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Electronic Manufacturing Industry Stats and Growth ProjectionsThese trends demonstrate that there are numerous of reasons why the industry is changing. There are several key data that have been featured because of this. A sampling ofhe most notable include:
- Hourly downtime is affecting many businesses. 98% say it can cost them $100,000 or more per hour.
- Predictive maintenance may decrease costs by 20%.
- Unplanned outages can be avoided by up to 50% by implementing predictive maintenance.
- 72% of large companies are required to 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 an established company.
- 63% of companies believe investment in IoT devices will increase profitability.
- 3/4 of companies will have digitized their supply changes by 2021.
- Close to a third of companies have already implemented IoT into their devices.