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Electronic Manufacturing Industry Stats and Growth ProjectionsIndustry trends show that there are many of factors changing the industry. The list below highlights some influential data that have been highlighted as a consequence of this. The most notable include:
- Hourly downtime is experienced by the majority of businesses, with 98% saying that it may cost them $100,000 or more per hour.
- Predictive maintenance may reduce expenses by 20%.
- Unplanned outages can be reduced by up to 50% through predictive maintenance.
- Many large companies, 72%, have to have 99.99% minimum uptime.
- The electronic manufacturing 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 a third of companies have already implemented IoT into their devices.