5G Security Market to Reach $24.9 Billion by 2030: Key Drivers and Regional Insights

NEW YORK - Aug. 6, 2024 - PRLog -- The global 5G security market is projected to be worth USD 24.9 billion by 2030, growing at a CAGR of 36.2%.

A key factor driving the market is the extensive deployment of 5G networks in different parts of the world. The demand for strong security solutions to safeguard the networks from cyber threats grows as more nations and telecom operators deploy 5G infrastructure.

With lots of devices connecting to 5G networks, the internet of things (IoT) ecosystem is growing fast. These gadgets, which include smartwatches, smart homes, industrial sensors, and autonomous vehicles, produce a huge amount of data and need safe communication pathways.

The need to safeguard these IoT applications and devices is driving demand for 5G security solutions.

Governments and regulatory agencies are paying more attention to security requirements and guidelines for 5G networks. For telecom operators and service providers to maintain the integrity and confidentiality of the network infrastructure, compliance with these regulations is crucial. 5G security solutions are being adopted due to the requirement to fulfill these legal duties.

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The 5G security market is dominated by North America. Strong security solutions are now in high demand because of the early adoption of 5G networks by major telecom operators in the U.S.

Moreover, North America has established a robust cybersecurity ecosystem, which fuels the demand for 5G security solutions through a strong focus on cybersecurity and strict regulatory standards. Particularly in telecommunications and cybersecurity, the U.S. has strict regulatory regulations and standards.

The existence of 5G-dependent industries, including healthcare, banking, technology, and defense, also increases the necessity for specialized security solutions.

The fifth-generation NR non-standalone architecture category accounted for more than 64% share of the global revenue in 2022.

With the help of existing infrastructure and spectrum resources, the 5G NR non-standalone (NSA) architecture enables a smooth migration from 4G to 5G. Network updates take less time and money because of this evolutionary strategy. Utilizing the current 4G core network offers a quicker time to market for 5G services. These benefits make it a desirable choice, especially for operators with tight budgets and a pressing need for 5G implementation.

The category's market dominance is a result of North America's early 5G network adoption and intense attention to cybersecurity. The 5G NR non-standalone (NSA) architecture continues to  be preferred due to its seamless evolution, quicker time to market, improved coverage, better spectrum utilization, and affordable deployment.