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Electronic Manufacturing Industry Statistics and Growth ProjectionsIndustry trends show that there are many influences changing the industry. The list below highlights some influential stats that have been highlighted as a result of this. Just some of the most notable include:
- Hourly downtime is affecting many businesses, with as many as 98% stating it can cost them $100,000 per hour or more.
- Predictive maintenance could reduce expenses by 20%.
- Predictive maintenance can help avoid unplanned outages by up to 50%.
- Many large companies, 72%, require 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.
- 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.