5G technology is used in different industries such as automobile, medicine, and IoT devices. As the demand for 5G technology increases, the need for 5G security also increases. This is one of the driving factors of the 5G security market. As cyber threats increases, providing security at multiple levels, such as in devices, cloud RAN infrastructure, and air interface equipment, also increases, thereby driving the market.
There is a need of high security for new applications and services, which use 5G technology. As many organizations have started adopting cloud-based solutions, the demand for security of these services and solutions increases, thereby driving the market.
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However, development of 5G networks requires high frequencies. But many telecommunication services and government agencies are already using these high frequencies. Accessing the high frequencies spectrum is very important for the development of 5G infrastructure.
But as they are used for different applications, there is no clear standardization for the distribution of these spectrums. Different government agencies have different regulations.
For instance the UK government initiated 6 GHz frequency band for 5G infrastructure whereas 3.5GHz of 5G service. There is no specific standard for the allocation of the spectrum and this is one of the major restraints of the market.
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Increased demand for private 5G network technology across private sectors, governments, and organizations is one of the opportunities for the 5G security market. Private 5G networks provide features, such as network slicing, to effectively protect their resources.
One of the latest features of 5G security is IMSI feature. This feature is used to authenticate the cell phone device as it travels through different networks. Before sending the device through network, 5G technology uses a key to encrypt the IMSI. This encryption helps to protect information from cyber criminals.
Companies Covered: A10 Networks, Inc., Allot, AT&T, Avast Software, Cisco, Nokia, ZTE, Telefonaktiebolaget LM Ericsson, Huawei Technologies CO., Ltd., Akamai Technologies
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Impact of COVID-19 on 5G Security Market-
- Due to the lockdown and restrictions imposed, many businesses operations have shutdown. Many governments and organization have postponed their infrastructure activities due of COVID-19.
- Attributed to the COVID-19 pandemic, many consumers are now conscious about their income and are not ready to spend on upgrading to 5G technology. This has caused the slowdown of 5G deployments. In addition, due to COVID-19, a workforce of many organizations is working remotely which there is more risk of cyber-attacks. As most of the workforce is outside the office, it becomes really difficult for IT departments to ensure the security of company assets. Thus, many organizations have started investing in 5G security as they provide enhanced user privacy, protect integrity, and encrypt data, thereby reducing the risk of cyber-attacks.
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