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Electronic Manufacturing Industry Statistics and Growth ProjectionsThe trends below mean that there are a variety of reasons why the industry is changing. There are several important statistics that have been highlighted because of this. Just some of the most notable include:
- Hourly downtime is affecting most businesses. 98% say it costs them $100,000 per hour or more.
- Predictive maintenance may decrease expenses by 20%.
- Predictive maintenance can reduce unplanned outages by up to 50%.
- Many large companies, 72%, have to have 99.99% minimum uptime.
- Electronic manufacturing 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 doing business with a pre-established company.
- 63% of companies believe that investing in IoT devices will increase profitability.
- 3/4 of companies will have digitized their supply changes by 2021.
- Close to one third of companies have already implemented IoT into their devices.