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Electronic Manufacturing Industry Statistics and Growth ProjectionsThese trends have meant that there are a myriad of reasons why the industry is changing. The following are several influential data that have been featured as a consequence of this. A sampling ofhe most notable include:
- Hourly downtime is affecting most businesses, with 98% saying that it may cost them $100,000 per hour or more.
- Predictive maintenance could decrease costs by 20%.
- Predictive maintenance can help avoid unplanned outages by up to 50%.
- 72% of large companies must maintain 99% minimum uptime.
- The electronic manufacturing 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 working with established companies.
- 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.