Security Market Index

By Kara Klein, Associate Director of Marketing and Media Relations, Security Industry Association on December 9, 2025 | |
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About the Security Market Index

Security Market Index (SMI) is a bimonthly publication created by the Security Industry Association (SIA) for SIA members that provides the latest market confidence numbers for the security industry.

SIA’s SMI report 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
  • Research and development spending
  • Product or service sales

Read the Latest REPORT

November/December 2025 Edition: Four out of Five Survey Respondents Cite Positive Business Conditions

While the federal government is one of the security industry’s most significant customers, it also seems to be one of its biggest sources of stress, according to the November–December 2025 Security Industry Association (SIA) Security Market Index (SMI) survey.

The latest SMI survey found that sentiment remains high in the industry, with 80% of respondents describing current conditions as either “excellent” (29%) or “good” (51%). Notwithstanding the positive assessment overall, survey respondents, as they have for much of the year, expressed concerns with tariffs and congressional gridlock.

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 2025 SMI include:

  • Security leaders’ perspectives on tariffs and their business impact
  • Expected conditions for companies in the next three months
  • The economic landscape amid lowered interest rates
  • The impact of the fall 2025 government shutdown on security businesses

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Past Editions

​Past editions of SIA’s SMI report are available here:

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