5G Security Market projected to reach USD 9.2 billion by 2028, at a CAGR of 38.9% from 2023 to 2028.
The 5G Security Market is estimated at USD 1.7 billion in 2023 and is projected to reach USD 9.2 billion by 2028, at a CAGR of 38.9% from 2023 to 2028, according to a new report by MarketsandMarkets.
The 5G network is connected to vertical industrial networks, such as automobiles, medicine, factories, and IoT devices which creates a network connection structure that comprises complex heterogeneous networks centred on the 5G networks.
Addressing the particular security concerns posed by 5G technology, such as sophisticated threats, network slicing, IoT security, and edge computing, will be the focus of the 5G Security Market in the future. The integrity and resilience of 5G networks and apps will depend on cutting-edge technologies, cooperation, and a proactive security posture.
By offering, the solutions segment is estimated to account for the largest market share in 2023.
Due to the increasing complexity and interconnectedness that 5G technology delivers, security is a major problem. With 5G, the fifth generation of wireless networks, data rates are increased, latency is decreased, and there is support for a huge number of connected devices. These benefits, meanwhile, also increase the potential attack surface for online attackers.
An all-encompassing solution calls for a multifaceted strategy to solve the security issues around 5G. To protect the secrecy of data exchanged over the network, strong encryption mechanisms must first be put in place.
Second, strong authentication procedures and access controls must be in place to guarantee that only authorised individuals and devices can access the network. Thirdly, technologies for continuous monitoring and threat detection must be used to quickly spot and stop any suspicious activity.
By network security, RAN security is expected to register the largest market size during the forecast period.
Base stations and antennas that cover a particular area based on their capacity are included in Radio Access Network (RAN) components, as is a core network that includes a RAN controller. The heart of contemporary LTE networks must have an Evolved Packet heart (EPC). Numerous cyberattacks reduce the RAN’s performance and interfere with internet services by causing low latency. Because 5G security solutions shield RANs from cyberattacks, there is no bandwidth consumption from unauthorized traffic. All RAN interfaces transport important communication, and intruders who read or change the data can seriously damage the network. As a result, businesses have used 5G security solutions broadly.
By enabling video conferencing, cloud computing, and other collaborative capabilities, 5G makes it easier to work remotely and collaborate with others.