5G Security Industry Forecasted at $9.2 Billion by 2028, Witness 38.9% CAGR: Rising IoT Connections and Security Concerns Driving the Global Market

Dublin, Feb. 08, 2024 (GLOBE NEWSWIRE) -- The "5G Security Market by Offering (Solution and Services), End User (Telecom Operators and Enterprises), Network Component Security (RAN and Core Security), Architecture, Application, Vertical and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global 5G security market is estimated at USD 1.7 billion in 2023 and is projected to reach USD 9.2 billion by 2028, at a CAGR of 38.9% from 2023 to 2028. Various key players in the ecosystem have led to a competitive and diverse market. The 5G security market is in the nascent stage and fuelled by trends, such as security concerns in the 5G network, increasing IoT connections further increasing the demand for enhanced security requirements, increasing ransomware attacks on IoT devices, and rising attacks on critical infrastructure. 5G is among the major enablers of IoT. With increasing investments in 5G infrastructure, there has been a massive growth in the adoption of IoT devices.

By vertical, manufacturing segment to hold the largest market size during the forecast period

In the manufacturing sector, businesses are utilizing a new generation of M2M technologies, mobile apps, and hosting services. Additionally, the software is heavily used by industrial firms to manage supply chains, automate operations, support R&D, and digitalize products and services. Cyberattacks compromise data confidentiality through data loss and system failures, which eventually slow down manufacturing. Therefore, the manufacturing industry vertical needs to use 5G security solutions to shield its entire production process and network infrastructure from the increasing volumetric cyberattacks.

Based on architecture, the 5G NR Non-standalone segment is expected to register the largest market size during the forecast period

The non-standalone architecture is a 5G service that is built on an existing 4G network rather than functioning independently. It ties the 5G radio networks' control signaling to the 4G core. This architecture combines the present LTE and EPC infrastructure core network with the 5G Radio Access Network and its New Radio interface, making the N technology available without network replacement. Only 4G services are supported by the configuration; however, they benefit from the 5G New Radio's capacities. LTE RAN and core networks are used in conjunction with the 5G network in 5G NR non-standalone systems. They are presently undergoing testing in South Korea and China. These networks allow service providers to offer services quickly and affordably.

Middle East and Africa to register the third highest growth rate during the forecast period

Several nations, including Israel, the UAE, Qatar, the KSA, and South Africa, are part of the Middle East and Africa region. Numerous oil and gas sectors in these nations are important to the economic development of the area.

Dubai is one of the Middle East countries with smart cities as one of their key priorities. The other cities, including Doha, are said to be leading the way in this global economy. Within the following five years, the nations of the Middle East and Africa also want to have the most technologically sophisticated and connected smart cities in the world. Roads, parking lots, housing, electricity grids, and government services will all be automated and connected because these infrastructures require improved bandwidths, lower latency, and more operational efficiency.

Research Coverage

The market study covers the 5G security market size across different segments. It aims at estimating the market size and the growth potential across different segments, including offerings (solutions and services), architecture, network security, end user, application, vertical, and region. The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.

Key Attributes

Report AttributeDetails
No. of Pages247
Forecast Period2023-2028
Estimated Market Value (USD) in 2023$1.7 Billion
Forecasted Market Value (USD) by 2028$9.2 Billion
Compound Annual Growth Rate38.9%
Regions CoveredGlobal

Market Dynamics

  • Drivers
    • Rising Security Concerns in 5G Network
    • Increasing Demand for IoT Connections
    • Growing Ransomware Attacks on IoT Devices
    • Rising Threat to Critical Infrastructure
  • Restraints
    • Delay in Standardization of Spectrum Allocation
    • Expensive Security Solutions
  • Opportunities
    • Growth in Operator Investments for Dynamic Infrastructure
    • Demand for Private 5G Services Across Sectors and Governments
  • Challenges
    • Uncertainty Around Return on Investment
  • Industry Trends
    • Evolution of 5G Security

Value Chain Analysis

  • Telecom Equipment Manufacturers
  • Technologies Studied
    • 5G Radio
    • 5G Security
    • 5G Transport
    • NFV/SDN/Cloud
    • System Integrators/Managed Service Providers
    • End-users

Ethical Considerations Regarding 5G Security

  • Biases and Fairness
  • Privacy and Security
  • Intellectual Property
  • Accountability and Responsibility
  • Societal and Economic Impact

Technology Analysis

  • Technologies Related to 5G Security
    • Wi-Fi
    • Wimax
    • Network Slicing in Radio Access Network
    • Network Slicing in Core Network
    • Network Slicing in Transport Network
    • Small Cell Networks
    • LTE Network
    • Citizens Broadband Radio Service (CBRS)
    • Multefire

Case Study Analysis

  • Use Case 1: Mobile Service Provider Implemented A10 Networks' Solutions to Scale Out Security for Massive 5G Rollout
  • Use Case 2: City of Williamsburg Implemented Palo Alto Networks' Solutions to Prevent Cyber Threats
  • Use Case 3: Ericsson Helped Erillisverkot Provide Next-Generation Public Safety Networks

Companies Profiled

  • Allot
  • A Networks
  • Akamai Technologies
  • AT&T
  • Avast
  • Alcan Systems
  • Benu Networks
  • Broadforward
  • Cisco
  • Colt Technology Services
  • Clavister
  • Check Point Software Technologies
  • Cellwize
  • Cachengo
  • Deepsig
  • Ericsson
  • EdgeQ
  • F Networks
  • Fortinet
  • Forgerock
  • G+D Mobile Security
  • Huawei
  • Juniper Networks
  • Mobileum
  • Movandi
  • Mixcomm
  • Microamp Solutions
  • Nokia
  • Palo Alto Networks
  • Positive Technologies
  • Radware
  • Riscure
  • Spirent
  • Suavei
  • Trend Micro
  • Trilogy
  • ZTE

For more information about this report visit https://www.researchandmarkets.com/r/iu0ifi

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Global 5G Security Market