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Global 5G Security Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report – Segmented By Component (Solutions and Services), Deployment (Cloud and On-premise), Architecture (5G NR Standalone and 5G NR Non-Standalone), Network Security (RAN Security and Core Security), End-user (Industries and Telecom Operators), Industry (Manufacturing, Healthcare, Retail, Automotive and Transportation, Public Safety and Others) and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Industry Analysis (2024 to 2029)

Published: February, 2024
ID: 14645
Pages: 150
Formats: report pdf report excel report power bi report ppt

Global 5G Security Market Size (2024 to 2029)

The size of the global 5G security market is estimated to be worth USD 13.72 billion by 2029 from USD 2.38 billion in 2024, growing at a CAGR of 41.9% during the forecast period.

5G security refers to the suite of measures and protocols implemented to safeguard 5G networks, infrastructure and devices from cyber threats and vulnerabilities. As 5G technology becomes increasingly pervasive across industries ensuring the security and integrity of these networks is crucial for protecting sensitive data and maintaining reliable communication systems. These security measures include encryption, authentication mechanisms, intrusion detection systems and network segmentation to mitigate risks like unauthorized access and data breaches.

The demand for 5G security solutions is growing at a significant pace. The growing adoption of 5G technology globally in sectors such as telecommunications, healthcare, finance and smart cities is fuelling the need for 5G security. Consequently, the market for 5G security solutions is witnessing substantial growth due to rising awareness of cybersecurity risks and regulatory requirements. Vendors are innovating to develop more advanced and scalable security solutions to meet the evolving needs of organizations deploying 5G networks.

Global 5G Security Market Drivers:

The growing adoption of 5G technology globally and the increasing volume of sensitive data transmitted over 5G networks are key factors propelling the global 5G security market growth. The widespread adoption of 5G technology across various industries and regions is fuelling the demand for robust security measures to protect these networks. For instance, there will be over 3.5 billion 5G subscriptions globally by 2026 and 5G networks covering 60% of the world's population, as per Ericsson Mobility Report. The rapid adoption of connected devices, IoT applications and digital services running on 5G networks is significantly increasing the volume of sensitive data being transmitted, which includes personal information, financial data, intellectual property and critical infrastructure data that require stringent security measures to prevent unauthorized access, data breaches, and cyber-attacks. For instance, as per the projections of Juniper Research, the average data usage per 5G connection will increase by 182% between 2021 and 2026.

An increase in cyber threats targeting 5G infrastructure and regulatory mandates for securing 5G networks are boosting the growth rate of the global 5G security market. The 5G networks have become lucrative targets for cybercriminals to exploit vulnerabilities and disrupt critical services. The attack surface for cyber threats is expanding due to the rising adoption of IoT devices and the increasing complexity of network architecture, which are further demanding robust security measures to safeguard against potential breaches and attacks. For instance, 70% of service providers consider security concerns as the most significant barrier to the adoption of 5G technology, as found in the research by Ericsson. Governments and regulatory bodies worldwide are imposing stringent regulations and standards to ensure the security and resilience of 5G networks. These mandates require network operators and service providers to implement comprehensive security measures, including encryption, authentication and intrusion detection to protect against cyber threats and safeguard sensitive data transmitted over 5G networks. For instance, cyber threats targeting 5G networks have been identified as a top security concern in a study by the European Union Agency for Cybersecurity (ENISA).

The rapid expansion of IoT devices connected to 5G networks, increasing demand for secure remote work and telecommunication, the emergence of edge computing in 5G networks, increasing concerns about data privacy and protection, the expansion of smart city initiatives reliant on 5G and rising need for secure communication in military and defense are contributing to the growth of the 5G security market. The integration of AI and machine learning in 5G security, growing awareness of supply chain vulnerabilities, the development of quantum-safe encryption for 5G and the expansion of 5G networks in emerging markets are further supporting the 5G security market growth.

Global 5G Security Market Restraints:

The absence of standardized security protocols across 5G networks is one of the significant restraints to the growth of the global market. Limited interoperability between security solutions and 5G infrastructure, the scarcity of cybersecurity professionals with specialized expertise in 5G and high implementation costs for comprehensive 5G security measures are impeding the growth of the global market. Concerns about potential performance impacts of security measures on 5G networks, resistance to adopting new security technologies and practices and the absence of comprehensive risk assessment frameworks tailored to 5G networks are further inhibiting the growth rate of the global 5G security market.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

CAGR

41.9%

Segments Covered

By Component, Deployment, Network Security, Industry and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Ericsson, Palo Alto Networks, A10 Networks, Allot, Huawei, Nokia, Juniper Networks, Fortinet, Mobileum, ZTE, Trend Micro Inc., Intel Corporation, Qualcomm Incorporated, IBM Corporation, AT&T Inc., and Huawei Technologies Co., Ltd.

 

This research report on the global 5G security market has been segmented and sub-segmented based on component, deployment, network security, industry and region.

Global 5G Security Market – By Component:

  • Solution
    • Next-Gen Firewall
    • Antivirus/Antimalware
    • Security Gateway
    • Distributed Denial of Service Protection (DDoS)
    • Sandboxing
    • Others
  • Services
    • Consulting
    • Implementation
    • Support & Maintenance

Based on components, the solution dominated the market, accounting for 68.8% of the global market share in 2023 and is anticipated to grow at a promising CAGR of 21.8% during the forecast period. The growing number of cyber-attacks has been prompting the adoption of comprehensive security solutions, which is one of the key factors propelling the growth of the solutions segment in the global market. For instance, an estimated 80% of cybersecurity professionals believe that 5G networks will increase security challenges. Factors such as regulatory compliance, increasing IoT deployments, advancements in network slicing and growing integration of edge computing in 5G networks are further fuelling the growth rate of the solutions segment in the global market.

On the other hand, the services segment is projected to account for a noteworthy share of the global market during the forecast period and witness a CAGR of 16.1%. Organizations have been increasingly seeking expert services to address cybersecurity skill shortages, which is one of the significant factors propelling the growth of the services segment. For instance, more than 70% of organizations believe that they lack adequate cybersecurity expertise. Ongoing monitoring and response services are essential for threat detection are also boosting the expansion of the services segment.

Global 5G Security Market – By Deployment:

  • Cloud
  • On-premises

Based on deployment, the cloud segment registered domination in the global market in 2023, holding 66.7% of the global market share and the domination of the cloud segment is estimated to continue throughout the forecast period. The scalability and flexibility that cloud-based solutions offer is one of the major factors driving the growth of the cloud segment. For instance, Gartner, which is a management consulting company projects an estimated 80% of enterprises will shut down their traditional data centers and move to cloud-based solutions for better scalability and agility by 2025. The cost-effectiveness, ease of management and enhanced security features of cloud-based solutions are further promoting the expansion of the cloud segment.

The on-premises segment is expected to grow at a steady CAGR during the forecast period. The benefits associated with on-premises deployment such as greater control over their data, compliance with industry-specific regulations and data sovereignty requirements, greater customization and configuration options, low latency and high performance for sensitive applications and workloads are supporting the growth of the on-premises segment in the global market.

Global 5G Security Market – By Architecture:

  • 5G NR Standalone
  • 5G NR Non-Standalone

Based on architecture, the 5G NR standalone segment held 64.3% of the global market share in 2023 and is expected to register a CAGR of 36.9% during the forecast period. The domination of the 5G NR standalone segment is majorly attributed to the enhanced network performance and security protocols in standalone architecture and rapid adoption by major telecom operators. For instance, the adoption of 5G standalone networks is expected to grow by 68% annually over the next five years. Factors such as increasing demand for high-speed and low-latency connectivity, rising concerns over cybersecurity threats in critical sectors and regulatory mandates for secure communication networks are further boosting the growth rate of the 5G NR standalone segment in the global market.

Global 5G Security Market – By Network Security:

  • RAN Security
  • Core Security

Based on network security, the core security segment captured a global market share of 61.2% in 2023 and is estimated to showcase the fastest CAGR of 26.5% during the forecast period. Regulatory compliance requirements, such as GDPR and CCPA are propelling investments in core security solutions, which is one of the major factors driving the expansion of the core security segment in the global market. For instance, the global spending on core security solutions in the 5G domain is expected to reach USD 6.5 billion by 2025. An increase in the incidences of cyber threats targeting core network infrastructure and the expansion of 5G networks and the proliferation of IoT devices are boosting the growth rate of the core security segment.

Global 5G Security Market – By End-user:

  • Industries
  • Telecom Operators
  • Industry
  • Manufacturing
  • Healthcare
  • Retail
  • Automotive And Transportation
  • Public Safety
  • Others

Based on end-users, the telecom operators segment held the largest share of 41.8% of the worldwide market in 2023 and is expected to grow at a healthy CAGR during the forecast period. Factors such as a growing number of network security concerns, regulatory compliance requirements to safeguard, increasing number of cyber threats targeting telecommunications infrastructure, growing demand for secure and reliable communication services to support 5G deployments and rising adoption of network slicing technology to enable customized security solutions are majorly driving the growth of the telecom operators segment in the global market.

Global 5G Security Market – By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Geographically, North America stood as the largest regional segment in the global market, capturing 29.1% of the global market share in 2023. The domination of North America is predicted to continue in the global market throughout the forecast period. North America witnessed a surge in cybersecurity investments following high-profile breaches in the recent past and the trend is likely to accelerate during the forecast period, which is one of the major factors driving the growth of the North American market. The presence of major 5G infrastructure vendors and cybersecurity firms and a strong focus on cybersecurity regulations and compliance standards are further boosting the growth rate of the North American market. The U.S. is anticipated to account for the leading share of the North American market during the forecast period. The U.S. government has been taking numerous initiatives to enhance 5G security, such as the Secure 5G and Beyond Act, which are fuelling the adoption of 5G security measures in the U.S. and driving the U.S. market growth.

Europe closely followed North America and emerged as the second biggest regional segment for 5G security worldwide in 2023 and is predicted to showcase a prominent CAGR during the forecast period. The growth of the European market is majorly driven by the increase in cyberattacks on 5G networks and growing investments in security solutions. For instance, the European Commission allocated €300 million to bolster 5G cybersecurity measures across member states. An increase in partnerships with cybersecurity firms to fortify network defenses and growing investments in research and development of indigenous 5G security technologies in European countries are further supporting the European market growth.

The Asia-Pacific is predicted to be the most creative regional segment in the global market during the forecast period, growing at the fastest CAGR. Rapid deployment of 5G networks across major economies like China, South Korea, and Japan and increasing investments for security measures across the APAC region are propelling the APAC market growth. For instance, Japan announced investments worth $2 billion to enhance cybersecurity capabilities for 5G networks ahead of the Tokyo Olympics. The rapid adoption of IoT devices and smart technologies, favorable initiatives from the governments of the Asia-Pacific region and the rapid expansion of digital infrastructure in emerging markets like India and Southeast Asia are boosting the growth of the Asia-Pacific market.

KEY MARKET PLAYERS:

Ericsson, Palo Alto Networks, A10 Networks, Allot, Huawei, Nokia, Juniper Networks, Fortinet, Mobileum, ZTE, Trend Micro Inc., Intel Corporation, Qualcomm Incorporated, IBM Corporation, AT&T Inc., and Huawei Technologies Co., Ltd are some of the key players in the global 5G security market.

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FAQ's

What is the current size of the global 5G security market?

The global 5G security market is projected to reach USD 2.38 bn in 2024.

What factors are driving the growth of the global 5G security market?

The rapid deployment of 5G networks, increasing cyber threats, regulatory requirements, and the need to protect critical infrastructure are propelling the growth of the global 5G security market.

Which regions are expected to dominate the global 5G security market share?

Regions such as North America, Europe, and Asia-Pacific are anticipated to dominate the global 5G security market share due to significant investments in 5G infrastructure and cybersecurity measures.

Who are the major players in the global 5G security market?

Ericsson, Palo Alto Networks, A10 Networks, Allot, Huawei, Nokia, Juniper Networks, Fortinet, Mobileum, ZTE, Trend Micro Inc., Intel Corporation, Qualcomm Incorporated, IBM Corporation, AT&T Inc., and Huawei Technologies Co., Ltd. are some of the major companies in the global 5G security market. 

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