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Electronic Manufacturing Industry Statistics and Growth ProjectionsThese trends have meant that there are many of factors changing the industry. The list below highlights a sampling of key data that have been singled out as a consequence of this. A sampling ofhe most notable include:
- Hourly downtime impacts the majority of businesses, with 98% saying that it costs them $100,000 per hour or more.
- Predictive maintenance can decrease expenses by 20%.
- Unplanned outages may be avoided with predictive maintenance by up to 50%.
- 72% of large companies require 99% minimum uptime.
- The electronic manufacturing industry is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is projected to 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.
- 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.