Security News > 2024 > June > Downtime Costs World’s Largest Companies $400 Billion a Year, According to Splunk Report

Unplanned downtime is costing the world's largest companies $400 billion a year, or roughly 9% of their profits, a new report has found.

The Hidden Costs of Downtime report surveyed 2,000 executives, including CFOs, CMOs, engineers, and IT and security professionals, from Global 2000 companies in 53 countries and a range of industries.

Downtime incidents experienced by large companies can be placed in one of two categories: security incidents or application or infrastructure issues.

The average Global 2000 firm sees 466 hours of cybersecurity-related downtime and 456 hours of application or infrastructure-related downtime, according to the report.

The report revealed that more than half of executives are aware of root causes of downtime in their organisations but choose not to fix them.

Lost revenue is by far the biggest cost as a result of a downtime event, at an average of $49 million a year for each Global 2000 company.

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https://www.techrepublic.com/article/hidden-cost-of-downtime-large-companies-splunk-report/