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Electronic Manufacturing Industry Stats and Growth ProjectionsThese trends have meant that there are many of influences changing the industry. The following are several important statistics that have been singled out because of this. The most notable include:
- Hourly downtime is affecting many businesses, with as many as 98% stating it costs them at least $100,000 per hour.
- Predictive maintenance can lower expenses by 20%.
- Predictive maintenance can prevent unplanned outages by up to 50%.
- 72% of large companies are required to maintain 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 dealing with an established company.
- 63% of companies believe that investing in IoT devices will increase profitability.
- Three-fourths of companies will have digitized their supply changes by 2021.
- Close to one third of companies have already implemented IoT into their devices.