Provided to Security Industry Association (SIA) members as a review of current market conditions, the June/July 2021 Security Market Index (SMI) shows that the security industry’s outlook is on the rise this summer, with a SMI of 67, up from 54 in April/May. 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 June/July SMI survey, 84 percent of industry survey respondents rated current business conditions as “good” or “excellent,” 60 percent of security professionals reported increases in marketing spending and 93 percent believe business conditions will be “much” or “a little” better within the next three months.
“Business activity generally is up,” said one respondent in the consulting sector who rates current conditions as excellent. “All of my clients are experiencing good business activity right now and many are expanding capacity or into new markets.”
Within the next three months, 93 percent of security professionals believe business conditions will be either “much better” or “a little better.” Four percent expect no change in business conditions, and 2 percent expect them to be worse. In April, 85 percent of respondents expected improved conditions in the next three months, 11 percent expected conditions to remain the same, and 3 percent expected conditions to be worse.
“We are hiring and we are reopening our offices and getting people back moving in the field,” said one respondent in the video surveillance sector who reported an increase in the number of employees or hours worked.
Special focuses of SIA’s June/July 2021 SMI include:
- Continued growth in video surveillance market confidence.
- The highest integration SMI since before the COVID-19 pandemic.
- Perspectives on the pandemic’s impact on business over the past 15 months.
Download the June/July SMI on SIA’s website.