Fifth-generation (5G) cellular is poised to transform the ICT industry through substantially enhanced mobility services, massively scalable Internet of Things (IoT) networks, and support for critical apps and services by way of ultra-low latency communications. With these anticipated improvements come great responsibilities for privacy and security. The 5G Security Market must be robust as solutions need to be deployed on multiple levels including devices, air interface equipment, cloud RAN infrastructure, mobile backhaul facilities, and more.
We see one of the biggest 5G security issues at the application layer, which is where many apps and services are supported. With substantially greater bandwidth and ultra-low latency, 5G supports many new and improved apps and services such as untethered Virtual Reality and anytime, anywhere telepresence. Whether it is new immersive technologies or extension of existing apps such as Voice over 5G, there are some common security issues (such as data privacy) and some completely different issues, such as virtual identity theft in VR.
Leading companies such as Palo Alto Networks, Cylance Inc. (BlackBerry), and others are poised to capitalize on the market for securing 5G based networks, systems, applications, and services. This includes the 5G security market for hardware, software, and data protection. With recent high-profile events such as alleged espionage on the part of Huawei, cybersecurity is also getting extreme attention at the government level.
By way of example, The Internet of Things Cybersecurity Improvement Act of 2019 is being introduced in the Senate by the U.S. Among other areas, the Act is intended to address IoT device security relative to Secure Development, Identity management, Patching, and Configuration Management. Quoting opinions from market leaders (such as Cloudflare, Symantec, VMware, and others), the bill asserts a desperate need for cybersecurity regulation. Many of these efforts will be focused on 5G related networks and systems in support of IoT.
- Wireless carriers
- Security companies
- Device manufacturers
- Data management companies
- Device management companies
- Network infrastructure companies
Select Report Findings:
- The overall global 5G security market will reach $6.5B USD by 2025
- Infrastructure security will be leading segment by revenue at $2.56B USD
- The fastest growing segment will be communications security at 49.2% CAGR
- North America will be the leading region projected to reach $2.9B USD by 2025