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Electronic Manufacturing Industry Stats and Growth ProjectionsThese trends demonstrate that there are a variety of reasons why the industry is changing. The list below highlights some key stats that have been singled out as a consequence of this. Some of the most notable include:
- Hourly downtime is experienced by the majority of businesses, with 98% saying that it can cost them at least $100,000 per hour.
- Predictive maintenance could decrease expenses by 20%.
- Predictive maintenance can prevent unplanned outages by up to 50%.
- The majority of large companies, 72%, must have 99.99% minimum uptime.
- The industry is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is set to be focused 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.
- 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.