5G brings new security threats says Mind Commerce report
The fifth generation (5G) of cellular communications introduces many new capabilities for the Information and Communications (ICT) industry, which will lead to a variety of new and enhanced apps and services ranging from flexible back-haul solutions to mobility for highly immersive technologies such as Virtual Reality (VR). With these new capabilities come some unique challenges associated with securing 5G infrastructure, devices, applications, and data.
There is more at stake with 5G than its predecessor networks, LTE and 3G. New and enhanced immersive experiences such as VR based telepresence will become the norm for enterprise as VR extends beyond consumer gaming and simulations into business markets.
While some of the same types of security solutions will be required for 5G as other ICT infrastructure elements, such as network firewall protection, there will also be many new areas of concern. New security threats such as virtual identity spoofing mean that the 5G application layer will be at least as important as securing lower technology layers such as the physical and transport portions of the stack. Accordingly, Mind Commerce sees infrastructure, apps, and data as all having great importance within the 5G security market.
The overall global 5G security market will reach approximately $4 billion (€3.45 billion) by 2023 with certain industry verticals leading the way. One of those key segments will be the financial services industry, which alone represents a $249 million (€214.48 million) global opportunity for the overall 5G security market by 2023.
Through 2023, large corporations will be the largest global business segment for 5G security at $2.1 billion (€1.81 billion). However, the SMB market is anticipated to overtake the large enterprise segment by 2030.
5G Security Market: Technologies, Solutions, and Market Outlook 2018 – 2023 evaluates the 5G threat landscape as well as technologies and solutions to secure networks, platforms, devices, data, and applications. The report assesses the 5G security market outlook and potential for many 5G security solutions and services.
It also evaluates the impact of security functions across various technologies including Mobile Edge Computing (MEC), IoT networks, and general mobility infrastructure. The report includes detailed 5G security market forecasts for all major technologies, industry verticals, solutions and service types from 2018 – 2023.