Security Market Index: May/June 2022 Edition

SIA Security Market Index: May/June 2022

SECURITY TECHNOLOGY INDUSTRY’S MARKET CONFIDENCE RESEARCH REPORT shows industry outlook Feeling the Effects of the COVID-19 Pandemic

Provided to Security Industry Association (SIA) members as a review of current market conditions, the May/June 2022 Security Market Index (SMI) research shows a decline in market confidence in the face of supply chain woes exacerbated by the COVID-19 pandemic and geopolitical factors, with a SMI of 61, down from 72 in March/April 2022. 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. In the May/June research survey, 80% of industry respondents rated current business conditions as “good” or “excellent,” 52% of security professionals reported increases in marketing spending and 73% said they believe business conditions will be “much” or “a little” better within the next three months. Special focuses of SIA’s May/June 2022 SMI include:

  • A slight decrease in market confidence for the security systems integrator sector
  • Respondents’ predictions on how their spending will change compared to previous months
  • Perspectives on inflation’s new 40-year high and how inflation is impacting security businesses