5G Solutions Expected to Play Vital role in the Growth of 5G Security Market
According to a recent report by Future Market Insights (FMI), the 5G Security Market is expected to surpass a valuation of US$ 12 Bn by 2032 at a CAGR of over 26.4% during 2022 – 2032. Solutions segment is expected to account for largest market share throughout the forecast period. It is expected to grow at a CAGR of 25.8% in the next ten years. Solutions comprises of the necessary tools responsible to ensure safety. Some tools are next-generation firewalls, data loss prevention, antivirus/antimalware, DDoS protection, security gateway, and sandboxing which are used to ensure 5G security.
DLP instruments help to design data loss prevention methodologies by giving pre-portrayed approach controls to follow the advancement of data. It also hinders unapproved sharing, corrupting, as well as pull of data. The data loss is mainly done via malware attack and taking control of the system. According to Verizon’s 2021 Data Breach Investigations Report, malware was involved in nearly 15% of data breach. To reduce the malware attacks and security breaches companies are focused in 5G technology.
With the growing concern of consumers worldwide regarding their health and their growing annual healthcare budget, healthcare stakeholders are becoming richer every day. But, at the same time with the evolution of new technologies and their need for speed and automation have made them vulnerable to cyber threats. 5G capabilities have added numerous advantages to healthcare sector including speed, capacity, hyper-connectivity, low latency, and data-driven insights. The higher speed and lower latency offered by 5G can be a boon to the cyber attackers as it offers them opportunity to access more data due to hyper-connectivity.
Key Takeaways from the 5G Security Market Study
- 5G Non-standalone is expected to hold the largest share in the architecture segment and is expected to grow at a CAGR of 24.9% in forecast period.
- The U.S. holds a growth of CAGR 25.9% from 2022 to 2032.
- The solutions segment is expected to emerge as the fastest-growing segment, registering a CAGR of 25.8% from 2022 to 2032.
“Companies implementing 5G technology need to focus on the security threats, 5G cloud infrastructure could make the ground breaking difference” says an FMI analyst.
Who is winning?
Leading players of 5G Security Market are focused in developing cloud infrastructure, because with the help of artificial intelligence and machine learning companies are automating the process and the data or formula details are stored in the cloud platform which can be accessed remotely. Key players present in the 5G Security Market industry are Ericsson, Palo Alto Networks, A10 Networks, Allot, Huawei, Nokia, Juniper Networks, Fortinet, Mobileum, ZTE among others.
Below enlisted are few of the recent developments in 5G Security Market:
- In Mar 2022, Huawei, China Unicom, Partners Announced 5G Private Network PLUS Achievements. They are focused to provide high reliable campus networks, slice-based private network. China Unicom’s 5G Private Network PLUS Achievements were announced during MWC Barcelona 2022.
- In Feb 2022, Ericsson announced that its 5G portfolio update has enabled energy efficiency. Seven new RAN products and solutions led by the flagship dual-band Radio 4490 which consumes 25% less power compared to current product.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the global 5G Security Market, presenting historical demand data (2019-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the 5G Security Market based on Component (Solutions, Services) Network Component Security (RAN Security, Core Security) Architecture (5G NR Non-standalone, 5G NR Standalone) End User (Telecom Operators, Enterprises) Deployment Type (Cloud, On-Premises) Vertical (Manufacturing, Healthcare, Energy and Utilities, Retail, Automotive and Transportation, Public Safety, Media and Entertainment, Others) across five major regions.
These insights are based on a report on 5G Security Market by Future Market Insights