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Electronic Manufacturing Industry Stats and Growth ProjectionsThese trends demonstrate that there are a myriad of factors influencing the industry. There are some influential statistics that have been singled out because of this. Just some of the most notable include:
- Hourly downtime is affecting the majority of businesses, with as many as 98% stating it costs them $100,000 or more per hour.
- Predictive maintenance may reduce expenses by 20%.
- Predictive maintenance can help avoid unplanned outages by up to 50%.
- 72% of large companies are required to maintain 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 IoT device investment will increase profitability.
- 3/4 of companies will have digitized their supply changes by 2021.
- Close to one third of companies have already implemented IoT into their devices.