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Electronic Manufacturing Industry Stats and Growth ProjectionsThese trends demonstrate that there are many of factors influencing the industry. The list below highlights a sampling of important data that have been featured as a result of this. The most notable include:
- Hourly downtime is affecting the majority of businesses, with as many as 98% stating it costs them at least $100,000 per hour.
- Predictive maintenance could decrease expenses by 20%.
- Unplanned outages could be avoided with predictive maintenance by up to 50%.
- 72% of large companies are required to maintain 99% minimum uptime.
- The industry is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is will focus on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer working with a pre-established company.
- 63% of companies believe IoT device investment 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.