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Electronic Manufacturing Industry Stats and Growth ProjectionsThese trends have meant that there are numerous of factors changing the industry. The following are several important data that have been highlighted as a result of this. Just some of the most notable include:
- Hourly downtime impacts most businesses. 98% say it may cost them at least $100,000 per hour.
- Predictive maintenance can lower expenses by 20%.
- Predictive maintenance can reduce unplanned outages by up to 50%.
- 72% of large companies must maintain 99% minimum uptime.
- The electronic manufacturing 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 dealing with established companies.
- 63% of companies believe that investing in IoT devices will increase profitability.
- Three-fourths of companies will have digitized their supply changes by 2021.
- Close to one third of companies have already implemented IoT into their devices.