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| An SIA report based on a wide survey has confirmed a large rise in security industry market in the years to come |
Business confidence among members of the security industry remained high going into 2011, according to a report in the Security Industry Association's (SIA) Quarterly Research Update.
The SIA Business Confidence Index, which is based on a survey of 100 CEOs, presidents and other top executives at manufacturing companies that are members of SIA, registered a 74.9 (out of 100) in the fourth quarter of 2010, slightly higher than the third quarter's 74 and much better than the 59 of a year earlier.
As recently as the fourth quarter of 2008, the index was in the low 40s. The Update also reported that 78 percent of survey respondents rate market conditions as good to excellent, compared to 70 percent who said that in the third quarter.
Among the other findings reported in the 25-page Update:
- The global access control market surpassed $1.8 billion in 2010
- Retail theft worldwide declined 5.6 percent to $107.3 billion in 2010, as retailers increased spending on loss prevention and security by 9.7 percent to $26.8 billion
- The proportion of IT security breaches that were attributed to insiders more than doubled in 2010 to 46 percent, and the insider threat is expected to continue to increase in 2011
- Service and maintenance contracts are projected to account for one-third of the security systems integration market in the Americas by 2014
