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Electronic Manufacturing Industry Statistics and Growth ProjectionsThese trends have meant that there are many of factors influencing the industry. The following are some key statistics that have been featured as a result of this. Just some of the most notable include:
- Hourly downtime is experienced by most businesses, with as many as 98% stating it can cost them $100,000 per hour or more.
- Predictive maintenance can reduce costs by 20%.
- Unplanned outages may be reduced with predictive maintenance by up to 50%.
- Most large companies, 72%, have to have 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 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.