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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 several important stats that have been highlighted because of this. Just some of the most notable include:
- Hourly downtime impacts the majority of businesses. 98% say it may cost them $100,000 or more per hour.
- Predictive maintenance may lower costs by 20%.
- Predictive maintenance can reduce unplanned outages by up to 50%.
- Many large companies, 72%, require 99.99% minimum uptime.
- Electronic manufacturing is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is porjected to be focused 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 a third of companies have already implemented IoT into their devices.