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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. There are some key data that have been featured because of this. The most notable include:
- Hourly downtime is experienced by the majority of businesses, with as many as 98% stating it can cost them at least $100,000 per hour.
- Predictive maintenance could lower expenses by 20%.
- Predictive maintenance can prevent unplanned outages by up to 50%.
- Many large companies, 72%, have to have 99.99% minimum uptime.
- Electronic manufacturing is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is set to be focused on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer working with a pre-established company.
- 63% of companies believe investment in IoT devices will increase profitability.
- 3/4 of companies will have digitized their supply changes by 2021.
- Close to one third of companies have already implemented IoT into their devices.