Four in Five Security Leaders Hold Positive View: New SIA Confidence Report

More than 80% of industry professionals surveyed say they anticipate growth during the upcoming quarter.

SILVER SPRING, Md. – The latest Security Industry Association (SIA) Security Market Index has found that four out of five security leaders surveyed have a positive view of the sector’s current condition. The SIA Security Market Index, sponsored by Wesco, is a bimonthly measure of industry confidence that surveys a select group of security professionals regarding their business’ current and expected state and activity.

Nearly half of respondents – 48%– described the current conditions of their companies as “good,” while another 32% characterized conditions as “excellent.” Looking forward, 83% of industry professionals surveyed anticipate growth during the upcoming quarter, with 64% saying conditions will get “a little better” during the next three months and 19% expecting them to get “much better.”

While sentiments about the industry are strongly positive, concerns about the overall economy may be dampening some enthusiasm. The SIA Security Market Index’s overall measure dipped a few points – from 61 two months ago to 56 now – with one respondent commenting that there is “lots of angst in the market which is causing some slowness in [the] sales pipeline.” The Index reading over 50, however, indicates that the industry is growing.

The most recent survey also asked respondents to identify the vertical markets that have the greatest potential for growth during the next few years, with multiple answers permitted. The top responses were:

  • Government – 47% of respondents;
  • Health care – 40% of respondents;
  • K-12 – 40% of respondents; and
  • Utilities – 39% of respondents.

Ports/maritime was the least chosen option for growth potential, at 13%, along with banking/financial and stadiums/ballparks/arenas, each of which were cited by just 19% of respondents. Verticals cited in the “other” category included: biotech facilities, critical infrastructure, data centers, ecommerce, multi-family housing and regulated industries.

The full SIA Security Market Index report can be accessed here.

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