Security Industry Association Unveils First-Ever U.S. Economic Impact Study

  • Dec 16, 2024

The Security Industry Association (SIA) has unveiled the first-ever national economic impact study on the security industry, highlighting the positive impact the security industry has on jobs, wages and federal and state revenue in the United States. The study, conducted by Florida-based John Dunham & Associates, uses the most current methodology and data available from 2024.

The study found that the security industry – as a dynamic and rapidly growing sector of the national economy – has a total economic impact of $431.3 billion, supporting 2.1 million jobs and $145.5 billion in wages, including supplier and induced economic activity.

“SIA’s new Security Industry Economic Impact Report describes the significant economic impact of the security industry in the United States as a key source of employment and leading contributor to our economy,” said SIA CEO Don Erickson. “The report provides very compelling data points that should be considered by government officials as they contemplate the impact of potential regulation and legislation upon security businesses. We expect that the report’s findings will also be leveraged by employers to better compete against other industries for qualified talent.”

The security industry’s direct economic impact is $130.4 billion, providing 723,000 jobs and $46.7 billion in wages annually, which generates over $60 billion in federal, state and local tax revenue. Direct impact is measured across four overarching categories of activity: manufacturing, business to business activity, services and security personnel.

“John Dunham & Associates is proud to have collaborated with SIA on the Security Industry Economic Impact Report, which provides detailed information about the economic contributions generated by the U.S. security industry,” said John Dunham, president of John Dunham & Associates. “You can use this helpful interactive tool to see how the industry creates jobs in your state or congressional district and explore your local economic impact.”

Learn more about the security industry’s economic impact, including sorting the data nationally or by state or congressional district, and view study methodology on the report webpage.

Featured

  • Survey: 48 Percent of Worshippers Feel Less Safe Attending In-Person Services

    Almost half (48%) of those who attend religious services say they feel less safe attending in-person due to rising acts of violence at places of worship. In fact, 39% report these safety concerns have led them to change how often they attend in-person services, according to new research from Verkada conducted online by The Harris Poll among 1,123 U.S. adults who attend a religious service or event at least once a month. Read Now

  • AI Used as Part of Sophisticated Espionage Campaign

    A cybersecurity inflection point has been reached in which AI models has become genuinely useful in cybersecurity operation. But to no surprise, they can used for both good works and ill will. Systemic evaluations show cyber capabilities double in six months, and they have been tracking real-world cyberattacks showing how malicious actors were using AI capabilities. These capabilities were predicted and are expected to evolve, but what stood out for researchers was how quickly they have done so, at scale. Read Now

  • Why the Future of Video Security Is Happening Outside the Cloud

    For years, the cloud has captivated the physical security industry. And for good reasons. Remote access, elastic scalability and simplified maintenance reshaped how we think about deploying and managing systems. Read Now

  • UL Solutions Launches Artificial Intelligence Safety Certification Services

    UL Solutions Inc., a global leader in safety science, today announced the launch of artificial intelligence (AI) safety certification services, enabling comprehensive assessments for evaluating the safety of AI-powered products. Read Now

  • ESA Announces Initiative to Introduce the SECURE Act in State Legislatures

    The Electronic Security Association (ESA), the national voice for the electronic security and life safety industry, has announced plans to introduce the SECURE Act in state legislatures across the country beginning in 2025. The proposal, known as Safeguarding Election Candidates Using Reasonable Expenditures, provides a clear framework that allows candidates and elected officials to use campaign funds for professional security services. Read Now

    • Guard Services
Most   Popular

New Products

  • A8V MIND

    A8V MIND

    Hexagon’s Geosystems presents a portable version of its Accur8vision detection system. A rugged all-in-one solution, the A8V MIND (Mobile Intrusion Detection) is designed to provide flexible protection of critical outdoor infrastructure and objects. Hexagon’s Accur8vision is a volumetric detection system that employs LiDAR technology to safeguard entire areas. Whenever it detects movement in a specified zone, it automatically differentiates a threat from a nonthreat, and immediately notifies security staff if necessary. Person detection is carried out within a radius of 80 meters from this device. Connected remotely via a portable computer device, it enables remote surveillance and does not depend on security staff patrolling the area.

  • 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.

  • QCS7230 System-on-Chip (SoC)

    QCS7230 System-on-Chip (SoC)

    The latest Qualcomm® Vision Intelligence Platform offers next-generation smart camera IoT solutions to improve safety and security across enterprises, cities and spaces. The Vision Intelligence Platform was expanded in March 2022 with the introduction of the QCS7230 System-on-Chip (SoC), which delivers superior artificial intelligence (AI) inferencing at the edge.