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Electronic Manufacturing Industry Stats and Growth ProjectionsThe trends below mean that there are many of factors influencing the industry. The list below highlights some influential stats that have been featured as a consequence of this. The most notable include:
- Hourly downtime is affecting many businesses, with as many as 98% stating it may cost them $100,000 per hour or more.
- Predictive maintenance can lower expenses by 20%.
- Unplanned outages can be reduced by up to 50% by predictive maintenance.
- 72% of large companies require 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 working with a pre-established company.
- 63% of companies believe that investing in IoT devices will increase profitability.
- Three-quarters of companies will have digitized their supply changes by 2021.
- Close to 1/3 of companies have already implemented IoT into their devices.