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Electronic Manufacturing Industry Stats and Growth ProjectionsThese trends demonstrate that there are a myriad of influences changing the industry. There are a sampling of key stats that have been featured as a result of this. Some of the most notable include:
- Hourly downtime impacts the majority of businesses, with 98% saying that it may cost them $100,000 or more per hour.
- Predictive maintenance could decrease expenses by 20%.
- Predictive maintenance can help avoid unplanned outages 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 be focused on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer doing business 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.