Global 5G Secure Access Service Edge Market Size (2023-2030)

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%. 

Market Overview

The existing networking connections and technologies are difficult and complex to manage but easy for cybercriminals to intrude and attack. The increasing preference for remote working culture, the rise in traffic across public clouds, and the increasing dependence on data centres are further fuelling the data security breach risks. At this juncture, the increasing demand for ensuring secure access to data and networks is drawing the need for advanced network approaches and technologies. The following need for a unified and simplified approach to strengthen the overall network security has resulted in the emergence of secure access service edge. 5G wireless mobile services support a fully mobile and connected environment by providing a wide range of use cases and business models to the people. Moreover, faster data speeds and a very low latency rate offered by the 5G technology would improve the user experience while using 5G services for various use cases, such as Virtual Reality (VR) and Augmented Reality (AR) gaming scenes, seamless video calling, and Ultra-High Definition (UHD) videos, among other applications. The increasing demand for high-speed data connectivity for unified Internet of Things (IoT) applications and AI, such as smart home energy management, is predicted to propel the adoption of these services over the forecast timeline.

Market Drivers:

The rising opportunities in the 5G system due to increasing mergers and collaborations from the major players are boosting the market growth worldwide

The increasing focus on building partnerships and collaborations by 5G system providers with other telecom operators is anticipated to drive the adoption of these services. Many industry verticals are aiming at technological transformations to enhance their overall productivity and operational efficiency to sustain themselves in a highly competitive environment. The 5G wireless technology has the potential to help in making remarkable transformations across all these sectors by minimizing overall costs and enhancing productivity. The continuous emphasis on enhancing energy management and gaining better control of the energy generation and distribution network is also anticipated to bolster the market growth over the forecast timeline.

The surging investments in the healthcare sector to improve facilities and consumer satisfaction is augmenting the 5G SASE market

Some of the largest and developed economies, such as the U.S. and China, are anticipated to invest heavily in the healthcare sector to enhance existing facilities. The National Health Expenditure Account (NHEA), U.S., estimates the overall healthcare expenditure in the country to reach more than USD 5.8 trillion by 2030 showcasing a CAGR of nearly 7% from 2023 to 2030. Modern healthcare facilities focus on managing technology-driven treatments for patients, thereby driving the global market growth over the forecast timeline.

The increasing inclination of government authorities toward these developing technologies to enhance the existing infrastructure is boosting the market

The growing government policies and inclination toward these technologies are augmenting the market growth.  These technologies provide wide-range broadband access for public transportation systems, such as buses and high-speed trains, to provide high-speed internet in transit for entertainment, information, and interaction with smart mobility components. This, in turn, is anticipated to fuel market growth even further.

Market Restraints:

The high costs and subscription prices of the 5G technology may restrict the growth of the 5G SASE market

Thus, the high spectrum prices and the subsequent rise in 5G service subscription prices are anticipated to hinder market growth to some extent. As the market is in the introduction stage, several major service providers across the globe are investing hugely in deploying modern network infrastructure to tap the maximum subscriber base in the region.

5G SECURE ACCESS SERVICE EDGE MARKET REPORT COVERAGE:

Segmentation Analysis

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

•     Consumer
•   Enterprises
•   Real Estate
•   Construction
•   Agriculture
•   Oil & Gas
•   Mining
•   Retail
•   Government
•   BFSI
•   Aerosapce & Defense
•   Transportation & Logistics
•   IT & Telecom
•   Energy & Utility
•   Media & Entertainment
•   Healthcare & Social Work
•   Public Safety
•   Manufacturing

The enterprise segment is leading the market in 2023 and holds the largest revenue share of around 94%. The segment is estimated to continue its dominance over the forecasted years due to the remarkable investments by major players in the latest technologies for communication. The increasing demand for higher data speeds, especially for residential and commercial applications is predicted to drive the growth of the IT & telecom segment over the forecast period. 5G services are anticipated to deliver high-speed broadband access between homes and offices. The rising need for advanced broadband capacity for virtual business meetings is estimated to fuel the segment growth during the forecast timeline.

5G Secure Access Service Edge Market – By Region:

• North America

• Europe

• Asia-Pacific

• South America

• Middle-East and Africa

Asia Pacific is leading the market in 2023 with a share of around 40% and is anticipated to expand at the fastest CAGR during the outlook period. The major market players in the APAC region, such as China Telecom, China Mobile, SK Telecom, and KT Corp., are investing heavily in rolling out the 5G network infrastructure in China, Japan, and South Korea. Moreover, the increasing demand for smartphones supporting higher data speeds has further resulted in the robust production of 5G-enabled smartphones across the region.

North America is the second-largest regional market in 2023. Some of the most significant investments in the 5G network infrastructure are contributing to the U.S. The high investments in the country in building smart homes, establishing smart industries, and rolling out smart city projects are estimated to contribute to the growth of the regional market over the outlook period.

5G Secure Access Service Edge Market – By Companies.

1. Barracuda Networks, Inc.

2. Cato Networks

3. Check Point Software Technologies Ltd.

4. Cisco

5. Hewlett Packard Enterprise Development LP

6. McAfee, LLC

7. Open Systems

8. Palo Alto Networks

9. Versa Networks, Inc.

10. VMware, Inc.

The 5G Secure Access Service Edge Market is highly fragmented and extremely competitive with key players involved in R&D and constant technological innovation done by the vendors.

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

The COVID-19 pandemic and the subsequent lockdowns and travel restrictions on the movement of people imposed by several governments across the world have moved organizations to switch to a remote working model. However, the remote working model has also posed and presented challenges related to managing the productivity of flexible work culture and security governance. Businesses are also exposed to higher levels of cybersecurity breaches and risks than ever. As a result, organizations are looking forward to implementing and adopting robust security frameworks. The increasing need to establish effective and efficient security frameworks while ensuring sufficient access to information for employees using an integrated approach is expected to drive the adoption of these SASE frameworks in the future.