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Electronic Manufacturing Industry Stats and Growth ProjectionsThese trends have meant that there are a variety of factors changing the industry. The list below highlights a sampling of important statistics that have been singled out as a consequence of this. A sampling ofhe most notable include:
- Hourly downtime is affecting the majority of businesses. 98% say it may cost them $100,000 or more per hour.
- Predictive maintenance can decrease expenses by 20%.
- Unplanned outages can be reduced with predictive maintenance by up to 50%.
- Most large companies, 72%, must have 99.99% minimum uptime.
- The electronic manufacturing industry is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is expected to focus on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer working 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.