SIA Survey Respondents Bullish on Industry in Latest Security Market Index
After successful ISC West, SIA’s May/June Security Market Index found 77% of respondents have positive view of current industry conditions.
SILVER SPRING, Md. – More than three-quarters of respondents in the latest Security Industry Association (SIA) Security Market Index survey offered a positive take on current business conditions.
The May-June Security Market Index found that 77% of the survey pool – which comprises industry leaders who represent a cross section of SIA membership – describe conditions at their company as “excellent” or “good,” with 34% reporting the highest rating, according to an association announcement.
A similar number – 78% – said they expect conditions to improve during the next three months, with 22% saying they will get “much better” and 56% predicting conditions would get “a little better,” the announcement says.
Inside the Latest Security Market Index Survey Results
When asked about the 2023 ISC West trade show – which took place March 28-31 in Las Vegas, more than one out of four describing the show as “one of the best – if not the best – ever” and more than half calling it an “excellent show,” according to the announcement, while less than 2% of respondents had a negative view of the event. SIA is the premier sponsor of ISC West and ISC East.
In the latest SMI report, which is supported by Wesco, more than one-third of security professionals rated current business conditions as being “excellent,” 43% said they were “good” and 18% said they were “average.”
The SMI measures security industry executives’ current status and future expectations through a select survey of SIA members. The Index’s goal is to provide a macro-view of confidence levels in the security industry every two months while closely examining six specific business measures:
- Number of employees or hours worked
- Marketing spending
- Product production or service output
- Capital equipment spending
- R&D spending
- Product or service sales
Special focuses of SIA’s May/June 2023 SMI include:
- Predictions on a strong Q3 from the majority of respondents
- Market analysis on indicators and job growth amid an expanding economy
- Rave reviews and industry perspectives on ISC West 2023
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