As the Security Industry Association (SIA) continues its 50th-anniversary celebration, let’s take a look at how the security industry has changed over 50 years overall.
When SIA was founded in 1969 (as the Security Equipment Dealers Association (SEDA) and the Security Equipment Manufacturers Association (SEMA)), commercial and industrial security products were a $320-million industry, according to Frost & Sullivan. By 1975, SEDA and SEMA had merged and become the Security Equipment Industry Association (SEIA), and the industry had grown to $1.3 billion!
In the 1980s, SEIA became SIA, and in 1988, the electronic security equipment industry had grown to $7.3 billion. By 2008, the U.S. security market commercial sectors had risen to $9.6 billion, according to SIA. And in 2016, the global physical security market size was valued at $133.94 billion, according to Grand View Research.
SIA and the industry wouldn’t be where we are without our nearly 1,000 innovative member companies. Thank you for all you do, and we look forward to partnering with you to continue growing the industry over the next 50 years!