09172019Headline:

Studies Show Confidence in the Security Industry

Source: Security Info Watch

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Just last month the Security Industry Association announced that the SIA Security Market Index increased from 72.3 to 74.6. This current increase of 2.3 was from September to November, and this is off of an index that began at 62 back in July. SIA states this increase in confidence is due to new products and good sales of security products over the past two months.

The SIA Security Market Index is a standard of business assurance in the industry taken every two months. The survey takes a specific group of 100 executives from SIA member companies and asks them to rate the industry. The SIA manager of special projects and partnerships, Ron Hawkins has great hope for the security industry, “the survey’s findings are consistent with the performance of the U.S. economy overall, with strong growth in the past two quarters providing hope that we are, perhaps, about to finally escape the post-Great Recession doldrums.”

Executives were asked how their companies may do over the next three months:

  • 38% said they plan on doing even better
  • 42% said a small increase
  • 15% said no change
  • 4% said a small decrease
  • 1% said a large decrease

Furthermore the November 2014 SIA Security Index also questioned the executives about the Internet of Things (IoT) and its impact on the security industry. IoT discussion could increase the influence of security devices, but the respondents listed a few challenges they’ve had:

  • 75% are worried about security and privacy of users
  • 60% see a lack of decided standards
  • 60% see a lack of feature exchange of new products
  • 50% worried about battery life of devices
  • 45% see a lack of IoT infrastructure
  • 10% worried about no accepted next-gen IPv6
  • 10% see a lack of commitment for manufacturers and little competition

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