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Electronic Manufacturing Industry Stats and Growth ProjectionsThe trends below mean that there are a variety of factors changing the industry. The list below highlights some important stats that have been highlighted as a consequence of this. Some of the most notable include:
- Hourly downtime impacts many businesses. 98% say it can cost them $100,000 per hour or more.
- Predictive maintenance can lower expenses by 20%.
- Unplanned outages can be reduced with predictive maintenance 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 projected to focus on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer doing business with a pre-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 1/3 of companies have already implemented IoT into their devices.