5G Security Market Size is Projected to Reach $37.8 Billion by 2031 | IBM, Intel Corporation, Nokia

Growing digitalization and internet penetration around the world are positively impacting the growth of the 5G security market.

PORTLAND, PORTLAND, OR, UNITED STATE, August 29, 2024 /EINPresswire.com/ -- A recent report by Allied Market Research titled "5G Security Market" revealed that the global 5G security market was valued at $1.3 billion in 2021 and is projected to grow significantly, reaching $37.8 billion by 2031. The market is expected to expand at a compound annual growth rate (CAGR) of 40.5% from 2022 to 2031.

As 5G technology becomes more widespread, its adoption by businesses is set to accelerate rapidly. The potential of 5G makes it an appealing option for organizations needing to monitor and manage solutions in remote locations. Industries such as critical infrastructure and healthcare, which are often prime targets for cyber threats, are expected to benefit from 5G security solutions. These solutions are designed to help organizations deploy IoT and other devices securely over 5G networks, protecting initial network connection to shielding against both known and zero-day attacks. These factors are poised to create strong growth opportunities for the 5G security market during the forecast period.

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Moreover, 5G’s capacity to handle a higher density of devices allows for the large-scale deployment of IoT devices without compromising network connectivity. This is particularly advantageous in remote areas where traditional network options are either unavailable or too costly. Such trends are expected to positively influence the growth of the 5G security market in the coming years.

When examining the market by industry vertical, the IT and telecommunications sector held the largest share in 2021, driven by the need for infrastructure optimization among telecom providers and ongoing innovation in the sector. The energy and utilities industry is also projected to experience strong market growth, as the adoption of 5G security solutions improves digital transformation efforts. These solutions enhance reliability, scalability, security, and performance, leading to better customer experiences and overall operational efficiency.

Geographically, North America led the market in 2021, with growing demand for 5G security solutions from businesses aiming to improve their operations and customer service. However, the Asia-Pacific region is expected to witness the highest growth during the forecast period, fueled by increasing digitalization in business operations across the region.

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The COVID-19 pandemic had a positive impact on the 5G security market, as companies worldwide invested in advanced technologies such as AI, big data, cloud platforms, 5G, and machine learning. Additionally, digital transformation initiatives across various sectors to improve operational efficiency are expected to create further growth opportunities for the 5G security industry. The evolving cybersecurity challenges faced by 5G and future networks, along with the increasing complexity of network management, are driving the demand for enhanced security management solutions. Technologies like Zero-touch Service Management (ZSM), AI/ML, blockchain, and Trusted Execution Environments (TEEs) are gaining traction for their potential to deliver smarter, more effective security solutions for 5G networks. For example, in April 2021, Fujitsu Limited and Trend Micro Incorporated partnered to focus on private 5G network security. They demonstrated the effectiveness of Trend Micro's 5G security solutions using a simulated smart factory environment in Fujitsu’s lab in Kawasaki, Japan, incorporating high-definition monitoring cameras and automated guided vehicles.

Key findings of the study include:

1. The solutions segment dominated the 5G security market by component in 2021.

2.The on-premises deployment mode held the largest market share in 2021.

3. Large enterprises accounted for the largest share by organization size.

4. The radio access network (RAN) security segment led the market by network component security.

5. The 5G NR non-standalone architecture held the largest share by architecture in 2021.

6. The IT and telecom sector dominated the market by industry vertical in 2021.

7. North America generated the highest revenue in 2021.

Key players in the 5G security market include AT&T Inc., Huawei Technologies Co. Ltd., IBM Corporation, Intel Corporation, Juniper Networks Inc., Nokia Corporation, Palo Alto Networks, Qualcomm Incorporated, Telefonaktiebolaget LM Ericsson, and Trend Micro, Inc. These companies have adopted various strategies to expand their market presence and strengthen their positions in the 5G security industry.

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