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Electronic Manufacturing Industry Statistics and Growth ProjectionsThe trends below mean that there are a myriad of factors influencing the industry. There are several key statistics that have been singled out as a result of this. Just some of the most notable include:
- Hourly downtime affects many businesses, with 98% saying that it costs them at least $100,000 per hour.
- Predictive maintenance can reduce costs by 20%.
- Unplanned outages can be reduced by up to 50% by implementing predictive maintenance.
- Many large companies, 72%, must have 99.99% minimum uptime.
- The electronic manufacturing industry is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is expected to focus on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer dealing with established companies.
- 63% of companies believe IoT device investment will increase profitability.
- 3/4 of companies will have digitized their supply changes by 2021.
- Close to 1/3 of companies have already implemented IoT into their devices.