Security Market Index: May/June 2023 Edition

By Kara Klein, Associate Director of Marketing and Media Relations, Security Industry Association on June 9, 2023 | |
Security Market Index report cover: May/June 2023

Nearly 80% of SIA Survey Respondents Cite Positive Conditions, Strong ISC West

Coming off the most successful ISC West in several years, more than three out of four respondents in the May/June 2023 Security Industry Association (SIA) Security Market Index (SMI) survey reported a positive view of current business conditions in the security industry.

Wesco-MLR23

SIA thanks Wesco for supporting the Security Market Index.

In the latest SMI report, more than one-third of security professionals rated current business conditions as being “excellent,” 43% said they were “good” and 18% 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 May/June 2023 SMI include:

  • Predictions on a strong Q3 from the majority of respondents
  • Market analysis on indicators and job growth amid an expanding economy
  • Rave reviews and industry perspectives on ISC West 2023
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