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Electronic Manufacturing Industry Statistics and Growth ProjectionsThese trends demonstrate that there are a variety of factors influencing the industry. The following are several key stats that have been featured as a consequence of this. Some of the most notable include:
- Hourly downtime is affecting the majority of businesses, with as many as 98% stating it may cost them $100,000 or more per hour.
- Predictive maintenance could decrease expenses by 20%.
- Unplanned outages could be reduced with predictive maintenance by up to 50%.
- 72% of large companies require 99% minimum uptime.
- The industry is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is will focus on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer doing business with a pre-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 one third of companies have already implemented IoT into their devices.