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Electronic Manufacturing Industry Stats and Growth ProjectionsThese trends demonstrate that there are a variety of factors changing the industry. The following are several important statistics that have been highlighted as a result of this. Some of the most notable include:
- Hourly downtime affects the majority of businesses, with 98% saying that it costs them at least $100,000 per hour.
- Predictive maintenance may lower expenses by 20%.
- Unplanned outages may be reduced with predictive maintenance 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 working with established companies.
- 63% of companies believe IoT device investment 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.