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Electronic Manufacturing Industry Stats and Growth ProjectionsThese trends demonstrate that there are numerous of factors changing the industry. The list below highlights several influential statistics that have been featured as a result of this. Some of the most notable include:
- Hourly downtime affects most businesses, with 98% saying that it costs them $100,000 per hour or more.
- Predictive maintenance could decrease costs by 20%.
- Unplanned outages can be reduced by up to 50% by predictive maintenance.
- 72% of large companies require 99% minimum uptime.
- The electronic manufacturing industry is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is projected to focus on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer doing business with an established company.
- 63% of companies believe investment in IoT devices will increase profitability.
- 3/4 of companies will have digitized their supply changes by 2021.
- Close to a third of companies have already implemented IoT into their devices.