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Electronic Manufacturing Industry Stats and Growth ProjectionsThese trends have meant that there are a variety of reasons why the industry is changing. The list below highlights some key statistics that have been featured as a result of this. The most notable include:
- Hourly downtime impacts many businesses, with 98% saying that it can cost them at least $100,000 per hour.
- Predictive maintenance could reduce costs by 20%.
- Unplanned outages may be avoided with predictive maintenance by up to 50%.
- 72% of large companies require 99% minimum uptime.
- Electronic manufacturing is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is projected to focus on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer doing business with established companies.
- 63% of companies believe that investing 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.