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Electronic Manufacturing Industry Statistics and Growth ProjectionsThese trends have meant that there are many of influences changing the industry. The list below highlights several influential data that have been singled out as a consequence of this. A sampling ofhe most notable include:
- Hourly downtime is experienced by many businesses. 98% say it can cost them at least $100,000 per hour.
- Predictive maintenance can decrease expenses by 20%.
- Unplanned outages can be reduced with predictive maintenance by up to 50%.
- 72% of large companies must maintain 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.
- Three-quarters of companies will have digitized their supply changes by 2021.
- Close to a third of companies have already implemented IoT into their devices.