The initial index registered 62 on a 100-point scale, a grade that indicates a fair amount of confidence in the industry’s business prospects.
Silver Spring, Md. (PRWEB) July 23, 2014
The Security Industry Association (SIA) has launched the SIA Security Market Index, a bimonthly measure of business confidence in the security industry.
The SIA Security Market Index surveys a select group of nearly 100 executives at SIA member companies to gauge the state of the industry. Individual responses are kept anonymous, and only aggregate results are released.
The initial index registered 62 on a 100-point scale, a grade that indicates a fair amount of confidence in the industry’s business prospects. (A measure of “50” would indicate that positive and negative responses are evenly divided.)
Separate from the overall index, two-thirds of survey respondents report that business conditions for their companies are good or excellent (36 percent “good,” 30 percent “excellent”), including 71 percent of integrators, 69 percent in cybersecurity, 68 percent in video surveillance, 66 percent in access control, 65 percent in identity management and 63 percent in fire and life safety.
Looking ahead three months:
- 42 percent expect conditions for their companies to get a little better.
- 31 percent expect conditions to get much better.
- Only 5 percent expect conditions for their companies to worsen.
Over the next year, 45 percent expect to increase capital spending, while 46 percent expect such spending to remain the same.
“It’s now really a worldwide market driven by such factors as IT, vertical markets, consolidations within the industry and diverse risk strategies of my client businesses, as much as or more than simply crime prevention,” one survey respondent said.
Among the other findings:
- More than half of respondents expect to see increases in new orders, product sales and new product introductions.
- Respondents in the cybersecurity sector were the most likely to predict that cyberthreats will lead to “fast” convergence. (Others were split between “slow” and “fast.”)
- 66 percent of the respondents in the residential sector, 65 percent of both consultants and officer services, and 63 percent of distributors rate business conditions for their companies as good or excellent.
The SIA Security Market Index is an enhancement of the SIA Security Industry Business Confidence Index, which surveyed executives at SIA member companies on a quarterly basis from 2004 through early 2014.
About the Security Industry Association
The Security Industry Association (SIA) (http://www.securityindustry.org) is the leading trade association for electronic and physical security solution providers, with more than 500 innovative member companies representing more than 300,000 security leaders and experts who shape the future of the security industry. SIA protects and advances its members' interests by advocating pro-industry policies and legislation at the federal and state levels; creating open industry standards that enable integration; advancing industry professionalism through education and training; opening global market opportunities; and collaboration with other like-minded organizations. As a proud sponsor of ISC Events expos and conferences, and owner of the Securing New Ground® conference, SIA ensures its members have access to top-level buyers and influencers, as well as unparalleled learning and network opportunities.