5G Security Market size worth $ 16.4 Billion, Globally, by 2030 at 33% CAGR: Verified Market Research®

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Jul 18, 2022, 09:15 ET

Hackers are targeting IoT devices and exploiting known flaws, according to the report. The increased vulnerability of critical systems, high investments from key players to develop secure and efficient systems are the factors driving the market growth.

JERSEY CITY, N.J., July 18, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "5G Security Market" By Component (Solutions, Services), By Deployment Mode (On-Premises, Cloud), and By Geography. According to Verified Market Research, the 5G Security Market size was valued at USD 1.2 Billion in 2021 and is projected to reach USD 16.4 Billion by 2030, growing at a CAGR of 33% from 2022 to 2030.

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Browse in-depth TOC on "5G Security Market"

202 - Pages

126 – Tables

37 – Figures

Global 5G Security Market Overview

Hackers are increasingly targeting IoT devices and exploiting known vulnerabilities, such as those involving default usernames, passwords, and static code backdoors. With the integration of IoT and high-speed networks, all verticals are now adopting automation. Critical infrastructures, such as power, water, and other vital resources, were among the first to adopt technology and are now in the automation phase. While automation has made operations far more efficient, it has also made systems more vulnerable to intrusions. All governments are now concerned about the growing vulnerability of crucial systems. Interfering with a nuclear reactor's controls, whether accidentally or maliciously, poses a serious hazard to human life and property.

Higher frequencies are a significant benefit in the development of the 5G network. However, all high frequencies (radio spectrum) are currently in use for a variety of purposes, including telecommunications and government agencies. Access to these high-frequency spectrums is critical for the development of 5G infrastructure. There is a conflict in accessing certain frequency bands because they are already allocated for various applications. However, there is no clear timeline for when wireless operators will be granted access to these spectrums to build 5G infrastructure. For the development of 5G infrastructure, consistency of spectrum distribution across regions and countries is critical. It has an impact on economies of scale and defines the role of equipment providers in developing appropriate goods.

Key Developments

In October 2021, Singtel, a renowned communications technology company in Singapore, collaborated with Ericcson. This collaboration will help to speed 5G adoption across a variety of industries while also fostering industry collaboration to develop and deploy sophisticated 5G technologies in Singapore.

Key Players

The major players in the market are Ericsson (Sweden), Palo Alto Networks (US), Cisco (US), Allot (Israel), Huawei (China), A10 Networks (US), Nokia (Finland), F5 Networks (US), Juniper Networks (US), and Spirent (US).

Verified Market Research has segmented the Global 5G Security Market On the basis of Component, Deployment Mode, and Geography.

5G Security Market, By Component

Solutions
Services

5G Security Market, By Deployment Mode

On-Premises
Cloud

5G Security Market, by Geography

North America

U.S
Canada
Mexico

Europe

Germany
France
U.K
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

ROW

Middle East & Africa
Latin America

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