Top leaders in 5G Security Market are Akamai, A10 Networks, Allot, Avast, AT&T, Check Point, Clavister, Cisco, Colt Technology, F5 Networks, Ericsson, ForgeRock, G+D Mobile Security, Fortinet, Huawei, Mobileum, Juniper Networks, Nokia, Positive Technologies, Palo Alto Networks, Radware, Spirent, Riscure, Trend Micro and ZTE among others.
Pune, June 14, 2021 (GLOBE NEWSWIRE) -- Market Overview
5G mobile networking technology is one of the key innovations in telecommunications. With its faster data rates than 4G & LTE speeds and low latency & increased bandwidth, 5G technology has exponentially improved the connectivity and connected technology. However, alongside came the cybersecurity concerns and increased vulnerability to online crimes.
Besides, the proliferation of private 5G networks created significant market demand. Organizations are increasingly seeking to significantly improve operations through high capacity, low latency, and fast communications networks, thereby increasing the focus on the security of the data transmitted. Resultantly, Private 5G networks are expected to gain huge momentum in industrial uses.
5G security market worldwide are estimated to garner significant traction. In this regard, Market Research Future (MRFR), a leading research firm, states that the global 5G security market is poised to reach USD 5,201.4 billion by 2026, growing at a massive 44.25% CAGR during the review period (2020–2026). With 5G networking systems incorporated into every business system and growing digitization, the need for 5G security is growing too.
5G security industry is one of those many industries which remained unaffected by the COVID-19 complications. The onset of the pandemic positively impacted the already-competitive telecom markets and so 5G technology and security markets. Moreover, the massive leap people took to make a living online during the lockdown period increased the market demand for high-speed networks and 5G securities.
On the other hand, the economical setback that occurred due to the coronavirus outbreak worldwide contributed to the market upend, causing many lost jobs and downward discretionary income, thereby fueling cyber-crimes and data theft. With vast transformations in the IT & telecom industry and the digital transformation of the global economy itself, cybersecurity risks are rising across industry verticals.
The coronavirus pandemic has also fostered digitization and automation across the manufacturing sectors, which increased 5G deployments and the need for 5G security solutions. The automation has further increased the uptake of 5G networks and the need for cloud-based 5G-enabled security apps and services.
The 5G security market is witnessing a constant uptick over the past few months, and solution providers are seen increasing investments to foster R&D activities to develop 5Gsecurity solutions.
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The 5G security market is segmented into components, network component security, architecture, end-user, deployment type, vertical, and region. The component segment is sub-segmented into solutions and services.
The sub-segment solution is further bifurcated into data loss prevention, next-generation firewall, antivirus/antimalware, security gateway, DDoS protection, sandboxing, and others (network access control [NAC] and network vulnerability assessment and penetration testing [VAPT]). Similarly, the sub-segment services are divided into consulting, implementation, support & maintenance, and others.
The network component security segment is sub-segmented into RAN security and core security. The architecture segment is sub-segmented into 5G NR non-standalone and 5G NR standalone. The end-user segment is sub-segmented into telecom operators and enterprises. The deployment type segment is sub-segmented into cloud and on-premises.
The vertical segment is sub-segmented into manufacturing, healthcare, energy & utilities, retail, automotive & transportation, public safety, media & entertainment, and others (BFSI, agriculture, and education). The region segment is sub-segmented into the Americas, Europe, APAC, and the Rest-of-the-World.
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North America is projected to retain its dominance over the global 5G security market. The proliferation of 5G technology and consumer base is a major trend increasing the market demand. Besides, the presence of a large number of 5G security technology & service providers, alongside advances in 5G security sensors and 5G privacy technologies, drive the growth of the market in the region.
Moreover, the increased demand for 5G security services and Internet connectivity with high reliability across industry verticals boosts market growth in this region. The US accounts for the country-level leading market, while Canada is the fastest-growing market in the region.
Asia Pacific has emerged as a profitable market 5G security solutions globally. Increasing focus on improving internet connectivity and 5G privacy, alongside high R&D investments, act as a major influencer. China, Japan, and India account for leading country-level markets in the region, heading with growing investments in telecommunication infrastructure and digital transformation.
Furthermore, factors such as the strong presence of key players, technical expertise, and increased industrialization foster the growth of the market. The rising demand for 5G security services in some emerging countries such as South Korea is likely to boost the region's 5g security market share during the assessment period.
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The 5G security market is expected to witness significant product launches and several strategic deals, such as collaboration, expansion, and mergers & acquisitions. Leading industry players make significant investments in research and development activities and drive their expansion plans.
For instance, recently, on Apr 09, 2021, IT security leaders Fujitsu and Trend Micro announced their collaboration to secure private 5G. These companies have developed streamlined security products for IoT devices and networks to help accelerate manufacturing digital transformation. Fujitsu and Trend Micro would conduct a field trial until September 2021 at Fujitsu's Oyama Plant. These partners would consider commercializing a security system for private 5G, based on the results of this trial.
Notable Players Operating In The Global 5G Security Market Include:
A10 Networks (US)
Allot ( Israel )
Avast (Czech Republic)
Check Point (US)
Colt Technology (UK)
F5 Networks (US)
G+D Mobile Security (Germany)
Juniper Networks (US)
Positive Technologies (UK)
Palo Alto Networks (US)
Riscure (the Netherlands)
Trend Micro (Japan)
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The proliferation of digital transformation, industry 4.0, and IoT are megatrends impacting the market growth positively. Additionally, smart connected devices, which are anticipated to grow regardless of vertical, are another major trend offering further revenue opportunities to the market. With most manufacturing companies already embraced industry 4.0 regulations and the advent of industry 5.0, 5G security technology becomes crucial for manufacturing sectors worldwide.
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