SIA Reports Business Confidence Dips While Sales Hold Steady
Business confidence among members of the security industry dipped slightly in the second quarter of 2011, according to a report in the Security Industry Association’s (SIA) Quarterly Research Update. This is not surprising given headlines in the business press that the economy is stumbling a bit. Still, security industry executives continue to see the silver lining. About three in four surveyed feel things will be a little better or much better in the next three months while 80 percent say things will get better or remain the same over the next 12 months.
The intrusion sector is also beginning to improve after a sharp decline in 2009 and a tough 2010. A new forecast predicts the industry sector will reach over $2.4 billion this year and that global intrusion products are poised to recover steadily as the industry capitalizes on new growth opportunities.
Among the other findings reported in the 18-page Update:
- U.S. consumer spending is $61 per day – far less than the $106 average of February 2008 but up slightly from $58 per day the previous month.
- Shipments of electronic products with embedded wireless local area networking technology (WLAN) will surpass one billion units for the first time ever this year and then rise to more than two billion in 2015.
- Smart phones will grow strongly and include security and home automation applications, outstripping home area network applications.
- There is a growing comfort between law enforcement and security, according to the 2011 Law Enforcement Security Industry Study.
The Quarterly Research Update is available at no charge to SIA members in the SIA Store. Non-members can buy it for $75.