Adoption of Cloud-Based Services Leading to the Expansion of Global 5G Security Market

The adoption of fifth-generation technology & rising attacks on critical infrastructure. Hackers are targeting IoT devices & taking advantages of known vulnerabilities. Nowadays, all verticals are adopting automation with the integration of IoT & high-speed networks. Critical infrastructure such as electricity, water, & other important resources, are among one of the early adopters of technologies & are in the phase of automation. Furthermore, adoption fifth-generation technology has been a leading factor, as fifth-generation technology offers secure access to various applications & provides user protection for network operations. It also delivers much lower network latencies than 4G for resource-constrained devices.

According to Marketlook Consulting’ research report “Global 5G Security Market Analysis, 2021”, the Global 5G Security market is anticipated to grow at a CAGR 35.5% during 2022-29. The market would reach to USD 14.9 Bn by 2029.

Based on Component, market is segmented into solutions & services. Solution accounts for the largest market growth. End-user demand for services has risen as a result of changing technological developments. The development of 5G security networks necessitates specialized knowledge & skill-sets, resulting in increased demand for consultancy.

Based on Deployment, market is bifurcated into on-premises & cloud. Cloud based accounts for the largest portion of the market, as cloud is the deployment method thar is expanding the fastest in the 5G security industry. The cloud deployment aids in DNS management, traffic rerouting & website traffic security.

“Global 5G Security Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for 5G security providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.      

Asia Pacific Dominated the Market

Based on Leading regions, Asia Pacific dominated the global 5G security market in 2021 and is projected to maintain its dominance during the forecasted period 2022-29. Asia Pacific is dominating the market currently, & is expected to witness a stellar growth globally owing to enormous lucrative opportunities provided by surging digitalization & cloud computing services, along with an increasing focus on customer privacy laws & expanding e-commerce sector. Thus, over the past few years APAC businesses have rapidly digitalized, which has sometimes resulted in straining cloud networks & data centers in the forthcoming period as stated in Marketlook Consulting research report “Global 5G Security Market Analysis, 2021”. 

According to Marketlook Consulting’, the key players with a considerable market share in the global Air Purifier market are Ericsson (Sweden), Palo Alto Networks (US), Cisco (US), Allot (Israel), Huawei (China), A10 Networks (US), Nokia (Finland), F5 Networks (US), Juniper Networks (US), and Spirent (US).

Market Segmentation:

1. By Component (Solutions & Services)
2. By Deployment (On-premises & Cloud)
3. By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa)
4. By End Users (Hotels, Business Parks, Education, Healthcare)
5. By Company (Ericsson, Palo Alto Networks, Cisco, Allot, Huawei, A10 Networks, Nokia, F5 Networks, Juniper Networks, and Spirent)

Key questions answered in the study:

1. What are the current and future trends of the 5G security industry?
2. How the industry has been evolving in terms of end-user demand and deployment?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the 5G security industry?
5. What is the customer orientation, purchase behavior, and expectations from the 5G security firms across various regions?