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Electronic Manufacturing Industry Statistics and Growth ProjectionsThese trends have meant that there are numerous of factors changing the industry. The list below highlights a sampling of important statistics that have been featured as a consequence of this. Just some of the most notable include:
- Hourly downtime affects many businesses, with 98% saying that it costs them at least $100,000 per hour.
- Predictive maintenance can reduce expenses by 20%.
- Unplanned outages may be prevented with predictive maintenance by up to 50%.
- 72% of large companies require 99% minimum uptime.
- The electronic manufacturing industry is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is expected to focus on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer dealing with an established company.
- 63% of companies believe IoT device investment 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.