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Electronic Manufacturing Industry Stats and Growth ProjectionsIndustry trends show that there are numerous of factors changing the industry. The list below highlights a sampling of important stats that have been highlighted as a consequence of this. Some of the most notable include:
- Hourly downtime is affecting many businesses, with 98% saying that it costs them at least $100,000 per hour.
- Predictive maintenance may decrease costs by 20%.
- Unplanned outages can be reduced by up to 50% by implementing predictive maintenance.
- 72% of large companies must maintain 99% minimum uptime.
- Electronic manufacturing 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 doing business with an established company.
- 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.