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Electronic Manufacturing Industry Statistics and Growth ProjectionsThese trends have meant that there are many of factors influencing the industry. The following are a sampling of important stats that have been singled out as a result of this. Some of the most notable include:
- Hourly downtime is affecting the majority of businesses, with 98% saying that it costs them $100,000 per hour or more.
- Predictive maintenance can reduce costs by 20%.
- Predictive maintenance can help avoid unplanned outages by up to 50%.
- The majority of large companies, 72%, have to have 99.99% minimum uptime.
- The electronic manufacturing industry is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is will focus on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer dealing 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.