Security Market Index: July/August 2024 Edition
Overwhelming Majority of Security Industry Sees Positive Conditions
Most security leaders have a positive view of the state of the industry according to the latest Security Industry Association (SIA) Security Market Index (SMI) report, with integrators being particularly bullish.
SIA thanks Wesco for supporting the Security Market Index.
When asked how they would rate current business conditions for their companies, 74% of survey participants said either “excellent” or “good.”
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 July/August 2024 SMI include:
- Industry leaders’ expectations for short-term growth in the next three months
- Renewed fears of a recession in light of an unexpectedly weak jobs report in July
- Security companies exceeding their 2024 projections
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