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Electronic Manufacturing Industry Stats and Growth ProjectionsIndustry trends show that there are a myriad of factors influencing the industry. The list below highlights several important data that have been highlighted as a result of this. A sampling ofhe most notable include:
- Hourly downtime affects the majority of businesses, with as many as 98% stating it may cost them at least $100,000 per hour.
- Predictive maintenance could reduce costs by 20%.
- Unplanned outages can be avoided by up to 50% through predictive maintenance.
- 72% of large companies require 99% minimum uptime.
- Electronic manufacturing is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is porjected to be focused 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-quarters of companies will have digitized their supply changes by 2021.
- Close to 1/3 of companies have already implemented IoT into their devices.