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Electronic Manufacturing Industry Stats and Growth ProjectionsThese trends have meant that there are a myriad of factors changing the industry. The following are several key stats that have been featured because of this. A sampling ofhe most notable include:
- Hourly downtime affects most businesses. 98% say it costs them $100,000 per hour or more.
- Predictive maintenance could decrease costs by 20%.
- Unplanned outages can be avoided by up to 50% through 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 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.