5G Security Market to be Worth $27.59 Billion by 2030 at CAGR of 39.6%: Grand View Research, Inc.

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Jan 17, 2023, 06:30 ET

SAN FRANCISCO, Jan. 17, 2023 /PRNewswire/ -- The global 5G security market size is expected to reach USD 27.59 billion by 2030, registering CAGR of 39.6% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The increasing attacks on key infrastructure, rising ransomware attacks on IoT devices, and growing security concerns in the 5G network are the factors driving growth of the 5G security industry. Network slicing and considerable security improvements over 4G and LTE are also likely to drive increased demand for the 5G security solutions.

Key Industry Insights & Findings from the report:

The solution segment dominated the market in 2021. The rapid adoption of 5G security solutions by the end-user organizations to safeguard their own personal networks is one of the primary drivers pushing the segment's growth.
The cloud segment dominated the market in 2021. Rising investments in cloud-based 5G security technologies to let companies remotely detect the potential threats on 5G networks are supporting the segment growth
The RAN security segment dominated the market in 2021. A significant factor driving the segment growth is the ability of the RAN (Radio Access Network) component to link devices to auxiliary network components through radio connection
The telecom operators segment dominated the market in 2021. The growing number of mobile users, rising demand for the high-speed data connectivity, and more demand for the value-added managed services are the factors driving the segment growth
The healthcare segment is expected to witness the fastest growth during the forecast period. Through 5G security solutions, healthcare organizations are harnessing the internet of medical things to improve remote patient care and automate clinical workflow management
North America dominated the regional market in 2021. The rising number of 5G mobile connections across the region is expected to play a decisive role in driving growth of the regional market

Read 140-page full market research report, "5G Security Market Size, Share & Trends Analysis Report By Component, By Deployment, By Architecture, By Network Security, By End-user, By Industry, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

5G Security Market Growth & Trends

The technological advancements made in the 5G security market, including cloud-based security solutions, are expected to surge the market growth during the forecast period. 5G security is a technique developed to handle many dangers that arise when utilizing today's 4G/3G/2G networks. 5G improves mobile connection and offers companies and industries a more sophisticated mobile broadband experience. The two most important benefits of 5G security are high throughput and low latency. Other advantages include increasing IoT usage, less traffic visibility, and supply chain plus software vulnerabilities.

One of the major elements driving rise of the 5G security market size is improved network slicing and significant security expansion over 4G and LTE. Fifth-generation technology provides high-security capabilities that prioritize organizational and individual data privacy. Because of these advancements, the attacker is unable to decipher the information or pose any harm. Furthermore, the data is routed through virtual hubs and switches, making it easily accessible. As a result, the increasing usage of 5G security is likely to drive market development.

During the forecast period, the COVID-19 had a negative impact on the growth of the 5G security industry. The ongoing outbreak has also forced telecom regulatory officials to delay their plans for the 5G spectrum auction, which has hampered industry growth. However, significant gains in performance across applications such as cloud-based resources, network slicing, virtualization, and other future technologies are just a few of the benefits that 5G security provides. Such benefits are expected to create growth opportunities for the market during the coming years.

5G Security Market Segmentation

Grand View Research has segmented the global 5G security market based on the component, deployment, architecture, network security, end-user, industries and region.

5G Security Market - Component Outlook (Revenue, USD Million; 2020 - 2030)

Solution

Next Gen Firewall
Antivirus/Antimalware
Security Gateway
Distributed Denial of Service Protection (DDoS)
Sandboxing
Others

Services

Consulting
Implementation
Support & Maintenance

5G Security Market - Deployment Outlook (Revenue, USD Million, 2020 - 2030)

Cloud
On-premise

5G Security Market - Architecture Outlook (Revenue, USD Million, 2020 - 2030)

5G NR Standalone
5G NR Non-Standalone

5G Security Market - Network Security Outlook (Revenue, USD Million, 2020 - 2030)

RAN Security
Core Security

5G Security Market - End-user Outlook (Revenue, USD Million, 2020 - 2030)

Industries
Telecom Operators

5G Security Market - Industries Outlook (Revenue, USD Million, 2020 - 2030)

Manufacturing
Healthcare
Retail
Automotive and Transportation
Public Safety
Others

5G Security Market - Regional Outlook (Revenue, USD Million, 2020 - 2030)

North America

U.S.
Canada

Europe

U.K.
Germany
France

Asia Pacific

China
India
Japan
South Korea

Latin America

Brazil

Middle East & Africa

List of key companies in 5G Security Market

ERICSSON
Palo Alto Networks
Thales
A10 Networks, Inc.
Allot
AT&T
F5, Inc.
Check Point Software Technologies Ltd.
Fortinet, Inc.
Spirent Communications.

Check out more related studies published by Grand View Research:

5G Services Market - The global 5G services market size is estimated to reach USD 2,208.2 billion by 2030, registering a CAGR of 56.7% from 2022 to 2030, according to a new study by Grand View Research, Inc. The rapidly rising demand for ultra-reliable and low-latency data networks capable of providing enhanced mobile connectivity is estimated to boost the market growth over the forecast period.
Super High Frequency Communication Market - The global super high frequency communication market size is estimated to reach USD 7.13 billion by 2030, registering a CAGR of 16.0% from 2022 to 2030, according to a new study by Grand View Research, Inc. The rising conflicts among key countries such as the U.S. and China have forced them to invest heavily in their military spending on technological advancements and security enhancements.
IoT Cloud Platform Market - The global IoT cloud platform market size is anticipated to reach USD 51.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 14.6% from 2023 to 2030. The rapid adoption of internet of things (IoT) cloud platforms to connect hardware, such as sensors and smart devices to the cloud, to handle different communication protocols, and provide reliability, security, and authentication for users and devices is driving the IoT cloud platform market growth.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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