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Electronic Manufacturing Industry Stats and Growth ProjectionsThe trends below mean that there are a variety of factors influencing the industry. There are several key statistics that have been featured because of this. Just some of the most notable include:
- Hourly downtime affects the majority of businesses, with 98% saying that it costs them $100,000 per hour or more.
- Predictive maintenance could decrease costs by 20%.
- Unplanned outages could be prevented with predictive maintenance by up to 50%.
- The majority of large companies, 72%, have to have 99.99% 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 established companies.
- 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.