Allied Market Research published a report, titled, “Next-Gen Cybersecurity for 5G Networks Market by Component (Solution and Services), Deployment (On-premise and Cloud), End User (Other Industries and Telecom Operators), and Industry Vertical (Manufacturing, Healthcare, Retail, Automotive & Transportation, Public Safety and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032”.
The global next-gen cybersecurity for 5G networks market is growing due to several factors such as technological advancements and the expansion of networks beyond 5G Radio Access Networks (RAN) are some of the main factors anticipated to propel the growth of the market. However, high initial costs act as restraints for next-gen cybersecurity for 5G networks market. In addition, the high penetration of 5G and IoT technology is projected to provide many opportunities for market growth during the forecast period.
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The next-gen cybersecurity for 5G networks market was valued at $2.1 billion in 2023, and is estimated to reach $41.9 billion by 2032, growing at a CAGR of 39.4% from 2024 to 2032.
The next-gen cybersecurity for 5G networks market share is segmented into component, deployment, end user, industry vertical, and region. On the basis of component, the market is divided into solutions and services. By deployment, the market is segregated into cloud and on-premise. On the basis of end user, the market is bifurcated into other industries and telecom operators. On the basis of industry vertical, the market is classified into manufacturing, healthcare, retail, automotive & transportation, public safety, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
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By component, the solution segment held the highest market share in 2023. One of the major factors fueling the segment’s growth is the quick adoption of 5G security solutions by end-user businesses to protect their networks. To secure the networks, major market players are concentrating on developing 5G security solutions to further protect the enterprise network architecture.
By deployment, the cloud segment held the highest market share in 2023. As cloud solutions reduce the need for substantial capital expenditure on physical hardware and maintenance, making it an effective option for enterprises looking to deploy 5G networks efficiently.
By end user, the telecom operators segment held the highest market share in 2023. The segment growth is attributed to the expanding number of mobile users, the increasing need for high-speed data connectivity, and the rising demand for value-added managed services.
By industry vertical, the manufacturing segment held the highest market share in 2023 as 5G enables the deployment of many IoT devices within the manufacturing sector. These devices facilitate real-time monitoring, predictive maintenance, and improved efficiency in smart factories.
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By region, North America held the highest market share in terms of revenue in 2023 and is expected to lead the market in terms of revenue throughout the forecast period. The growth of internet usage and the continued growth of retail, consumer goods, and e-commerce in countries, such as the U.S. and Canada are expected to drive the growth of next-gen cybersecurity for 5G networks market in North America.
Players: –
• ERICSSON
• Palo Alto Networks
• Thales Group
• A10 Networks, Inc.
• Allot
• AT&T
• F5, Inc.
• Check Point Software Technologies Ltd.
• Fortinet, Inc.
• Spirent Communications.
The report provides a detailed analysis of these key players in the global next-gen cybersecurity for 5G networks market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to highlight the competitive scenario.
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Recent Industry Development:
• In February 2024, Nokia introduced that its NetGuard Cybersecurity Dome software is integrated with a telco-centric GenAI assistant to give communication service providers (CSPs) and enterprises faster and higher quality detection and resolution capabilities in the face of cyber criminals increasingly using GenAI to launch more sophisticated attacks on critical infrastructure.
• In June 2024, Trend Micro Incorporated unveiled its first consumer security solutions tailored to safeguard against emerging threats in the era of AI PCs.
• In August 2022, NEC partnered with Fortinet, to deliver the required solutions and expertise to facilitate enterprises’ 5G adoption and CSPs’ success. The companies have focused on key network security use cases and services, such as radio access network (RAN), mobile roaming, Gi-LAN/N6, and telco/edge cloud security.
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