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Electronic Manufacturing Industry Statistics and Growth ProjectionsThe trends below mean that there are numerous of reasons why the industry is changing. The following are several important statistics that have been singled out as a consequence of this. Some of the most notable include:
- Hourly downtime is experienced by most businesses, with 98% saying that it may cost them at least $100,000 per hour.
- Predictive maintenance could lower costs by 20%.
- Predictive maintenance can prevent unplanned outages by up to 50%.
- 72% of large companies must maintain 99% minimum uptime.
- The electronic manufacturing industry 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 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 1/3 of companies have already implemented IoT into their devices.