Security Market Index: November/December 2023 Edition

Security Industry Confidence Remains High

Confidence in the security industry is high as the year comes to the close, with SIA’s November/December 2023 Security Market Index finding that over 85% of respondents having a positive view of the industry’s current condition.


SIA thanks Wesco for supporting the Security Market Index.

In the latest SMI report, respondents expressed bullish opinions regarding business conditions, despite some possible headwinds, with 29% describing current conditions a “excellent,” 56% describing them as “good,” 11% characterizing them as “average” and 4% as fair (no respondents said conditions are “poor”).

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 November/December 2023 SMI include:

  • Perspectives on positive economic indicators, despite persistent fears of a recession, and overall industry concerns regarding the economy
  • Insights on respondents’ predictions for growth in 2024
  • The benefits of participating in the Security Industry Compensation Study presented by the Foundation for Advancing Security Talent, SIA, the Electronic Security Association, PSA Security Network and Security Sales & Integration