Security Technology Industry’s Market Confidence Research Report Shows Industry Outlook Remaining Steady
Provided to Security Industry Association (SIA) members as a review of current market conditions, the September/October 2022 Security Market Index (SMI) research shows industry confidence remaining steady at 52, compared to 53 in July/August and 61 in May/June. 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 September/October research survey, 84% of industry respondents rated current business conditions as “good” or “excellent,” 60% of security professionals reported increases in the number of employees or hours worked and 75% said they believe business conditions will be “much” or “a little” better within the next three months.
Special focuses of SIA’s September/October 2022 SMI include:
- Decreased market confidence for the video surveillance sector
- Growth in industry outlook for the systems integrator sector
- Perspectives on the Federal Reserve’s raising of interest rates