Press Release Description

The Global 5G Security Market Expected to Grow Faster as Increasing Investment in 5G Network is Creating New Opportunities

The Global 5G Security Market size is around USD 2.2 billion in 2023 and anticipated to grow at a CAGR of around 39.25% during the forecast period of 2023-28, cites MarkNtel Advisors in the recent research report. The progressive features of 5G, such as enhanced data speeds, larger capacity, and minimal latency, have made it indispensable for numerous industries like Healthcare, Telecommunications, Banking, Financial Services and Insurance (BFSI), and others. These enterprises rely on 5G to rationalize their business operations effectively.

According to the World Economic Forum, investments in 5G networks to reach USD 1 trillion worldwide by 2025. And these investments are likely to have an economic impact of more than USD13 trillion by 2035. Therefore, countries such as China, South Korea, and others are progressively rolling out 5G networks to meet the growing demand for improved connectivity and to harness the benefits offered by the 5G network. This growing rollout of 5G networks is driving the acceptance of numerous data-intensive applications, hence, necessitating the establishment of a secure and dependable transmission network to mitigate potential cyberattack risks.

Moreover, in several countries like South Africa, Argentina, etc., consumers still hinge on 4G networks to gain access to an extensive range of applications. However, the core restrictions of 4G, including slower speeds and inferior bandwidth, are spurring the speedy setting out of 5G networks across the globe. The increasing deployment of the 5G networks delivers faster connections, increases throughput, and facilitates global connectivity. However, the data transmitted over this network is susceptible to cyber threats. Thus, the end-users opt for security solutions to protect the organization & their critical data from unauthorized access or malware attacks.

Further, governing authorities of nations like India, the US, and others are enacting stringent legislation to safeguard vital data from breaches and other detrimental consequences. As a result, telecom operators within their jurisdictions are compelled to integrate security solutions into their 5G networks to minimize the occurrence of data breaches. Additionally, there has been a notable surge in global cyberattacks. These persistent cyber threats aimed at pilfering crucial user information have spurred operators to actively seek network security solutions, further states the research report, “Global 5G Security Market Analysis, 2024.”

Global 5G Security Market

Segmentation Analysis

Cloud-Based Deployment Expected to Outperform On-Premise Deployment

Based on the deployment, the market is further bifurcated into, cloud and on-premise. Among them, cloud deployment is commonly favored in the 5G network security market due to compelling factors like cost-effectiveness, elastic scaling, and others. Cloud solutions automatically scale resources up or down based on demand, ensuring optimal performance during peak traffic periods and efficient resource utilization during periods of lower demand. As a result, telecom operators are inclined towards cloud-based solutions to maintain the scalability of the network & its security. Likewise, these solutions accommodate various 5G use cases and network configurations, rendering them ideal for addressing the diverse requirements of numerous industries and applications.

Furthermore, these solutions are crucial for information technology (IT) and telecom organizations seeking to safeguard their 5G networks without the complexities and delays associated with on-premises installations.  Due to several benefits associated with cloud-based deployment, it is expected to lead the Global 5G Security Market.

North America Expected to Hold Substantial Market Share in Global 5G Security Market

Geographically the Global 5G Security Market is bifurcated into North America, South America, Europe, The Middle East & Africa & Asia-Pacific. Among them, North America is witnessing remarkable growth due to the prompt deployment of 5G networks in the developed countries of the region. 5G networks in North America support vast infrastructure, including utilities, transportation, and emergency services. Therefore, the amalgamation of security solutions within these networks is essential for national security and public safety.

Moreover, the nations in the region have seen noteworthy setting out of Internet of Things (IoT) devices in countless industries, such as smart cities, agriculture, healthcare, and others. The safekeeping of these IoT ecosystems is an uppermost priority, contributing to the demand for 5G security solutions in North America.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including Telefonaktiebolaget LM Ericsson, Palo Alto Networks, Thales Group, A10 Networks Inc., Allot, AT&T Intellectual Property, F5, Inc., Check Point Software Technologies Ltd., Fortinet, Inc., Spirent Communications, Jupiter Networks Inc., Akamai Technologies, Zscaler, Inc., Trend Micro Incorporated, Vmware, and others (Blackberry Limited, McAfee, etc.) are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the market?
  3. What key factors would propel and impede the industry across the globe?
  4. How has the industry been evolving in terms of geography & product adoption?
  5. How has the competition been shaping across various regions?
  6. How have the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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