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Electronic Manufacturing Industry Statistics and Growth ProjectionsIndustry trends show that there are a myriad of factors changing the industry. The following are some influential data that have been highlighted as a result 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 $100,000 or more per hour.
- Predictive maintenance could lower costs by 20%.
- Predictive maintenance can reduce unplanned outages by up to 50%.
- The majority of large companies, 72%, must have 99.99% minimum uptime.
- Electronic manufacturing is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is porjected to be focused on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer doing business with a pre-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.