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Electronic Manufacturing Industry Stats and Growth ProjectionsThese trends have meant that there are a variety of influences changing the industry. The list below highlights several influential statistics that have been singled out as a result of this. Just some of the most notable include:
- Hourly downtime is experienced by the majority of businesses, with as many as 98% stating it may cost them at least $100,000 per hour.
- Predictive maintenance may 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 expected to focus on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer doing business with a pre-established company.
- 63% of companies believe investment in IoT devices 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.