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Electronic Manufacturing Industry Statistics and Growth ProjectionsThe trends below mean that there are a myriad of factors changing the industry. There are several key data that have been singled out as a result of this. A sampling ofhe most notable include:
- Hourly downtime affects the majority of businesses. 98% say it may cost them $100,000 per hour or more.
- Predictive maintenance can reduce costs by 20%.
- Unplanned outages can be avoided with predictive maintenance by up to 50%.
- The majority of large companies, 72%, must have 99.99% 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 established companies.
- 63% of companies believe that investing in IoT devices will increase profitability.
- Three-fourths of companies will have digitized their supply changes by 2021.
- Close to one third of companies have already implemented IoT into their devices.