5G Security Market 2024 – Increasing Demand From Organizations to drive the demand

June 7, 2021

Rapid rise of new architecture, new business, and new technologies in 5G will present new challenges to security and privacy protection. 5G has designed in security controls to address many of the threats. Some of these controls include enhanced subscriber identity protection, new mutual authentication capabilities, and additional security mechanisms.
The main aim of 5G security is to enhance mobile broadband and improve machine-type communications. Some of the 5G providers are focused on launching 5G security solutions. For instance, Palo Alto Networks, a cybersecurity solutions provider company introduced the first 5G-native security solution that offers security for highly distributed, cloud native 5G networks. This includes real-time correlation of threats to 5G identifiers, 5G network slice security, and containerized 5G security.
The global 5G security market is projected to expand at a rapid pace during the forecast period, due to increasing demand for 5G security from organizations.

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Increasing adoption of fifth-generation (5G) cellular is expected to drive the demand for 5G security.
Increasing need to deploy security solutions at multiple levels such as in devices, cloud RAN infrastructure, and air interface equipment, is anticipated to propel the market growth during the forecast period.
5G supports numerous improved and new applications and services which need high security. This in turn is expected to boost the growth of the 5G security market across the globe.
Increasing requirement of adhering to stringent regulatory compliances effectively is a major factor projected to boost the global 5G security market in the next few years.
Rising government initiatives in digitization has propelled the demand for 5G deployment, which indirectly propels the global 5G security market during the forecast period.
Increasing adoption of cloud-based solutions among organizations, which generates demand for security solutions and services across the globe is also anticipated to boost the demand for 5G security.
However, lack of awareness about benefits of 5G security is expected to hamper the 5G security market during the forecast period.

Increasing cases of COVID-19 across the globe is resulting in economic slowdown. The impact of COVID-19 is being absorbed in each sector of the economy, including the global software industry. This in turn is projected to indirectly hinder the global 5G security market in the next one year.
Lack of industrial activity is expected to result in low cash flows, further impacting the funding of projects. However, COVID-19 has a slightly negative impact on the market owing to the delay in deployment of 5G networks by vendors during the pandemic.

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In terms of region, the global 5G security market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
North America dominated the global 5G security market in 2019, due to presence of well-established and technologically advanced players in the region. The U.S. is a key market in North America, due to increasing instances of cyber-attacks, which is anticipated to boost the 5G security market in the country.
The 5G security market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be attributed to growing need to protect websites, applications, and endpoints from unauthorized access in the region. China and India are key market in Asia Pacific.

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