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Electronic Manufacturing Industry Statistics and Growth ProjectionsThese trends demonstrate that there are a variety of factors influencing the industry. The list below highlights a sampling of important statistics that have been highlighted as a consequence of this. A sampling of the most notable include:
- Hourly downtime affects the majority of businesses, with 98% saying that it may cost them $100,000 or more per hour.
- Predictive maintenance could lower costs by 20%.
- Unplanned outages may be reduced with predictive maintenance 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 a pre-established company.
- 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 1/3 of companies have already implemented IoT into their devices.