5G Security Market Report 2024 Status and Outlook, Industry Analysis, Growth Factor 2030

5G Security Market is expected to reach US $ 17.18 Bn by 2029, at a CAGR of 49.2% during the forecast period.

By Divyapawar7 24 Jan 2024

by Component

1.Services
Consulting
Implementation
Maintenance Support
2.Solution
Next-Generation Firewall
Data Loss Prevention Antivirus/Antimalware
Distributed Denial Of Service Protection (DDoS)
Other Solutions

The 5G Security market is segmented into services and solutions based on the component. The subsegments of the service segment are implementation, maintenance support, and consulting. The fastest rate of growth is anticipated in the services segment. Since they are essential to addressing customers' needs, services including network testing, setup and optimization, support and maintenance, and consultancy are regarded as the foundation of 5G security.

by Type

1.EndpointVirtual Augmented Reality (AR)
2.Connected Automotive
3.Smart Manufacturing
4.Smart Cities
5.Others

The 5G Security market is split into cloud and on-premise segments based on deployment mode. Over the course of the forecast period, cloud deployment is anticipated to increase at the quickest CAGR rate. By putting 5G security technologies and services on the cloud, organizations will save money on hardware, software, storage, and technical staff.The form of cloud deployment is commonly employed for both private and public clouds, and it may vary based on the specific requirements of the customer. The market is being driven by the high rate of cloud computing adoption, the growing number of internet users, and the growing need for system integration.

by Application

1.Cloud
2.On-premises
by End-User 1.SMEs
2.Large Enterprises

The market is divided into segments according to the application, including linked automobiles, smart manufacturing, virtual and augmented reality (AR), smart cities, and others. The demand for AR devices and applications in healthcare, expanding investments in the AR market, and growing demand for AR in the retail and e-commerce sectors due to COVID-19 are the reasons for the fastest-growing AR market. For example, users can use VR headsets to communicate with the virtual environment.

The global market for 5G security is divided into several segments based on the industry verticals, including banking, financial services and insurance (BFSI), retail and consumer goods, communications, healthcare, and others. With over 20% of total revenue in 2022, the IT and telecom segment led the market. Over the course of the projection period, the segment is anticipated to retain its dominance thanks to significant expenditures made by major companies in the newest communication technologies.