Global 5G Security Market - 2023-2030

Market Overview

The Global 5G Security Market reached US$ 1.4 billion in 2022 and is expected to reach US$ 21.4 billion by 2030, growing with a CAGR of 40.7% during the forecast period 2023-2030.

The 5G security market drivers include increased connectivity, the evolving cyber threat landscape, critical infrastructure protection, enterprise and industrial adoption and others. Furthermore, 5G technology enables the development and deployment of innovative applications such as autonomous vehicles, augmented reality and remote healthcare.

These applications often involve sensitive data and critical operations, making security a fundamental requirement. The increasing adoption of such applications creates a demand for robust security solutions.

The solution holds nearly 65.25% of the global 5G security market. These solutions form the foundation of protective measures, providing the necessary technologies, tools and software to secure 5G networks and the associated infrastructure.

However, the services segment plays a vital role in complementing and enhancing the effectiveness of security solutions, providing expertise and ongoing support for organizations in their 5G security journey.

Market Dynamics

Growing Cybersecurity Attacks

Security breaches and hacks from sources that are increasingly widespread in the workplace, such as mobile and IoT devices, are on the rise, according to recent trends, the consequences of a global pandemic and cybersecurity statistics. Additionally, COVID-19 has increased the use of remote workers, opening new doors for cyberattacks.

Therefore various public and private organizations are investing in adopting 5G security systems to prevent cybersecurity attacks. For instance, British Telecom (BT), authorized by the UK government to certify its systems and networks, employs 3,000 security specialists across 15 security operations centers across the globe. British Telecom (BT) mentions using artificial intelligence (AI) to safeguard clients' data. Its machine-assisted cyber threat-hunting technology uses visual interfaces to locate and understand cybersecurity threats across enormous datasets. These investments in enhancing network security measures facilitate the expansion of 5G security solutions.

Stringent Regulations

Stringent regulations often include specific security requirements and standards that organizations must meet to achieve compliance. Regulatory bodies and governments set these mandates to ensure the secure deployment and operation of 5G networks. Organizations operating in the 5G space must invest in security solutions to meet these compliance mandates, driving the demand for 5G security products and services.

Furthermore, stringent regulations help mitigate risks associated with 5G networks by setting high-security standards and best practices. Compliance with these regulations instills trust among consumers, businesses and stakeholders, ensuring adequate security measures are in place. To gain and maintain trust, organizations in the 5G ecosystem need to invest in comprehensive security solutions, which further drive the growth of the 5G security market.

Growing Irregularities In Spectrum

Irregularities in spectrum allocation can lead to interference and congestion issues in 5G networks. Multiple entities operating in the same spectrum band without proper coordination can result in signal interference, degraded network performance and reduced security effectiveness. Interference and congestion can make it more challenging to detect and respond to security threats, impacting the overall security posture of the network.

Furthermore, spectrum irregularities can lead to a lack of collaboration and information sharing among stakeholders in the 5G ecosystem. Effective security requires coordinated efforts and timely exchange of threat intelligence, vulnerabilities and best practices. When irregularities create fragmented spectrum management, it becomes challenging to establish trust and foster collaboration, hampering the development and implementation of robust security measures.

COVID-19 Impact Analysis

The coronavirus (COVID-19) pandemic has been a public health concern since December 2019. COVID-19 was declared a pandemic by the World Health Organization in March 2020, affecting 213 countries and territories worldwide. Rising COVID-19 instances are causing the global economic downturn. Every sector of the economy is feeling the effects of COVID-19, including the global software business. This is anticipated to indirectly hurt the global 5G security industry throughout the two years.

Low cash flows are anticipated due to insufficient industrial activity, further affecting project finance. However, COVID-19 has a marginally negative effect on the market due to manufacturers delaying the rollout of 5G networks across the pandemic. However, improving market growth conditions are expected to rebuild the previous 5G Security momentum in the forecast period.

Segment Analysis

The Global 5G Security Market is segmented based on component, deployment mode, architecture, network component security, application, end-user and region.

Growing Technological Advancements have escalated The Demand For 5G Security Services Among Various End-User Industries

Services are expected to grow fastest in the Global 5G Security Market in the forecast period. The service segment is divided into Consulting, Implementation and Support & Maintenance. As a result of evolving technical advancements, end-user demand for services has increased. For telecom providers and business clients, a 5G security network is an unknown territory that must be managed from beginning to end.

Specialized expertise and skill sets are required to construct 5G security networks, which has boosted demand for consulting, installation, support and maintenance services. These services help clients secure their 5G network infrastructure so they may accomplish their intended business objectives.

For instance, Nokia cybersecurity consulting offers in-depth 5G security expertise and one of the world's only end-to-end 5G security assessment and insight capabilities to help transform the customer's 5G security operations and stay ahead of cybersecurity threats. The firm possesses the expertise required to handle cyber threats and safeguard the security and privacy of sensitive corporate data, vital infrastructure and every other component of the critical network.

Geographical Analysis

Asia-Pacific's Growing Need To Protect Websites, Applications and Endpoints From Unauthorized Access

Asia-Pacific'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. Various nations undergoing digital transformation can be found in this diverse region. Leading technologies, including 5G, edge computing, blockchain and 5G security, are expected to dominate 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.

Japan and China are the two biggest economies that manufacture vehicles, IT, networking and electronic devices, holding nearly 50% at the regional level. The Chinese government has allocated substantial funds to support the research and development of 5G security technologies and solutions. Chinese companies such as Huawei and ZTE are actively involved in developing and implementing 5G security solutions both domestically and internationally.

Competitive Landscape

The major global players include: Ericsson, Palo Alto Networks, Cisco, A10 Networks, Huawei, Nokia, F5 Networks, Juniper Networks, Trend Micro and G+D Mobile Security.

Why Purchase the Report?

• To visualize the Global 5G Security Market segmentation based on component, deployment mode, architecture, network component security, application, end-user and region, and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous 5G security market-level data points with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global 5G Security Market Report Would Provide Approximately 85 Tables, 90 Figures And 219 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies