$16 billion: The booming 5G security market of tomorrow!

December 28, 2023
1 min read

According to a study from Knowledge Sourcing Intelligence, the 5G network security market is projected to reach $16.159 billion by 2028, growing at a CAGR of 41.82% from $1.986 billion in 2022. The escalating level of cyber threats is driving the demand for cybersecurity measures to protect data in the era of 5G networks. Cyberattacks have threatened $5.2 trillion in value globally, with millions of files lost or stolen each month. The market for 5G network security is categorized based on form factors (physical, virtual, and SaaS) and types (firewall, SSE, SWG, WAF, and others). WAFs are particularly popular for protecting web applications. Industries such as banking, telecommunications, government, and manufacturing rely on 5G network security, with the telecommunications industry being the largest user. North America is expected to contribute significantly to the market, given the extensive investment in cybersecurity by governments in the region. Key players in the 5G network security market include Nokia Corporation, Palo Alto Networks, F5 Inc., Fortinet, Mobileum Inc., SecurityGen, and AT&T Inc.

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