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Electronic Manufacturing Industry Stats and Growth ProjectionsIndustry trends show that there are numerous of factors changing the industry. There are some important data that have been highlighted as a consequence of this. Some of the most notable include:
- Hourly downtime affects many businesses, with 98% saying that it may cost them $100,000 per hour or more.
- Predictive maintenance could lower expenses by 20%.
- Predictive maintenance can prevent unplanned outages by up to 50%.
- The majority of large companies, 72%, require 99.99% minimum uptime.
- Electronic manufacturing 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 dealing with established companies.
- 63% of companies believe that investing in IoT devices will increase profitability.
- 3/4 of companies will have digitized their supply changes by 2021.
- Close to one third of companies have already implemented IoT into their devices.