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Electronic Manufacturing Industry Stats and Growth ProjectionsThese trends demonstrate that there are a myriad of influences changing the industry. The following are several important stats that have been featured as a result of this. The most notable include:
- Hourly downtime impacts most businesses. 98% say it can cost them $100,000 per hour or more.
- Predictive maintenance can reduce expenses by 20%.
- Unplanned outages can be reduced by up to 50% by predictive maintenance.
- Most large companies, 72%, have to have 99.99% minimum uptime.
- The industry 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 an 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 a third of companies have already implemented IoT into their devices.