The 5g security global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
5G Security Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The 5g security market size has grown rapidly in recent years. It will grow from <b>$8.34 billion in 2023 to $9.86 billion in 2024 at a compound annual growth rate (CAGR) of 18.2%. </b> The growth in the historic period can be attributed to identity and access management emphasis, virtualization and cloud-native infrastructure, zero trust security models, shift to edge computing.
The 5g security market size is expected to see rapid growth in the next few years. It will grow to <b>$19.05 billion in 2028 at a compound annual growth rate (CAGR) of 17.9%. </b> The growth in the forecast period can be attributed to rapid 5g network expansion, growing iot integration, escalating cyber threats, regulatory emphasis on security, edge computing security demands. Major trends in the forecast period include development of identity and access management solutions, virtualization and cloud security, ai and ml-powered threat detection, zero trust security models, edge computing security.
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Scope Of 5G Security Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
5G Security Market Overview
Market Drivers –
The increasing cyber-attacks are expected to propel the growth of the 5G security market going forward. A cyber-attack refers to an attack made against a single computer, a network, or many systems by hackers using one or more computers. 5G security provides security and privacy benefits, such as spoofing and anti-tracking measures, as a result, increasing cyber-attacks increase the demand for the 5G security market. For instance, in 2021, according to the Federal Bureau of Investigation’s Internet Crime Report, a US-based federal agency for investigating cyber-attacks and intrusions, in the USA, complaints registered under cybercrimes reached a total of 84.73k cases, showing an increase of 7% from 2020. Therefore, the increasing cyber-attacks are driving the growth of the 5G security market.
Market Trends –
Technological advancements are a key trend gaining popularity in the 5G security Major companies operating in the 5G security market are focused on developing new technological solutions to strengthen their position. For instance, in February 2022, Palo Alto Networks, a US-based company operating in 5G security launched Cortex® XSIAM, the first AI-powered SOC platform deployed by security organizations. This will transform security operations by enabling organizations to build an intelligent data foundation and detect emerging threats across the entire security infrastructure. This collects granular data and alerts to drive machine learning for natively autonomous response actions for the detection of highly sophisticated, emerging threats.
The 5g security market covered in this report is segmented –
1) By Components: Solutions, Services
2) By Deployment Type: On-Premises, Cloud
3) By Organization Size: Large Enterprises, SMEs
4) By Application: Virtual and Augmented Reality, Connected Automotive, Smart Manufacturing, Smart Cities, Other Applications
5) By Industry Vertical: Manufacturing, Healthcare, Reatil, Automotive and Transportation, BFSI, Other Industry Verticals
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Regional Insights –
North America was the largest region in the 5G security market in 2023. The regions covered in the 5g security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the 5g security market report are Telefonaktiebolaget LM Ericsson, Palo Alto Networks Inc., Cisco Systems Inc., Allot Ltd., Huawei Technologies Co. Ltd., A10 Networks, Nokia Networks, F5 Networks Inc., Juniper Networks Inc., Spirent Communications plc, Fortinet Inc., Mobileum Inc., Trend Micro Inc., Radware Inc., Riscure B.V., G+D Mobile Security, China Mobile Ltd., Cloudflare Inc., DigitCert Inc., Infineon Technologies AG, ZTE Corporation, Akamai Technologies Inc., Colt Technology Services Group Limited, CLAVISTER, AT&T Inc., Avast Software s.r.o., Check Point Software Technologies Ltd., ForgeRock Inc., Positive Technologies, Thales Group, Symantec Enterprise, McAfee Corp.
Table of Contents
1. Executive Summary
2. 5G Security Market Report Structure
3. 5G Security Market Trends And Strategies
4. 5G Security Market – Macro Economic Scenario
5. Global 5G Security Market Size and Growth
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31. Global 5G Security Market Competitive Benchmarking
32. Global 5G Security Market Competitive Dashboard
33. Key Mergers And Acquisitions In The 5G Security Market
34. 5G Security Market Future Outlook and Potential Analysis
35. Appendix
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