4G and 5G IoT security services market to reach $ 8 billion by 2026

4G and 5G IoT security services market to reach $ 8 billion by 2026

Consulting company ABI Research predicts that by 2026, the number of Internet of Things (IoT) device connections to cellular networks will exceed 3 billion, with the bulk of the volume coming from 4G LTE and LPWA networks. The result is a huge market for IoT security services. The ability to enable secure IoT connectivity across these networks will be key to the successful deployment of connected devices globally and the eventual transition to 5G New Radio (NR). Thus, the security industry is on the cusp of a significant development stage associated with the need for solutions to provide secure cellular connectivity to all IoT stakeholders.

With the emergence of new cellular standards such as NB-IoT, LTE-M, and 5G MMTC, there is an opportunity to create new platform solutions focused on network security and able to increase confidence in IoT deployments.

Market needs for secure cellular IoT solutions come from areas such as automotive, asset management, smart cities, utilities and energy, as well as payments and healthcare applications, analysts said. Diversification of demand leads to an expansion of the range of suppliers. Providers of network equipment and turnkey solutions join specialized companies to offer secure IoT solutions to mobile network operators and enterprises. ABI Research included 1NCE, Allot, Ericsson, FirstPoint, Fortinet, G + D, IoTerop, Kudelski, Mobileum, Netscout, Nokia, Thales, Transatel, and ZTE in the list of those who were the first to offer such solutions.

4G and 5G IoT security services market to reach $ 8 billion by 2026

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