About a third of events impacted US cloud regions, with a total of 1,190 performance disruptions overall
The world’s leading providers of cloud services, who together control more than two-thirds of the global cloud market, suffered 1,190 performance disruptions across their cloud landscape in 2022, of which 492 were classified as critical, according to a report by Parametrix, a cloud downtime insurer.
About a third of events impacted US cloud regions. The balance of the critical events measured were split roughly evenly between Europe, Asia, and the rest of the world.
“Downtime is an inevitable reality for almost every business,” said Yonatan Hatzor, co-founder and CEO of Parametrix. “As companies increasingly rely on cloud providers for day-to-day operations, they are exposed to the real risk of downtime.”
A survey of business decisionmakers found that 82% believe their organisation or product is dependent on their availability of the cloud:
• 60% said they are “very concerned” about cloud downtime
• 41% are more concerned than last year
• 31% said eight hours of cloud downtime during business hours would be catastrophic
• 36% said eight hours of cloud downtime would be a non-recoverable, uninsured loss
• 23% estimated downtime costs their organization $500,000 or more per hour
Parametrix uses technology to monitor the availability and performance of the top cloud service providers worldwide.