5G Security Market is expected to grow at a CAGR of Approximately Over 2022-2030

5G Security Market Overview

With rapid advancements in security functions across various technologies including Mobile Edge Computing (MEC), IoT networks, and mobility infrastructure is expected to set a new milestone in the 5G security market.

The demand for fast network connections is increasing rapidly for establishing real-time and quick connections between connected devices.Some of the leading telecommunication service providers, such as AT&T, Verizon and others, are rapidly adopting 5G networks with the help of 5G security.

These companies are partnering with the leading manufacturers of connected devices to use proactive security solution for 5G networks. The need for using 5G security is increasing as testing is an irreplaceable part of the network establishment, which is boosting the demand for 5G security market.

5G security solution controls new mutual authentication capabilities, additional security mechanisms, enhanced subscriber identity protection, advanced persistent threats and other sophisticated cyber threats.

Such proactive solutions can help security professionals to speed-up threat detection and response and also protect the organizations from such potential data breaches which can cost millions of dollars to recover.

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Impact of COVID-19 Pandemic Outbreak on 5G Security Market

The COVID-19 pandemic outbreak has created disruption in many industries, including the 5G security market. Many private as well as government organizations have allowed their employees to work from home amid the lockdowns, which has created need for monitoring the network security proactively, as people are remotely connected consuming enterprise resources and sharing documents using collaboration tools.

Business are increasingly adopting 5G security solutions to manage such security risks in the new home-working environment. Many operator customers, including ISPs, cable, mobile and fixed-line service providers, are experiencing some strain to deployed 5G network capacity.

The impact of COVID-19 on Ericsson and Nokia will be high as the majority of these vendors have 5G contracts in the US and European countries.Several smartphone OEMs were supposed to launch 5G smartphones for mass consumers, which could have led to the aggressive deployment of base stations worldwide.

However, smartphone production has stopped temporarily. Hence, the smartphone shipment is declining month-on-month, with a 35% decline in January and another 55% in February 2020.

Closure of retail stores and self-isolation has further impacted the sales of 5G smartphones. Consumers and enterprises are expected to show a lack of interest in the adoption of 5G technology due to financial instability as the technology comes with a cost.

Such facts and trends are going to impact the security solutions adoption to protect the 5G network and devices, as well.

5G Security Market: Drivers and Restraints

The global 5G Security market is expected to witness significant growth during the forecast period, which can be attributed to the increasing adoption of 5G security solution for identity management, differentiated security protection, privacy protection and growing demand for data protection worldwide.

The 5G Security technology offers various benefits such as diversified system level protection of IT-aware infrastructure, security as service, and rapid detection and response.

The growing demand for a security monitoring and threat analysis to help the business to protect the integrity of systems and data is expected to create a huge opportunity for the global 5G Security market.

In addition, the need for E2E security for vertical industries from protection to detection and increasing importance of a unified security view across enterprise, are anticipated to drive the 5G Security market growth.

However, as the complexity in network deployment and latency issues, 5G Security solution providers are integrating new technologies within the existing infrastructure, which could poses a bigger challenge.

Lack of technical expertise and low spending on research & development, among other factors, are anticipated to restrict the growth of the 5G security market over the forecast period.

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5G Security Market: Competition Landscape

Some of the prominent players in 5G security market are –

• AT&T Inc.
• Blackberry
• CISCO Systems Inc.
• DigitCert Inc.
• F5 Networks Inc.
• Gemalto N.V.
• Qualcomm Incorporated
• VMware Inc., among others.

5G Security Market: Regional overview

Based on the region, 5G Security market has been segmented into North America, Europe, East Asia Latin America, South Asia & Pacific, and Middle East & Africa. Among these regions, North America, and Europe have held comparatively higher market shares in the global 5G security market due to surging demand for 5G security for implementing 5G networks, in this regions.

The East Asia region is predicted to grow at the highest CAGR due to increasing investments in telecommunication infrastructure and digital transformation, in China, Japan and South Korea.

The 5G Security market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.

The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with 5G Security market attractiveness as per segment.

The 5G Security market report also maps the qualitative impact of various market factors on 5G Security market segments and geographies.

The report covers exhaustive analysis on:

• 5G Security Market Segments
• 5G Security Market Dynamics
• 5G Security Market Size
• Supply & Demand Analysis
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Impact of COVID-19 on market growth
• Value Chain Analysis
• 5G Security Market Drivers and Restraints

Regional analysis includes:

• North America (U.S., Canada)
• Latin America (Mexico, Brazil, Rest of Latin America)
• Europe (Germany, Italy, U.K, Spain, France, BENELUX, Russia, Rest of Europe)
• East Asia (China, Japan, & South Korea)
• South Asia & Pacific (India, ASEAN, Australia & New Zealand, Rest of South Asia)
• Middle East and Africa (GCC Countries, Turkey, South Africa, Rest of MEA)

5G Security Market: Segmentation

The 5G Security market has been segmented on the basis of component, application, industry and region.