5G Security Market Outlook and Forecasts 2022 – 2030

5G Security Market Outlook and Forecasts 2022 – 2030

This 5G security market report evaluates the 5G threat landscape as well as technologies and solutions to secure networks, platforms, devices, data, and applications. The report also assesses the 5G security market outlook and potential for many 5G security solutions, services, and support.

It also evaluates the impact of security functions across various technologies including mobile edge computing, IoT networks, and mobility infrastructure. The report includes detailed 5G security market forecasts for all major technologies, industry verticals, solutions and service types from 2022 to 2030.

Select Report Findings:

5G security market will grow at a 36.8 % CAGR globally reaching $25.9 billion in 2030

Within the infrastructure security market, endpoint security will lead the market with 48% of the market within infrastructure security market

Within the network security market, mobile cloud security will lead the market with 56% of the market within network security market

Among the different type of security software, user identity and access management will lead the market with 18% of the total 5G security market

China and UK will lead the APAC and Europe market with 34% and 25% of the regional market respectively

Fifth-generation (5G) cellular is poised to transform the ICT industry through substantially enhanced mobility services, massively scalable Internet of Things (IoT) networks, and support for critical apps and services by way of ultra-low latency communications.

With improved network capacity, 5G is expected to impose new security challenges across infrastructure, IoT devices, communication networks, user identity, and data privacy. Security will be the key enabler for continuity of the 5G business environment and users will be expected to perceive some level of security and protection as they experienced in earlier generations.

Therefore, it is important that provided security and privacy service should match with the expected security level for users. To achieve the perceived level of security, it is important to carry forward existing security and privacy features to 5G networks that match.

With these anticipated improvements come great responsibilities for privacy and security. The 5G Security Market must be robust as solutions need to be deployed on multiple levels including devices, air interface equipment, cloud RAN infrastructure, mobile backhaul facilities, and more.

Mind Commerce sees one of the biggest 5G security issues at the application layer, which is where many apps and services are supported. With substantially greater bandwidth and ultra-low latency, 5G supports many new and improved Metaverse related apps and services such as untethered virtual reality and anytime, anywhere telepresence.

It is important to note that substantial 5G security spending will occur coincident with mobile network operator plans to build-out 5G core infrastructure. Whereas network security appliances continue to be viewed as less expensive and path of least resistance with hybrid LTE/5G networks, carriers will realize substantial savings and fill security gaps with a more integrated cybersecurity approach afforded by 5G service-based architecture.

In terms of market drivers for mobile network operators to expedite implementation of a more integrated 5G security approach, one of the primary areas of focus will be support of 5G-based private wireless networks for enterprise and industrial customers. While today’s private networks take a more old-school approach to security, more security-minded enterprise, industrial and government sector customers will realize greater cybersecurity through interconnection and managed services with leading carrier 5G security solutions.

Leading carriers will transform 5G security from a cost of doing business into a major market differentiator for business customers including direct to enterprise/industrial/government customers and via hybrid models involving neutral hosts and/or direct interconnect with private wireless networks. The challenging task for mobile network operators is to simultaneously convince business customers that they are more secure with them than without them, while not causing alarm about security holes that existed prior to implementation of 5G security market solutions.

However, there will also be completely new 5G security market threats and opportunities such as securing 5G network slicing for enterprise, industrial and government customers. Additional opportunities will emerge such as the ability for network operators of all types to better secure the digital identity of their customers thanks to an integrated ID management approach afforded by 5G service-based architecture.