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Electronic Manufacturing Industry Statistics and Growth ProjectionsThe trends below mean that there are a variety of influences changing the industry. There are some important statistics that have been highlighted because of this. Some of the most notable include:
- Hourly downtime is experienced by many businesses, with 98% saying that it may cost them $100,000 per hour or more.
- Predictive maintenance could lower costs by 20%.
- Unplanned outages can be avoided by up to 50% through predictive maintenance.
- 72% of large companies require 99% minimum uptime.
- The industry is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is projected 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.
- Three-quarters of companies will have digitized their supply changes by 2021.
- Close to 1/3 of companies have already implemented IoT into their devices.