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Electronic Manufacturing Industry Statistics and Growth ProjectionsThese trends have meant that there are a variety of factors influencing the industry. The following are several important data that have been highlighted as a result of this. Some of the most notable include:
- Hourly downtime affects many businesses, with as many as 98% stating it costs them $100,000 per hour or more.
- Predictive maintenance may reduce costs by 20%.
- Predictive maintenance can reduce unplanned outages by up to 50%.
- 72% of large companies require 99% minimum uptime.
- Electronic manufacturing 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 doing business with an established company.
- 63% of companies believe investment in IoT devices will increase profitability.
- Three-quarters of companies will have digitized their supply changes by 2021.
- Close to one third of companies have already implemented IoT into their devices.