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Electronic Manufacturing Industry Stats and Growth ProjectionsIndustry trends show that there are a myriad of influences changing the industry. There are several important data that have been featured as a consequence of this. Just some of the most notable include:
- Hourly downtime is affecting many businesses. 98% say it costs them at least $100,000 per hour.
- Predictive maintenance can lower expenses by 20%.
- Predictive maintenance can reduce unplanned outages by up to 50%.
- 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 will focus on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer working with a pre-established company.
- 63% of companies believe investment 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.