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Electronic Manufacturing Industry Statistics and Growth ProjectionsThese trends demonstrate that there are a myriad of reasons why the industry is changing. The list below highlights a sampling of key statistics that have been highlighted as a consequence of this. A sampling ofhe most notable include:
- Hourly downtime affects many businesses. 98% say it can cost them at least $100,000 per hour.
- Predictive maintenance can decrease expenses by 20%.
- Unplanned outages can be reduced by up to 50% through predictive maintenance.
- 72% of large companies are required to maintain 99% minimum uptime.
- The electronic manufacturing 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 working 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.