A survey by Opengear, a Digi International company, of both CIOs and network engineers around the world has found that 91 percent of organizations experience network downtime at least once a quarter.
The survey also shows that network downtime has a significant financial impact for businesses. Figures show that in the US for each minute of disruption, 24 percent of organizations lose between $2,501 and $5,000. As an average, this figure equates to $4,344 for every minute of downtime incurred. In the UK the figure is £2,213 for every minute of downtime incurred.
92 percent of US CIOs have therefore increased their budget over the last 12 months to improve their network resilience, with almost half (44 percent) dedicating over 50 percent of their IT budget to infrastructure spend in order to secure their operations. In the UK, 91 percent of CIOs report increasing their budget over the last 12 months to improve network resilience, with 65 percent dedicating over a quarter of their IT budget to infrastructure spend.
“Our research findings lay bare the challenges that organizations globally are facing with network outages in 2023,” said Gary Marks, President at Opengear. “It’s perhaps unsurprising that CIOs are allocating more investment to network resiliency to ensure that downtime doesn’t occur. The key is where this investment is being targeted. From critical first day deployments and everyday maintenance, to worst day scenarios such as network outages, organizations need always-on access to their critical resources to ensure business continuity. Smart Out of Band technologies can enable remediation of network issues from any location, helping to reinforce business resilience in a difficult economic climate.”