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Electronic Manufacturing Industry Stats and Growth ProjectionsThese trends have meant that there are many of factors influencing the industry. The following are a sampling of influential statistics that have been featured as a result of this. The most notable include:
- Hourly downtime is affecting most businesses, with as many as 98% stating it costs them $100,000 or more per hour.
- Predictive maintenance may lower costs by 20%.
- Predictive maintenance can reduce unplanned outages by up to 50%.
- 72% of large companies must maintain 99% minimum uptime.
- Electronic manufacturing 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 IoT device investment will increase profitability.
- Three-fourths of companies will have digitized their supply changes by 2021.
- Close to a third of companies have already implemented IoT into their devices.