Security Market Index: January/February 2024 Edition


Optimism Reigns, Despite Concerns About Global Events

The security industry appears strong starting off strong, with 84% of respondents in the January-February Security Market Index (SMI) describing conditions at their companies in positive terms.


SIA thanks Wesco for supporting the Security Market Index.

In the latest SMI report, nearly one in four participants said conditions were “excellent,” while more than three in five said they are good. These numbers are largely unchanged from the November-December 2023 survey.

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 2024 SMI include:

  • Insights on the economy growing as the Federal Reserve ponders rate cuts
  • Perspectives and opinions on the impact of interest rates on companies’ sales and operations
  • Top findings from Complexities in the Global Security Market: 2024 Through 2026, a new definitive market report on the global security industry from SIA and ASIS International