Security Market Index: January/February 2023 Edition

By Geoff Kohl, Senior Director of Marketing, Security Industry Association on February 21, 2023 |
SIA Security Market Index market confidence research report statistics - January February 2023

Industry confidence on the rise in January/February 2023

Provided to Security Industry Association (SIA) members as a review of current market conditions, the January/February 2023 Security Market Index (SMI) research shows continued industry confidence increasing to a score of 61, up from 59 in November/December 2022, and rising from 52 in September/October and 53 in July/August. 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.

Wesco-MLR23

SIA thanks Wesco for supporting the Security Market Index.

This month, 26% of security professionals rated current business conditions as being “excellent,” 50% said they were “good,” and 19% 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 January/February 2023 SMI include:

  • Market confidence decrease for the video surveillance sector
  • Strong positive outlook for the systems integrator sector
  • Forecasts for generational level change in the security industry
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