5G Security Market Share Worth $37.8 Billion by 2031 With CAGR of 40.5% | Revenue, Growth, Trends, Key Companies

WILMINGTON, DE, UNITED STATES, December 4, 2023 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “5G Security Market, By Component (Solution, Services), By Deployment Mode (On-Premises, Cloud), By Organization Size (Large Enterprises, Small and Medium-sized Enterprises), By Network Component Security (Radio Access Network Security, Core Security), By Architecture (5G NR Standalone, 5G NR Non-Standalone), By Industry Vertical (Manufacturing, IT and Telecom, Healthcare, Retail, Energy and Utilities, Automotive, Media and Entertainment, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031"

The 5G security market was valued at $1.3 billion in 2021, and is estimated to reach $37.8 billion by 2031, growing at a CAGR of 40.5% from 2022 to 2031.

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The world is moving toward 5G technology. As 5G becomes more prevalent and usable, its adoption in businesses is anticipated to grow rapidly. The promise of 5G technology makes it an ideal choice for organizations that need to monitor and control solutions at remote locations. However, many of these organizations such as critical infrastructure, healthcare, and similar industries are the ones that are most targeted and vulnerable to cyber threats. Furthermore, 5G security provides solutions that can aid these organizations to securely deploy IoT and other devices on 5G networks. This includes IoT security solutions tailored to industry-specific needs and capable of protecting IoT devices from their initial connection to the network to blocking both known and zero-day attacks. Such factors provide lucrative opportunities for the market growth during the forecast period.

Moreover, 5G’s ability to support a much higher density of devices means that many IoT devices can be effectively deployed in a location without negatively impacting each other’s network connectivity. As a result, 5G makes the widespread deployment of IoT devices possible, especially in remote locations where traditional network connectivity is unavailable or expensive. Such trends are projected to positively impact the 5G security market forecast.

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Competitive Analysis:
The competitive environment of 5G Security Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, 5G Security Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key Players:
AT&T Inc.
Huawei Technologies Co. Ltd.
IBM Corporation
Intel Corporation
Juniper Networks Inc.
Nokia Corporation
Palo Alto Networks
Qualcomm Incorporated
Telefonaktiebolaget LM Ericsson
Trend Micro, Inc and Many More

Region wise, North America dominated the market share in 2021 for the 5G security market. Adoption of 5G security solution growing steadily to meet increasing demands from today’s businesses to enhance their business process and improve the customer experience is expected to fuel the market growth in this region. However, Asia-Pacific is expected to exhibit the highest growth during the forecast period. Surge in digitalization toward business operation, is projected to provide lucrative growth opportunities for the 5G security market in Asia-Pacific region.

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The COVID-19 outbreak positively impacted the growth of the 5G security market. This is attributed to investment in advanced technologies such as AI, big data, cloud platforms, 5G, machine learning and other technology by various organizations across the globe. In addition, increasing digital transformation initiatives in various sectors to enhance their operation are expected to provide lucrative opportunities for 5G security industry growth. Furthermore, the ever-evolving threat landscape facing 5G and beyond networks and the anticipated increasing complexity in operating and managing those networks demand for advancements in the current security management achievements to cope with the new cybersecurity requirements while taking advantage of the promising concepts/technologies, such as ZSM, AI/ML, Blockchain, TEE, that are gaining momentum due to their ability to deliver actionable results for a better, safer and smarter security for 5G.

This section is expected to explore the potential of those concepts/technologies to come up with fully new breed of security solutions in support of 5G security. For instance, in April 2021. Fujitsu Limited and Trend Micro Incorporated collaborated to focus on the security of private 5G networks. The companies demonstrate the effectiveness of Trend Micro's security for private 5G using a simulated smart factory environment and an operational Fujitsu environment prior to the product's public availability. Fujitsu and Trend Micro have incorporated Trend Micro's 5G security solution into a private 5G system that simulates an actual smart factory environment equipped with high-definition monitoring cameras and automatic guided vehicles (AGV) at the Fujitsu collaboration lab in Kawasaki, Japan.

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