SECURITY TECHNOLOGY INDUSTRY’S MARKET CONFIDENCE RESEARCH REPORT shows industry outlook heating up despite world unrest and economic uncertainty
Provided to Security Industry Association (SIA) members as a review of current market conditions, the January/February 2022 Security Market Index (SMI) research shows growing momentum in market confidence, with a SMI of 72, up from 47 in November/December 2021. An index above 50 indicates that conditions within the industry are largely positive and that security industry professionals are predominantly confident in their business outlooks.
In the January/February research survey, 79% of industry respondents rated current business conditions as “good” or “excellent,” 67% of security professionals reported increases in marketing spending and 90% said they believe business conditions will be “much” or “a little” better within the next three months.
Special focuses of SIA’s January/February 2022 SMI include:
- Marked increases in market confidence for the video surveillance and integration sectors
- Respondents’ predictions on how their spending will change compared to previous months
- Perspectives on how artificial intelligence will revolutionize physical security