Security News > 2021 > February > 5G security market to reach 5.226 billion by 2026

The 5G security market size is projected to grow from $580 million in 2020 to $5.226 billion by 2026, at a compound annual growth rate of 44.3% during the forecast period, according to MarketsandMarkets.

The major drivers for the 5G security market include rising security concerns in the 5G networks, increasing ransomware attacks on IoT devices, rising attacks on critical infrastructure, and increasing IoT connections paved way for mMTC with enhanced security requirement.

Services segment to grow at the highest CAGR. Services play a vital role in the deployment and integration of 5G security solutions in an enterprise's business environment.

Services are considered an important component of the 5G security market, as they majorly focus on improving the business processes and optimizing the enterprise's network.

APAC region holds largest market share in the 5G security market in 2020.

Asian telecom service providers, vendors, and government firms are determined to take the lead in 5G R&D. The infrastructural growth in APAC, especially in Japan, South Korea, Australia, Singapore, China, and India, and the increasing deployment of 4G and 5G networks present huge opportunities for the implementation of the 5G security solutions.

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