SIA Security Market Index offers positive outlook on industry

SILVER SPRING, Md. – Outlooks on the security industry are positive following the results of the Security Industry Association’s (SIA) Security Market Index (SMI) survey.

The May-June index saw over three quarters of responses, 77% of those surveyed, describe conditions at their company as “excellent” or “good,” with 34% reporting the highest rating according to SIA. The survey pool is made up of industry leaders representing a cross section of SIA membership.

Continuing those positive trends, the survey also found a similar number of respondents, 78%, said they expect conditions to improve during the next three months, 22% saying they will get “much better”, and 56% predicting conditions would get “a little better.”

This years ISC West 2023 tradeshow also garnered praise in the survey with 25% of respondents referring to the show as “One of the best-if not best-ever” with many more referring to it as an excellent show. SIA said that less than 2% of respondents had a negative view of the show which took place March 28-31 in Las Vegas, Nevada.

The Security Market Index survey contains a host of other useful metrics as well including the number of employees or hours worked, marketing spending, product production or service output, capital equipment spending, R&D spending, and product or service sales. The focus of the May/June 2023 SMI also featured market analysis on indicators and job growth in an expanding economy, and predictions from survey respondents indicating a strong third quarter 2023.

SIA is the premier sponsor of ISC West and ISC East. You can find the full Security Market Index survey at www.securityindustry.org.