Confidence in Security Industry Remains High, SIA Reports

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Quarterly Research Update captures findings and data from throughout industry

The Update also reported that 78 percent of survey respondents rate market conditions as good to excellent, compared to 70 percent who said that in the third quarter.

Business confidence among members of the security industry remained high going into 2011, according to a report in the Security Industry Association’s (SIA) Quarterly Research Update.

The SIA Business Confidence Index, which is based on a survey of 100 CEOs, presidents and other top executives at manufacturing companies that are members of SIA, registered a 74.9 (out of 100) in the fourth quarter of 2010, slightly higher than the third quarter’s 74 and much better than the 59 of a year earlier. As recently as the fourth quarter of 2008, the index was in the low 40s. The Update also reported that 78 percent of survey respondents rate market conditions as good to excellent, compared to 70 percent who said that in the third quarter.

Among the other findings reported in the 25-page Update:

  •     The global access control market surpassed $1.8 billion in 2010.
  •     Retail theft worldwide declined 5.6 percent to $107.3 billion in 2010, as retailers increased spending on loss prevention and security by 9.7 percent to $26.8 billion.
  •     The proportion of IT security breaches that were attributed to insiders more than doubled in 2010 to 46 percent, and the insider threat is expected to continue to increase in 2011.
  •     Service and maintenance contracts are projected to account for one-third of the security systems integration market in the Americas by 2014.

The Quarterly Research Update is available at no charge to SIA members in the SIA Store. Non-members can buy it for $75.

The Security Industry Association (http://www.siaonline.org) is the leading trade group for businesses in the electronic and physical security market. SIA protects and advances its members' interests by advocating pro-industry policies and legislation on Capitol Hill and throughout the 50 states; producing cutting-edge global market research; creating open industry standards that enable integration; advancing industry professionalism through education and training; opening global market opportunities; and providing sole sponsorship of the ISC Expos, the world's largest security trade shows and conferences.

Contact:
Ron Hawkins
Security Industry Association
(703) 647-8485
rhawkins(at)siaonline(dot)org

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