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Electronic Manufacturing Industry Statistics and Growth ProjectionsIndustry trends show that there are numerous of factors influencing the industry. The following are several influential statistics that have been featured as a result of this. Some of the most notable include:
- Hourly downtime impacts the majority of businesses. 98% say it may cost them $100,000 per hour or more.
- Predictive maintenance may decrease expenses by 20%.
- Predictive maintenance can prevent unplanned outages by up to 50%.
- 72% of large companies are required to maintain 99% minimum uptime.
- The industry 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 established companies.
- 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 1/3 of companies have already implemented IoT into their devices.