SDM’s annual Industry Forecast Study measures the health and viability of the electronic security industry. Factors include revenue increases and decreases, expected growth for the coming year, pricing trends, and challenges that installing companies face.
Everyone hoped things would be “back to normal” by now. While security companies in 2021 continued to feel the impacts of the coronavirus, the 2022 SDM Industry Forecast shows both slow but steady improvement and optimism.
While 2020 didn’t live up to expectations and 2021 Industry Forecast respondents reported a topsy-turvy year, the majority remain hopeful for a strong 2021, with the COVID-19 vaccine in sight and pent-up demand for security products and services.
To say 2020 was a bit of a roller coaster ride is perhaps an understatement. At this time last year, most security integrators anticipated a strong 2020, only to be thrown into turmoil late in the first quarter by the emergence of the COVID-19 pandemic.
Results of SDM’s 2019 Industry Forecast Study show that security integrators grew their total annual revenue by an average of 15 percent last year; they expect that momentum to bring them face-to-face with prosperous opportunities in 2019, as long as the economy stays strong.
Security integrators expect their stellar 2018 performance to continue into 2019, according to results of SDM’s 2019 Industry Forecast Study, a report published annually by SDM since 1982. Last year saw double-digit growth in both total annual revenue and recurring monthly revenue (RMR) for integrators and dealers who participated in the study.
Last year was good, but 2018 could be great, say security integrators and security dealers who participated in the 2018 SDM Industry Forecast Study and Panel, a report that SDM has published annually since 1982. The economy is roaring.
Results of SDM’s Industry Forecast Study, coupled with an outlook from leading dealers and integrators, offers positive assurance for the security industry’s 2015 performance: 13.9 percent growth. It will be driven by a higher level of services being offered to consumers and businesses.
Winning a security project today is a bit like playing a game of chess. With every potential job, you face a wide variety of opponents (competitors) who have an even wider variety of moves (security offerings/competitive advantages), all aimed at putting your king into checkmate; in effect, freezing you out of the job.