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Electronic Manufacturing Industry Stats and Growth ProjectionsIndustry trends show that there are a myriad of factors changing the industry. The list below highlights some key stats that have been featured because of this. The most notable include:
- Hourly downtime impacts many businesses, with as many as 98% stating it costs them at least $100,000 per hour.
- Predictive maintenance could reduce costs by 20%.
- Predictive maintenance can prevent unplanned outages by up to 50%.
- 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 expected to focus on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer dealing with an established company.
- 63% of companies believe investment in IoT devices will increase profitability.
- Three-quarters of companies will have digitized their supply changes by 2021.
- Close to one third of companies have already implemented IoT into their devices.