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Electronic Manufacturing Industry Stats and Growth ProjectionsThe trends below mean that there are a myriad of reasons why the industry is changing. The list below highlights a sampling of key data that have been highlighted as a result of this. Some of the most notable include:
- Hourly downtime is experienced by most businesses, with as many as 98% stating it costs them $100,000 or more per hour.
- Predictive maintenance could lower expenses by 20%.
- Unplanned outages can be reduced by up to 50% by predictive maintenance.
- Most large companies, 72%, must have 99.99% minimum uptime.
- Electronic manufacturing is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is porjected to be focused on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer working with an established company.
- 63% of companies believe that investing in IoT devices will increase profitability.
- 3/4 of companies will have digitized their supply changes by 2021.
- Close to 1/3 of companies have already implemented IoT into their devices.