The global 5G security market size is expected to reach USD 21.11 billion by 2030, according to a new study by Polaris Market Research. The report gives a detailed insight into current market dynamics and provides an analysis of future market growth.
The 5G security is the advanced version of mobile networking that features similar to other generation technologies such as radio waves, towers, and so on. However, fifth-generation technology incurs an exclusive encoding scheme that provides various other advantages, such as it offers 100 times higher speed than 4G, and it enables more devices to connect to mobile networks. Further, the fifth-generation technology also provides much lower network latencies and requires less energy than 4G, which is useful for resource-constrained devices.
The rapid growth of the new business, architecture, and technologies in fifth-generation technology will present new challenges to privacy and security protection. The fifth-generation technology has designed safety controls to address many of the threats. Some of these controls include new mutual authentication capabilities, enhanced subscriber identity protection, and additional safety mechanisms.
The main aim of the market is to improve mobile broadband and enhance machine-type communications. The global industry is projected to develop at a rapid pace during the forecast period, which will grow the overall demand for growth over the forecast period.
On account of the outbreak of COVID-19, there has been a massive impact on the industry. Due to the introduction of lockdown across the globe, people are working from home, and therefore, there is a high risk of cyber-attack. With the adoption of fifth-generation technology worldwide, fifth-generation connected devices are more prone to dangerous cyber-attacks. Moreover, the issue of botnets, faster data extraction, and breach of individual privacy have also been impacted due to the introduction of fifth-generation technology.
5G is altering and improving mobile connectivity. This is attributed to its high speeds and low latency, in which all the companies and industries are focusing on digitalization. Therefore, with the adoption of fifth-generation networks, devices across the globe are equipped with IoT (the internet of things) solutions. This is further leading to the introduction of AR/VR on mobile networks, remote medicine, and much more. Therefore, in current scenarios, the technology of fifth-generation is practically unlimited.
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5G Security Market Report Highlights
- The services segment is expected to witness lucrative growth during the forecast period. Growing demand has pushed companies to keep changing the trends in technologies which have surged the need for services across the industry.
- Cloud accounted for the global revenue share, which is accelerated by the growing adoption of cloud services to concentrate on their core skills rather than investing in safety infrastructure
- The Asia Pacific is expected to grow exponentially over the forecasted period on account of the growing adoption of emerging technologies such as cloud, big data, IoT, and digital transformation across the region
- The market is highly competitive owing to the existence of prominent industry players with a global presence, including Intel Corporation, IBM Corporation, Juniper Networks Inc., Qualcomm Incorporated, Symantec Corporation, and NEC Corporation
Polaris Market Research has segmented the 5G security market report based on form, product, application, and region:
5G Security, Component Outlook (Revenue – USD Billion, 2018 – 2030)
- Solution
- Services
5G Security, Deployment Outlook (Revenue – USD Billion, 2018 – 2030)
- On-Premises
- Cloud
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