MarketsandMarkets forecasts the global 5G security Market size is expected to grow USD 1.3 billion in 2022 to USD 7.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 41.6% during the forecast period.
“By Application, the Virtual and Augmented Reality segment to grow at the highest market share during the forecast period”
Widespread deployment of 5G security could accelerate the adoption of augmented and augmented reality. Although more extensive availability is not the main prerequisite for VR and AR to thrive with 5G, convincing use cases are additionally required to make these technologies viable, despite the fact that the option of 5G gives developers a bigger canvas to plan design experiences. The AR and VR revolution is still in their initial stage. These innovations can possibly reform numerous businesses throughout the upcoming years. They will change how people interact with the surrounding scene, open new experiences, and increase productivity. However, the real-time intelligence of the extended reality (AR/VR) applications requires high bandwidth and ultra-low latency supported by the 5G networks.
“By Organization Size, the Large Enterprises segment to hold the larger market size during the forecast period”
Organizations with more than 1,000 employees are considered large enterprises. Adoption of 5G security solutions in the coming years is expected to grow among large enterprises. Large enterprises are expected to use 5G security solutions for digitizing applications and services, communication security, identity management, privacy, and security assurance. They have begun investing in IT infrastructure and technical expertise to automate their various tasks. This is in response to the increasing amount of data turn-off processes and tasks. 5G’s security architecture enables significant performance benefits and diversity of applications as it controls network slicing, cloud-based resources, virtualization, and other emerging technologies. Network slicing enables different networks and services to share the same infrastructure but are isolated and segregated from each other. Network slicing carves out specific types of network traffic to match various use cases. AI makes sure that data reaches the right user without getting intercepted by cybercriminals who may employ man-in-the-middle, spear phishing, ransomware, spyware, or any other cyberattacks.
“By Region, Asia Pacific to grow at the highest market share during the forecast period”
In Asia Pacific, South Korea, China, Australia, and Japan are the prime countries that have started several 5G-related activities, providing growth opportunities for 5G security vendors in the region. Asian telecom service providers, vendors, and government firms are determined to take the lead in 5G R&D. Various countries in Asia have either initialized the implementation of smart city projects or are in the planning phase. China is the biggest marketplace in the Asia Pacific for developing smart cities. The region’s most important use case is delivering new video services through enhanced broadband. In Japan and South Korea, key drivers are connected vehicles and IIoT, while connected healthcare is the most important driver in India, Australia, and Vietnam. 5G network plays an integral role in advanced technologies, such as IoT and Machine-to-Machine (M2M) communication, and sectors, such as smart cities and industrial automation.
The breakup of the profiles of the primary participants is given below:
- By Company: Tier 1 – 62%, Tier 2 – 23%, and Tier 3 – 15%
- By Designation: C-Level Executives – 38%, Directors– 30%, Others*–32%
- By Region: North America – 40%, Europe – 35%, APAC – 15%, Row – 10%
This research study outlines the market potential, market dynamics, and major vendors operating in the 5G security market. Key and innovative vendors in the 5G security Market include Ericsson (Sweden), Palo Alto Networks (US), Cisco (US), Allot (Israel), Huawei (China), A10 Networks (US), Nokia (Finland), F5 Networks (US), Juniper Networks (US), Spirent (US), Fortinet (US), Mobileum (US), Trend Micro (US), ZTE (China), Akamai (US), Colt Technology (UK), CLAVISTER (Sweden), Radware (Israel), AT&T (US), Riscure (Netherlands), Avast (Czech Republic), G+D Mobile Security (Germany), Check Point (US), ForgeRock (US), Positive Technologies (UK), Cellwise (US), Banu Networks (US), Suavei (US), Cachengo (US), Broadforward (Netherlands), Trilogy (US), Movandi (US), Deepsig (US), EdgeQ (US), Alcan systems (Germany), Mixcomm (Colombia), and Microamp Solutions (Poland).
5G security market is segmented on component, deployment mode, organization size, end user, network component security, architecture, application, vertical, and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; services; key strategies; new service and product launches; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated with the 5G security market.
Key benefits of buying the report
The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall 5G security market and its segments. This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.