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Electronic Manufacturing Industry Stats and Growth ProjectionsThe trends below mean that there are numerous factors changing the industry. The following are some influential statistics that have been singled out as a result of this. The most notable include:
- Hourly downtime is experienced by the majority of businesses, with 98% saying that it may cost them $100,000 per hour or more.
- Predictive maintenance can decrease expenses by 20%.
- Predictive maintenance can help avoid unplanned outages by up to 50%.
- 72% of large companies must maintain 99% minimum uptime.
- The electronic manufacturing industry is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is projected to be focused on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer working with established companies.
- 63% of companies believe that investing in IoT devices will increase profitability.
- Three-fourths of companies will have digitized their supply changes by 2021.
- Close to a third of companies have already implemented IoT into their devices.