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Electronic Manufacturing Industry Statistics and Growth ProjectionsThese trends have meant that there are a variety of influences changing the industry. The list below highlights a sampling of key stats that have been featured because of this. The most notable include:
- Hourly downtime is experienced by many businesses. 98% say it can cost them $100,000 or more per hour.
- Predictive maintenance may lower expenses by 20%.
- Unplanned outages can be reduced by up to 50% by implementing predictive maintenance.
- 72% of large companies must maintain 99% minimum uptime.
- Electronic manufacturing 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 dealing 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.