The global 5g security market size was US$ 574.1 million in 2021. The global 5g security market is forecast to grow to US$ 4.9 billion by 2030 by registering a compound annual growth rate (CAGR) of 41.5 % during the forecast period from 2022 to 2030.
Factors Influencing the Market
The rising demand for high-speed networking and machine-to-machine connectivity will primarily drive the growth of the 5g security market during the study period. Additionally, the market is expected to witness ample growth opportunities due to the rapid production of linked IoT devices and the accelerating need for data security from various industrial verticals.
Growing cases of data breaches and cyber-crimes will offer ample growth opportunities for the 5g security market during the study period. The network that could cause major losses for businesses and service providers is the main concern of CIOs. The new network infrastructure was built using SDN, NFV, and cloud-native design. In a 5G network that is cloud-based, the vast majority of network services are implemented through public and private cloud infrastructure. Thus, it will have a significant contribution to the 5g security market during the study period.
The rising efforts towards the development of smart homes and smart cities will benefit the 5g security market during the study period. On the flip side, high investment costs and stringent government regulations may limit the growth of the 5G security market during the analysis period.
Regional Analysis
North America is projected to dominate the 5G security market, owing to the early adoption of the 5G service network and a significant rise in the range of telecom firms in the region. Further, the growing adoption of new technologies, combined with the rising demand for smart homes in North America, will be a significant contributor to the 5G security market.
Europe is expected to be a profitable region for the 5G security market due to the rising expansion of the region and the rigorous R&D efforts.
COVID-19 Impact Analysis
Due to the COVID-19 pandemic, data breaches increased at a substantial pace. As a result, the 5G security market witnessed ample growth opportunities in the wake of the pandemic. Apart from that, various organizations adopted technologies to operate amid the pandemic terror. Thus, data security across banking, healthcare, manufacturing, and other sectors, increased substantially, which positively influenced the 5G security market.
Competitors in the Market
• F5 Networks (US)
• A10 Networks (US)
• Akamai (US)
• Allot (Israel)
• AT&T (US)
• Avast (Czech Republic)
• Check Point (US)
• Cisco (US)
• Clavister (Sweden)
• Colt Technology (UK)
• Ericsson (Sweden)
• Other Prominent Players
Market Segmentation
The global 5g security market segmentation focuses on Size, End-User, and Region.
By Size Into:
• large enterprises
• SMBs
By End-user:
• Manufacturing
• Healthcare
• Energy and Utilities
• IT & Telecom
• Automotive and Transportation
• Supply Chain and Logistics
• Government and Public Safety
• Agriculture
• Others
By Regional Outlook
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America