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Electronic Manufacturing Industry Statistics and Growth ProjectionsThese trends have meant that there are a myriad of influences changing the industry. There are several key stats that have been highlighted as a consequence of this. A sampling ofhe most notable include:
- Hourly downtime is affecting most businesses, with 98% saying that it can cost them at least $100,000 per hour.
- Predictive maintenance can reduce costs by 20%.
- Unplanned outages can be avoided with predictive maintenance by up to 50%.
- 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 expected to focus on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer working with an established company.
- 63% of companies believe IoT device investment will increase profitability.
- Three-quarters of companies will have digitized their supply changes by 2021.
- Close to 1/3 of companies have already implemented IoT into their devices.