SECURITY TECHNOLOGY INDUSTRY’S MARKET CONFIDENCE RESEARCH REPORT FINDS Increased Uncertainty amid “COVID Hangover”
Provided to Security Industry Association (SIA) members as a review of current market conditions, the November/December 2021 Security Market Index (SMI) research shows weakening momentum in market confidence, with a SMI of 47 – similar to February’s 44 SMI and down from 64 in August. 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 November/December research survey, 67% of industry respondents rated current business conditions as “good” or “excellent,” 43% of security professionals reported increases in marketing spending and 62% said they believe business conditions will be “much” or “a little” better within the next three months.
Special focuses of SIA’s November/December 2021 SMI include:
- Steady market confidence for the systems integration sector
- Perspectives on how pandemic-related supply chain disruptions and labor shortages are impacting the security industry
- How organizations are handling COVID-19 vaccination