5G Security Market to reach USD 15.9 billion in 2030, at a CAGR of 40.1%

The 5G Security Market is expected to grow from USD 1.5 billion in 2023-e to touch USD 15.9 billion in 2030, growing at a CAGR of 40.1%. The massive increase in connected devices is indeed a significant driver for the 5G security market. As 5G technology continues to roll out globally, one of its key features is the ability to support a massive number of connected devices per unit area. This capability is crucial for enabling the Internet of Things (IoT), smart cities, industrial automation, and various other applications that rely on a vast network of interconnected devices.  

The automotive industry is leveraging 5G for connected vehicles and intelligent transportation systems. Security is paramount to ensure the safety of connected vehicles, prevent cyber-attacks on transportation infrastructure, and safeguard sensitive data transmitted within the transportation ecosystem. The growth in machine-to-machine communication, a key aspect of IoT and connected devices, necessitates security solutions that can handle the unique characteristics and requirements of M2M interactions.  

Non-standalone (NSA) 5G allows for a gradual transition from 4G to 5G by leveraging existing LTE infrastructure. This approach facilitates a smoother upgrade path for network operators. NSA 5G enables quicker deployment compared to standalone 5G, as it builds upon the existing LTE network. This can lead to faster availability of 5G services in certain regions.

NSA 5G involves the interworking of 4G and 5G networks. Ensuring security during this interworking phase is crucial to prevent vulnerabilities that could be exploited by malicious actors. Dual connectivity, where devices simultaneously connect to both 4G and 5G networks, introduces potential security challenges. Security measures must address the seamless handover between these networks and to do so, NSA 5G security will witness significant growth by 2030.

Source: Intent Market Research Analysis

North America, including the US and Canada, has been at the forefront of deploying 5G infrastructure. Telecom operators are actively expanding their 5G coverage, leading to a growing need for robust security solutions. The deployment of 5G in North America spans critical infrastructure sectors, including energy, healthcare, finance, and transportation. Protecting these critical systems against cyber threats is a priority, leading to increased demand for 5G security solutions.

Beyond telecom operators, enterprises in North America are investing in 5G security solutions to protect their networks, data, and connected devices as they adopt 5G technology for various business applications.

Major players operating in the global 5G security market are AT&T, Atos, Check Point, Ericsson, Fortinet, Huawei, Juniper Network, Nokia, Palo Alto, and Thales, among others. These players are adopting organic and inorganic strategies to expand their business.

Some of the important developments in the recent past are mentioned below:

• In November 2023, Ericsson announced its collaboration with Concordia University, the University of Manitoba, and the University of Waterloo to build cyber resilient and secure 5G networks through automation and AI.
• In September 2023, Fortinet, the global cybersecurity leader driving the convergence of networking and security, and NOW Corp, a company specializing in digital connectivity solutions, have entered into a strategic Memorandum of Understanding (MOU) to enhance cybersecurity and 5G security in the Philippines, expediting the nation’s digital transformation journey.