Market Size and Overview:

The Global 5G Secure Access Service Edge Market was valued at USD 476.67 Million and is projected to reach a market size of USD 765.43 Million by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 7%. 

Key Market Insights:

Managing existing networking connections and technologies poses challenges while also creating vulnerabilities that cybercriminals can exploit. The escalating trend toward remote work, increased traffic on public clouds, and heightened reliance on data centers exacerbate the risks of data security breaches. Consequently, there is a growing demand for secure access to data and networks, necessitating advanced network approaches and technologies. This imperative for a unified and simplified network security approach has led to the emergence of secure access service edge (SASE). 5G wireless mobile services enable a fully mobile and interconnected environment, offering diverse use cases and business models. With faster data speeds and minimal latency rates, 5G technology enhances user experiences across applications like Virtual Reality (VR), Augmented Reality (AR), video calling, and Ultra-High Definition (UHD) videos. The increasing need for high-speed data connectivity for unified Internet of Things (IoT) applications and AI, such as smart home energy management, is expected to drive the adoption of 5G services.

Market Drivers:

The global market for 5G systems is propelled by the increasing mergers and collaborations among major players.

Providers of 5G systems are fostering partnerships and collaborations with telecom operators, fueling the adoption of these services. Various industry verticals are embracing technological transformations to bolster productivity and operational efficiency in competitive environments. 5G wireless technology holds the potential to revolutionize these sectors, minimizing costs and enhancing productivity. Additionally, there is a continuous focus on improving energy management and gaining better control over energy generation and distribution networks, which is expected to drive market growth.

The 5G SASE market is bolstered by substantial investments in the healthcare sector to enhance facilities and consumer satisfaction.

Leading economies like the U.S. and China are poised to make significant investments in healthcare to improve existing facilities. The National Health Expenditure Account (NHEA) in the U.S. forecasts healthcare expenditure to surpass USD 5.8 trillion by 2030, with a CAGR of nearly 7% from 2023 to 2030. Modern healthcare facilities leverage technology-driven treatments, driving global market growth.

Governmental focus on enhancing infrastructure through emerging technologies contributes to market expansion.

Government policies favoring these technologies stimulate market growth, particularly in providing broadband access for public transportation systems like buses and high-speed trains. This initiative aims to offer high-speed internet access during transit for entertainment, information, and interaction with smart mobility components, fostering further market growth.

Market Challenges:

High costs and subscription prices of 5G technology may impede the growth of the 5G SASE market.

Elevated spectrum prices and subsequent increases in 5G service subscription prices are expected to restrain market growth. Despite major service providers investing heavily in deploying modern network infrastructure to expand their subscriber base, the market faces challenges during the introductory phase.

Segmentation Analysis

5G Secure Access Service Edge Market – By Industry Verticals:

• Consumer

• Enterprises

• Real Estate

 • Construction

• Agriculture

• Oil & Gas

 • Mining

• Retail

• Government

• BFSI

• Aerospace &Defense

 • Transportation & Logistics

• IT & Telecom

• Energy & Utility

• Media & Entertainment

• Healthcare & Social Work

 • Public Safety

• Manufacturing

In 2023, the enterprise segment leads the market, capturing the largest revenue share of approximately 94%. This segment is poised to maintain its dominance throughout the forecast period, primarily due to substantial investments by key players in cutting-edge communication technologies. The increasing demand for enhanced data speeds, particularly for residential and commercial purposes, is expected to propel growth within the IT & telecom segment. The deployment of 5G services is projected to facilitate high-speed broadband access for both residential and commercial settings, thereby driving segmental growth. Moreover, the escalating requirement for advanced broadband capacity to support virtual business meetings is forecasted to further bolster segment growth during the outlook period.

5G Secure Access Service Edge Market – By Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East and Africa

Asia-Pacific leads the market in 2023, commanding a share of approximately 40% and is expected to exhibit the fastest CAGR during the outlook period. Major market players in the APAC region, including China Telecom, China Mobile, SK Telecom, and KT Corp., are making significant investments in rolling out 5G network infrastructure across China, Japan, and South Korea. Furthermore, the surging demand for smartphones capable of supporting higher data speeds has spurred robust production of 5G-enabled smartphones throughout the region.

North America ranks as the second-largest regional market in 2023, with considerable investments in 5G network infrastructure, particularly in the U.S. The substantial investments in the U.S., aimed at establishing smart homes, industries, and city projects, are anticipated to drive regional market growth during the outlook period.

5G Secure Access Service Edge Market – By Companies:

Barracuda Networks, Inc.

Cato Networks

Check Point Software Technologies Ltd.

Cisco

Hewlett Packard Enterprise Development LP

McAfee, LLC

Open Systems

Palo Alto Networks

Versa Networks, Inc.

VMware, Inc.

The 5G Secure Access Service Edge Market is characterized by high fragmentation and intense competition among key players, who continuously engage in R&D and technological innovation.

COVID-19 Impact on the Global 5G Secure Access Service Edge Market:

The COVID-19 pandemic and subsequent lockdowns, coupled with travel restrictions imposed by governments worldwide, have compelled organizations to adopt remote working models. However, this transition to remote work has introduced challenges in managing productivity within a flexible work culture and ensuring robust security governance. Businesses now face heightened cybersecurity breaches and risks. Consequently, organizations are increasingly prioritizing the implementation of robust security frameworks. The growing need to establish effective security frameworks while ensuring adequate information access for employees through an integrated approach is expected to drive the adoption of SASE frameworks in the future.