IOT 5G Security Market Size, Share, Growth and Industry Analysis by type (On-Premises and Cloud) by application (Virtual & Augmented Reality, Connected Automotive, Smart Manufacturing, Wireless EHealth, Smart Cities and others) and Regional Forecast 2032

Updated On: 04 November 2024

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IOT 5G SECURITY MARKET REPORT OVERVIEW

The IOT 5G Security Market Size is Projected to be worth US$ 1192.1 Million in 2023. The Market is likely to Surpass US$ 6224.7 Million by 2032 at a CAGR of 18.2% During the Forecast period [2024-2032].

5G security is the combination of cyber and physical protection for the underpinning 5G network structure. It includes software & tackle, druggies of the network, and the business covering it. 5G security includes five core parcels communication security, identity operation, adaptability, sequestration, and security assurance. It allows the diversity of operations and significant performance benefits, as it leverages pall- grounded coffers, virtualization, network slicing, and other arising technologies.

The fifth generation (5G) network is a wireless technology that includes a whole ecosystem of radio frequentness, data transfers, and specialized dispatches, which needs better security. Network slicing and significant security expansion over 4G and LTE are also anticipated to produce further demand for 5G security results. Also, strict government regulations to help data thefts by using 5G operations are also anticipated to produce economic growth in the IOT 5G security market size during the forecast period.

COVID-19 Pandemic and Russia-Ukraine war

"Supply Chain Disruptions Led To Temporary Shortages of Products"

The COVID- 19 pandemic and the Russia- Ukraine conflict have increased cybersecurity pitfalls in the IoT 5G security market. The rapid-fire digital metamorphosis during the epidemic has created new openings for cyber attacks, while geopolitical pressures have raised enterprises about state- patronized attacks. Governments are enforcing stricter regulations on data sequestration and security, egging businesses to invest in secure IoT 5G results to misbehave with regulations and cover sensitive data. Overall, there's an increased demand for advanced security measures in the IoT 5G market to cover against evolving pitfalls.

RECENT TRENDS

"Advance Technologies and Development Solution To Be A Prominent Trend"

The IoT 5G security market is passing significant developments in colourful areas. Recent trends include a focus on endpoint security to cover against cyber pitfalls, relinquishment of AI and machine literacy for enhanced security capabilities, integration of block chain technology for secure data deals, perpetration of zero trust security models to reduce bigwig pitfalls, and prioritization of nonsupervisory compliance and data sequestration. These trends reflect the assiduity's sweats to address the evolving cyber security challenges and insure the protection of data and bias in a fleetly changing technological geography.

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IOT 5G SECURITY MARKET SEGMENTATION

By Type

Based on by type IOT 5G security market is bifurcated into on premises and cloud.

• On Premises: On-Premises security involves implementing security measures within the physical infrastructure of an organization and is suitable for those who prefer to have full control over their security systems.

• Cloud: The Cloud market, on the other hand, offers security services provided by third-party vendors who manage and store data in the cloud. This option is attractive for businesses seeking cost-effective and scalable security solutions that can be accessed remotely.

By Application

Based on by application IOT 5G security markets is bifurcated into virtual & augmented reality, connected automotive, smart manufacturing, wireless ehealth, smart cities and others.

• Virtual & Augmented Reality: Virtual and Augmented Reality (VR/ AR) technologies are decreasingly integrated into IoT and 5G security strategies to ameliorate cybersecurity measures. They grease realistic training simulations, visualization of pitfalls, monitoring and analysis of security incidents, remote security operations, and enhanced stoner authentication styles. By using VR/ AR, associations can strengthen their cybersecurity defenses and better cover against evolving cyber pitfalls in the IoT and 5G ecosystem.

• Connected Automotive: Connected automotive in the IoT  5G security involves integrating IoT 5G connectivity in vehicles for functionalities like diagnostics and motorist backing. Challenges include cybersecurity pitfalls from cyberattacks, taking secure communication, real- time trouble discovery, software updates, and data privacy measures to cover vehicle data and insure nonsupervisory compliance.

• Smart Manufacturing: Smart manufacturing in the IoT 5G security market involves using IoT device and 5G connections to improve manufacturing processes. Crucial aspects include cybersecurity measures to cover data, secure network connections, insure data sequestration, and misbehave with assiduity norms and regulations.

• Wireless EHealth: Wireless EHealth in the IoT 5G security request utilizes IoT device and 5G connectivity to enhance healthcare services through remote case monitoring, telemedicine, and data operation. Crucial aspects include icing data security, sequestration, and compliance with regulations, as well as supporting remote surgery and robotic healthcare operations, and promoting scalability and interoperability in healthcare systems.

• Smart Cities:  IoT and 5G contribute to the development of smart cities, which necessitate robust security measures to protect against potential cyber threats.

• Others: Additionally, other markets also benefit from IoT 5G security solutions to ensure the protection and privacy of their connected devices and data.

DRIVING FACTORS

"Increasing Connectivity Requirement Rates Drive the Growth of the Market"

The growing adaptation of IoT bias across diligence, coupled with the demand for high- speed, low- quiescence communication, is driving the need for robust security results in the IoT 5G security request. As further devices come connected via 5G networks, the significance of securing data, devices, and network connections to help cyber pitfalls and insure data sequestration is consummate.

"Rapid Digital Transformation Rates Drive the Growth of the Market"

The accelerating pace of digital transformation in colourful sectors, similar as manufacturing, healthcare, transportation, and smart metropolises, is fueling the expansion of the IoT 5G security request. Organizations are using IoT device and 5G connectivity to enhance functional effectiveness, ameliorate client gests, and drive invention. Securing these digital ecosystems against cyber pitfalls and icing data protection are vital factors of successful digital metamorphosis enterprise.

RESTRAINING FACTORS

"Complexity of Security Solutions Implementation Restrain the Market Growth"

The complexity of enforcing security results in the IoT 5G security request is a restraining factor due to challenges similar as managing different ecosystems, integrating security measures without dislocation, addressing skill gaps in cybersecurity moxie, and icing compliance with regulatory standards.

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IOT 5G SECURITY REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America and Middle East & Africa.

China is a leader in 5G technology. According to the latest statistics from the Ministry of Industry and Information Technology, China newly added 887,000 5G base stations in 2022 (currently reaching 2.312 million, accounting for more than 60% of the world's total), and 110 cities in China have reached gigabit city construction standard. According to the Digital China Development Report (2022) released by the State Internet Information Office, by the end of 2022, China had built a total of 2.312 million 5G base stations, with 561 million 5G users, accounting for more than 60% of the world.

KEY INDUSTRY PLAYERS

Leading market competitors are concentrating on providing 5G security solutions that may assist Industries in increasing operational efficiency and work conditions. Market players are focusing on methods such as collaboration and product launch to expand their product offerings. The product launch aims to validate security in the 5G networks. For instance, in January 2022, CTIA launched 5G Security Test Bed (STB) for validating the security in the commercial 5G networks.

LIST OF MARKET PLAYERS PROFILED

• Ericsson (Sweden)
• Palo Alto Networks (U.S.)
• Cisco (U.S.)
• Allot (Israel)
• Huawei (China)
• A10 Networks (U.S.)
• Nokia (Finland)
• F5 Networks (U.S.)
• Juniper Networks (U.S.)
• Spirent (U.K.)
• Fortinet (U.S.)
• Mobileum (U.S.)
• Trend Micro (Japan)
• ZTE (China)
• Akamai (U.S.)
• Colt Technology (U.K.)
• CLAVISTER (Sweden)
• Radware (Israel)
• AT&T (U.S.)
• Riscure (Netherland)
• Avast (Europe)
• G+D Mobile Security (Europe)
• Check Point (Israel)
• ForgeRock (U.S.)
• Positive Technologies (Russia)
• Cellwise (China)
• Banu Networks (U.S.)
• Suavei (China)
• Cachengo (U.S.)

INDUSTRIAL DEVELOPMENT

5G is a key and cross-age technology that opens the era of the Internet of Everything, and all countries are grabbing market share. The Global Mobile Economy Development Report 2023 released by GSMA Intelligence pointed out that by the end of 2022, the number of global mobile users would exceed 5.4 billion. The mobile ecosystem supports 16 million jobs directly and 12 million jobs indirectly.

REPORT COVERAGE

This report, based on historical analysis (2018-2022) and forecast calculation (2023-2029), aims to help readers to get a comprehensive understanding of global IoT 5G Security market with multiple angles, which provides sufficient supports to readers’ strategy and decision making.