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Electronic Manufacturing Industry Statistics and Growth ProjectionsThe trends below mean that there are a myriad of influences changing the industry. The following are some important stats that have been singled out as a consequence of this. The most notable include:
- Hourly downtime is affecting most businesses, with as many as 98% stating it may cost them $100,000 or more per hour.
- Predictive maintenance can reduce costs by 20%.
- Unplanned outages may be prevented 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 projected to focus on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer working with established companies.
- 63% of companies believe IoT device investment will increase profitability.
- 3/4 of companies will have digitized their supply changes by 2021.
- Close to 1/3 of companies have already implemented IoT into their devices.