Palo Alto Networks, a California-based company, provides network security solutions to protect clients from security breaches and cyberattacks. Its broad solutions provide security across networks, endpoints, and the cloud. Ericsson, a global telecom services and equipment provider, has four business segments: networks, digital services, managed services, and emerging businesses. The networks segment provides products and solutions for mobile and fixed communication. The manufacturing industry vertical needs to protect its entire manufacturing process and network infrastructure from the evolving volumetric cyberattacks with the help of 5G security solutions. MarketsandMarkets forecasts the global 5G Security Market to grow from USD 1.3 billion in 2022 to USD 7.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 41.6% during the forecast period. Top companies in the 5G security market include Ericsson, Palo Alto Networks, Cisco, Allot, Huawei, and Nokia.
According to MarketsandMarkets, the global 5G Security Market size is projected to reach USD 7.2 billion by 2027, growing from USD 1.3 billion in 2022, at a Compound Annual Growth Rate (CAGR) of 41.6% during the forecast period. The report lists Ericsson (Sweden), Palo Alto Networks (US), Cisco (US), Allot (Israel), Huawei (China), A10 Networks (US), Nokia (Finland), F5 Networks (US), Juniper Networks (US), Spirent (US), Fortinet (US), Mobileum (US), Trend Micro (US), ZTE (China), Akamai (US), Colt Technology (UK), CLAVISTER (Sweden), Radware (Isra, and Microamp Solutions (Poland) as the major players in the market.
The manufacturing industry vertical has majorly adopted a new generation of M2M systems, mobile apps, and hosting services, relying heavily on software to automate processes, manage supply chains, facilitate R&D, and digitize processes and products. However, cyberattacks pose a significant threat to the confidentiality of data, leading to data loss and system breakdowns, ultimately delaying manufacturing speed. Therefore, the manufacturing industry vertical needs to protect its entire manufacturing process and network infrastructure from the increasing volumetric cyberattacks with the help of 5G security solutions. The manufacturing segment is expected to grow at the highest market share during the forecast period.
The 5G NR standalone network, which mainly comprises 5G RAN and 5G core networks, is a completely new radio network for the 5G network. 5G NR standalone solutions are expected to be more effective than 5G NR non-standalone solutions, with various new in-built capabilities such as network slicing, ultra-low latency, Control and User Plane Separation (CUPS), multi-Gbps support, and virtualization. Currently, the deployment of 5G security solutions in the 5G NR standalone segment is at a nascent stage, but the segment is expected to grow exponentially during the forecast period.
The 5G security market is dominated by major vendors such as Ericsson, Palo Alto Networks, Cisco, Allot, Huawei, A10 Networks, Nokia, F5 Networks, Juniper Networks, Spirent, Fortinet, Mobileum, Trend Micro, ZTE, Akamai, Colt Technology, CLAVISTER, Radware, AT&T, Riscure, Avast, G+D Mobile Security, Check Point, ForgeRock, Positive Technologies, Cellwise, Banu Networks, Suavei, Cachengo, Broadforward, Trilogy, Movandi, Deepsig, EdgeQ, Alcan systems, Mixcomm, and Microamp Solutions. These vendors have implemented various strategies such as partnerships, business expansions, mergers and acquisitions, agreements, and collaborations, and new product launches to expand their presence in the 5G security market. The most common strategies adopted by businesses include partnerships and new product launches, which helped them transform their offerings and expand their customer base.
Ericsson, a global telecom services and equipment provider, has four business segments: networks, digital services, managed services, and emerging businesses. The networks segment provides products and solutions for mobile and fixed communication; the digital services segment includes software, services, and hardware for Business Support Systems (BSS), Operational Support System (OSS), cloud communication, cloud core, and cloud infrastructure. The managed services segment provides operators with networks, IT managed services, network designs, optimization, and application development and maintenance. Ericsson’s customers are present in North America, Europe, the Middle East & Africa, Latin America, and the Asia Pacific.
Palo Alto Networks, a California-based company founded in 2005, provides network security solutions that enable clients to safely run applications on their networks and prevent security breaches or targeted cyberattacks. Its broad solutions provide security across networks, endpoints, and the cloud. The company offers firewalls that identify and control applications, scan content to stop threats, and prevent data leakage. Palo Alto Networks has a strong presence in North America, Europe, Asia Pacific, Middle East & Africa, and Latin America, delivering solutions and services to SMEs and large enterprises across various industry verticals, such as electric utilities, BFSI, healthcare, oil and gas, retail, ICS and SCADA, government, and education.
Don’t miss interesting posts on Famousbio
