Recent data from the Cradlepoint 2024 State of Connectivity survey, conducted by the global leader in cloud-delivered LTE and 5G wireless network and security solutions under Ericsson, reveals startling insights about connectivity issues and security threats in Australian businesses. Around 57% of Australian firms reported experiencing 1-2 hours of downtime weekly due to fixed line/fibre network failure over the past year. Additionally, more than a quarter of surveyed businesses suffered 3-4 hours of weekly downtime.
Connectivity failure in businesses, as found by the survey, carries a high cost. It results in operational inefficiencies and heightened operational costs, with over 40% of organisations stating these as the primary areas of impact of network downtime. Subsequently, there is an urgent need to remedy the identified connectivity problems and protect businesses from loss of productivity and increased costs.
More alarming than the productivity losses are the network security threats Australian businesses face. The survey disclosed over 40% of Australian businesses had been the target of a network security breach in the past year. Of these, a significant majority of over one quarter had suffered a major security breach leading to data loss. Furthermore, over 20% of the security breaches had severe financial repercussions, with companies incurring substantial fines.
Nathan McGregor, Senior Vice President APAC, Cradlepoint, has stated, "The findings from this survey highlight that network security should be on every organisation's agenda in Australia. With so much of business operations dependent on reliable connectivity, organisations should also be analysing longer-term return on investment and looking into network security solutions such as SASE when it comes to cellular and 5G connectivity."
In addition to connectivity and network security, the survey also brought to light potential barriers to the adoption of 5G solutions by Australian businesses. Over 30% of organisational hesitance towards 5G is due to the perceived shortage of necessary skills and the costs of implementation associated with it. Other deterring factors include concerns over securing connectivity across the business and the perceived complexity of initiating the changeover to 5G.
Given the emerging concerns surrounding connectivity and network security, McGregor urges businesses to gauge cost in relation to the value of uptime, response time, customer satisfaction, reach, and a versatile range of solutions. He says, "Organisations that measure cost to business not just on initial investment but also on these factors will quickly realise how 5G business value impacts their bottom line."
The survey also surveyed Australian businesses' responses to sustainability goals. Over two-thirds of businesses agreed that sustainability is key to their organisation's short-term and long-term goals. Likewise, the same proportion admitted that enhancing sustainability endeavours could potentially enhance their revenue. Finally, smarter, more sustainable facilities deploying IoT and connected devices were deemed necessary by these businesses to operate more efficiently.
