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Electronic Manufacturing Industry Stats and Growth ProjectionsIndustry trends show that there are a myriad of factors influencing the industry. There are several important stats that have been featured because of this. Just some of the most notable include:
- Hourly downtime is experienced by many businesses. 98% say it costs them $100,000 or more per hour.
- Predictive maintenance could reduce expenses by 20%.
- Predictive maintenance can help avoid unplanned outages by up to 50%.
- 72% of large companies must maintain 99% minimum uptime.
- The industry is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is set to be focused on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer doing business with established companies.
- 63% of companies believe investment in IoT devices will increase profitability.
- Three-fourths of companies will have digitized their supply changes by 2021.
- Close to 1/3 of companies have already implemented IoT into their devices.