Security Market Index: March/April 2024 Edition

SIA Security Market Index March/April 2024 report cover


Nearly 3 in 4 Say Business Conditions Are On Uptick

Nearly three in four respondents to the March-April 2024 Security Industry Association (SIA) Security Market Index (SMI) rated current business conditions as positive, with almost a third describing them as “excellent.”


SIA thanks Wesco for supporting the Security Market Index.

“Confidence remains solid in the security industry, even amid inevitable fluctuations from month to month, said SIA Board of Directors Chair James Rothstein. “We’re all eager for ISC West to ignite enthusiasm in the sector. The security industry year will really start in Las Vegas in April.”

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 March/April 2024 SMI include:

  • Positive forecasts for the next three months
  • Economic outlooks as the Federal Reserve ponders interest rate cuts
  • Perspectives on what ISC West means to security industry businesses ahead of the 2024 expo and conference