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Electronic Manufacturing Industry Statistics and Growth ProjectionsThese trends demonstrate that there are a variety of influences changing the industry. There are several key data that have been singled out because of this. Some of the most notable include:
- Hourly downtime is experienced by many businesses. 98% say it costs them $100,000 or more per hour.
- Predictive maintenance can decrease costs by 20%.
- Unplanned outages can be reduced by up to 50% by predictive maintenance.
- 72% of large companies must maintain 99% minimum uptime.
- The 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 working with a pre-established company.
- 63% of companies believe that investing in IoT devices 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.