Security Industry Forecasting Strong 2024 According to Latest SIA Security Market Index

  • Jan 03, 2024

The security industry is forecasting a strong 2024, according to the results from the latest Security Industry Association (SIA) Security Market Index.

The SIA Security Market Index is a bimonthly measure of confidence that is based on a survey of industry leaders.

The November-December edition of the Index asked how respondents are expecting their businesses to perform next year. Nearly half — 46% — said they are projecting growth of at least 7.5%, and more than three out of five — 61% — anticipate growth of 5% or more.

When asked about current conditions at their company, 85% of respondents described them positively, with 29% saying they are “excellent” and 56% saying they are “good.”

While the security sector is healthy, some survey participants did note concerns about the overall economy and the potential impact of geopolitical crises and budget clashes in Washington, D.C.

The survey was conducted in early November, a few days before ISC East. The expo and conference in New York provided additional signs of robustness in the industry, with attendance increasing 25% over the 2022 level.

“Data from the Security Market Index and from ISC East show that the security industry is ending 2023 the same way it started it – with strong upward momentum,” SIA Board of Directors Chair James Rothstein said. “We are excited to work with our members to continue to advance the industry in the coming year.”

The SIA Security Market Index is supported by Wesco.

Featured

  • Report: 47 Percent of Security Service Providers Are Not Yet Using AI or Automation Tools

    Trackforce, a provider of security workforce management platforms, today announced the launch of its 2025 Physical Security Operations Benchmark Report, an industry-first study that benchmarks both private security service providers and corporate security teams side by side. Based on a survey of over 300 security professionals across the globe, the report provides a comprehensive look at the state of physical security operations. Read Now

    • Guard Services

  • Identity Governance at the Crossroads of Complexity and Scale

    Modern enterprises are grappling with an increasing number of identities, both human and machine, across an ever-growing number of systems. They must also deal with increased operational demands, including faster onboarding, more scalable models, and tighter security enforcement. Navigating these ever-growing challenges with speed and accuracy requires a new approach to identity governance that is built for the future enterprise. Read Now

  • Eagle Eye Networks Launches AI Camera Gun Detection

    Eagle Eye Networks, a provider of cloud video surveillance, recently introduced Eagle Eye Gun Detection, a new layer of protection for schools and businesses that works with existing security cameras and infrastructure. Eagle Eye Networks is the first to build gun detection into its platform. Read Now

  • Report: AI is Supercharging Old-School Cybercriminal Tactics

    AI isn’t just transforming how we work. It’s reshaping how cybercriminals attack, with threat actors exploiting AI to mass produce malicious code loaders, steal browser credentials and accelerate cloud attacks, according to a new report from Elastic. Read Now

  • Pragmatism, Productivity, and the Push for Accountability in 2025-2026

    Every year, the security industry debates whether artificial intelligence is a disruption, an enabler, or a distraction. By 2025, that conversation matured, where AI became a working dimension in physical identity and access management (PIAM) programs. Observations from 2025 highlight this turning point in AI’s role in access control and define how security leaders are being distinguished based on how they apply it. Read Now

Most   Popular

New Products

  • Connect ONE’s powerful cloud-hosted management platform provides the means to tailor lockdowns and emergency mass notifications throughout a facility – while simultaneously alerting occupants to hazards or next steps, like evacuation.

    Connect ONE®

    Connect ONE’s powerful cloud-hosted management platform provides the means to tailor lockdowns and emergency mass notifications throughout a facility – while simultaneously alerting occupants to hazards or next steps, like evacuation.

  • Compact IP Video Intercom

    Viking’s X-205 Series of intercoms provide HD IP video and two-way voice communication - all wrapped up in an attractive compact chassis.

  • ResponderLink

    ResponderLink

    Shooter Detection Systems (SDS), an Alarm.com company and a global leader in gunshot detection solutions, has introduced ResponderLink, a groundbreaking new 911 notification service for gunshot events. ResponderLink completes the circle from detection to 911 notification to first responder awareness, giving law enforcement enhanced situational intelligence they urgently need to save lives. Integrating SDS’s proven gunshot detection system with Noonlight’s SendPolice platform, ResponderLink is the first solution to automatically deliver real-time gunshot detection data to 911 call centers and first responders. When shots are detected, the 911 dispatching center, also known as the Public Safety Answering Point or PSAP, is contacted based on the gunfire location, enabling faster initiation of life-saving emergency protocols.