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Electronic Manufacturing Industry Stats and Growth ProjectionsThe trends below mean that there are numerous of reasons why the industry is changing. There are a sampling of key data that have been featured as a consequence of this. The most notable include:
- Hourly downtime affects many businesses, with 98% saying that it can cost them $100,000 per hour or more.
- Predictive maintenance could lower expenses by 20%.
- Predictive maintenance can help avoid unplanned outages by up to 50%.
- Most large companies, 72%, require 99.99% minimum uptime.
- The industry is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is porjected to be focused 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 a third of companies have already implemented IoT into their devices.