a US-based federal agency for investigating cyber attacks and intrusions, in the USA, complaints registered under cybercrimes reached a total of 84.73k cases, showing an increase of 7% from 2020. Therefore, the increasing cyber-attacks are driving the growth of the 5G security market.
Technological advancements are a key trend gaining popularity in the 5G security Major companies operating in the 5G security market are focused on developing new technological solutions to strengthen their position.For instance, in February 2022, Palo Alto Networks, a US-based company operating in 5G security launched Cortex® XSIAM, the first AI-powered SOC platform deployed by security organizations.
This will transform security operations by enabling organizations to build an intelligent data foundation and also detects emerging threats across the entire security infrastructure. This collects granular data and alerts to drive machine learning for natively autonomous response actions for the detection of highly sophisticated, emerging threats.
In February 2021, Keysight Technologies, Inc.US-based company which optimizes networks and brings electronic products to market acquired Sanjole for an undisclosed amount.
With this acquisition, Keysight Technologies Inc. is expected to deliver a comprehensive, innovative 5G solutions portfolio at the forefront of advancing communications technology. Sanjole is a US-based company operating in 5G security.
The countries covered in the 5G security market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The 5G security market research report is one of a series of new reports that provides 5G security market statistics, including 5G security industry global market size, regional shares, competitors with a 5G security market share, detailed 5G security market segments, market trends and opportunities, and any further data you may need to thrive in the 5G security industry. This 5G security market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.