Global 5G Security Industry to 2026 - Increasing Operator Investments for Dynamic Infrastructure Presents Opportunities
DUBLIN, Feb. 22, 2021 /PRNewswire/ -- The "5G Security Market by Component (Solutions (Next-Generation Firewall, Antivirus, DDOS Protection, DLP, Security Gateway) and Services), Network Component Security, Architecture, Deployment Type, End User, Vertical, and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global 5G security market size is projected to grow from $580 Million in 2020 to $5,226 Million by 2026, at a CAGR of 44.3% during the forecast period.
The 5G security market is gaining traction due to rising security concerns in the 5G networks, increasing ransomware attacks on IoT devices, rising attacks on critical infrastructure, and increasing IoT connections paved way for mMTC with enhanced security requirement. However, the high cost of 5G security solutions will restrain the adoption by SMEs.
Based on solution type, the DDoS protection solution segment is expected to grow with the fastest growth rate during the forecast period
The DDoS protection segment is projected to grow with the most rapid growth rate in 2020 to 2026. Enterprises use DDoS protection and mitigation solutions and services for adaptive defense against DDoS attacks. These attacks further affect the confidentiality, integrity, and availability of resources, which may result in billion-dollar losses for enterprises.
Enterprises segment to grow at the highest CAGR during the forecast period
Enterprises are undergoing digital transformation across different industries. Businesses are in various stages of implementing new technologies to develop new solutions, improve service delivery, increase operational efficiency, reduce cost, gain competitive advantage, and meet rising customer expectations. 5G will soon make it into the list of technologies enterprise will consider, with standalone 5G solutions that will enable various new industrial applications, such as robotics, big data analytics, IIoT and AR/VR in engineering and design, as well as new ways to provide remote support and training. As a result, enterprises will need 5G security mechanism to secure the entire network, applications, and devices.
Asia Pacific (APAC) region to record the highest growth and also account for the largest market share in the 5G security market
APAC region is set to dominate 5G, edge computing, blockchain, and 5G security technology, due to its size, diversity, and the strategic lead taken by countries, including Singapore, South Korea, China, Australia, and Japan. These countries have always supported and promoted industrial and technological growth. Also, they possess a developed technological infrastructure, which is promoting the adoption of 5G security solutions across all industry verticals. Moreover, the region has become the center of attraction for major investments and buiness expansion opportunities. Companies such as ZTE (China), Samsung (South Korea), and Huawei (China) are heavily investing in the upcoming 5G technology and are initiating field trials together with some of the leading mobile service carriers, such as China Telecom (China), KT (South Korea), SK Telecom (South Korea), China Mobile (China), SoftBank (Japan), and China Unicom (China).
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