5G security market set to boom – report

Some reassuring news for companies supplying tools to shore up security in 5G networks: According to projections from market research firm Reportlinker.com, the size of the global 5G security market will grow from $580 million in 2020 to $5.23 billion by 2026. That translates into an impressive CAGR of 44.3%.

The DDoS segment, calculates Reportlinker.com, will be the fastest-growing 5G protection solution through the forecast period.

Lock it down: The global 5G security market will apparently grow from $580 million in 2020 to $5.23 billion by 2026 (Source: Franck on Unsplash)
Lock it down: The global 5G security market will apparently grow from $580 million in 2020 to $5.23 billion by 2026
(Source: Franck on Unsplash)

The implied negative flipside for operators and enterprises, of course, is that more money will have to be spent on tackling 5G vulnerabilities. The report pointedly notes that the high cost of 5G security solutions will limit adoption by SMEs.

Market catalysts

Throwing 5G into the security spotlight is an increasing number of ransomware attacks on IoT devices, adds the research firm. More frequent assaults on critical infrastructure, plus the "enhanced security requirements" needed for 5G-based mMTC (massive machine-type communications), are red-flagged as other market catalysts.

Reportlinker.com further anticipates that enterprises turning to standalone 5G to enable various new industrial applications – such as robotics, big data analytics, IIoT, as well deployment of AR/VR in engineering and design – will need mechanisms to secure the "entire" 5G network.

Asian hot-bed of security know-how

According to Reportlinker.com, the Asia-Pacific (APAC) region will be home to the highest growth and account for the largest market share in the 5G security market

It reckons APAC is "set to dominate 5G, edge computing, blockchain, and 5G security technology," mainly because of its size, diversity, and the "strategic lead" taken by a number of countries, including Singapore, South Korea, China, Australia and Japan.

These countries also possess, asserts Reportlinker.com, a developed technological infrastructure, which is promoting the adoption of 5G security solutions across all industry verticals.

Europe a 5G security laggard?

While Reportlinker.com lauds APAC when it comes to 5G security, Europe is not quite getting its act together on this if a recent report from the European Court of Auditors (ECA) is anything to go by.

Want to know more about security? Check out our dedicated security channel here on Light Reading.

A year-long ECA probe into how European Union (EU) member states are dealing with 5G security found that while "member states have started to develop and implement necessary security measures to mitigate risks, they seem to be progressing at a different pace."

More worryingly, Annemie Turtelboom, the ECA member leading the audit, indicated that some EU countries were bypassing supplier security checks in order to speed up 5G rollout.

— Ken Wieland, contributing editor, special to Light Reading

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