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Electronic Manufacturing Industry Statistics and Growth ProjectionsThese trends have meant that there are numerous of reasons why the industry is changing. There are some influential stats that have been singled out as a result of this. Some of the most notable include:
- Hourly downtime impacts many businesses. 98% say it may cost them at least $100,000 per hour.
- Predictive maintenance may lower expenses by 20%.
- Unplanned outages can be reduced by up to 50% through predictive maintenance.
- Most 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 will focus on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer working with a pre-established company.
- 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.