The 5G network security market is anticipated to grow at a CAGR of 41.82% from US$1.986 billion in 2022 to US$16.159 billion by 2028.

NOIDA, UTTAR PARDESH, INDIA, December 27, 2023 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the 5G network security market is projected to grow at a CAGR of 41.82%, between 2022 and 2028 to reach US$16.159 billion by 2028.

Growing cyber threats are driving the growth of the 5G network security market. Cyber threats are becoming more advanced and sophisticated with the introduction of 5G networks which increases the demand for cyber security facilities to protect valuable and confidential data. For instance, as per the World Bank, cyberattacks threatened about $5.2 trillion in international value. Every month, 10.5 million files are lost or stolen, with 438,000 lost every hour, and a single massive attack can result in $53 billion in financial losses.

5G network security is the measures and protocols put in place to safeguard fifth-generation (5G) wireless networks from potential threats and vulnerabilities. It comes with numerous types such as firewall, and SSE. SWG, and WAF to provide network security in various industry verticals.

Numerous product launches and collaborations are occurring in the market, propelling the 5G Network security market upward. For instance, in February 2023, Atos, a global leader in managed security services announced the launch of its new 5Guard security service for organizations looking to deploy private 5G networks and telecommunications companies seeking integrated, automated, and organized security to protect and defend their valuables and customers. Additionally, in November 2023, Palo Alto Networks, announced the five new ML-powered Next-Generation Firewalls (NGFWs), outperforming 1.5 Tbps App-ID performance, and bringing industry-leading performance and security to emerging use cases in customers' surroundings to stop highly evasive threats in 5g service networks.

Access sample report or view details: https://www.knowledge-sourcing.com/report/5g-network-security-market

The 5G network security market, based on form factor is segmented into three main categories namely physical, virtual, and SaaS. The physical form factor is more prominent and accounts for a sizable portion of the 5G network security market.

The 5G network security market, based on type is segmented into five main categories namely firewall, SSE, SWG, WAF, and Others. WAFs are widely used to protect web applications against specific threats and account for a major share of the 5G network security market.

The 5G network security market, based on industry is segmented into five main categories namely banking, telecommunications, government, manufacturing, and others. 5G network security is predominantly used in the telecommunication industry to ensure robust network security and accounts for a major share of the 5G network security market.

North America is expected to contribute to a significant portion of the 5G network security market due to the favorable investment in cybersecurity by numerous governments in the region. As per the White House, the bipartisan infrastructure act invests $1 billion in cybersecurity for state, local, tribal, and territory governments. Additionally, in May 2021, the Minister of Innovation, Science, and Industry disclosed the new Cyber Security Innovation Network program. This program was established with an investment of $80 million to support Canada’s cybersecurity research and development.

The research includes coverage of Nokia Corporation, Palo Alto Networks, F5 Inc., Fortinet, Mobileum Inc., SecurityGen, and AT&T Inc. are significant market players in the 5G network security market.

The market analytics report segments the 5G network security market using the following criteria:

• By Form Factor

o Physical
o Virtual
o SaaS

• By Type

o Firewall
o SSE
o SWG
o WAF
o Others

• By Industry

o Banking
o Telecommunications
o Government
o Manufacturing
o Others

• By Geography

o Americas

• United States
• Others

o Europe, Middle East, and Africa

• Germany
• UK
• Others

o Asia Pacific

• China
• Japan
• South Korea
• Others

Companies Profiled:

• Nokia Corporation
• Palo Alto Networks
• F5, Inc.
• Fortinet
• Mobileum Inc.
• SecurityGen
• AT&T Inc.

Explore More Reports:

• 5G Network Emulator Market: https://www.knowledge-sourcing.com/report/5g-network-emulator-market

• 5G Network Infrastructure Market: https://www.knowledge-sourcing.com/report/5g-network-infrastructure-market

• 5G Network And Service Assurance Market: https://www.knowledge-sourcing.com/report/5g-network-and-service-assurance-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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