Security Market Index: January/February 2023 Edition

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.

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