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Electronic Manufacturing Industry Stats and Growth ProjectionsIndustry trends show that there are many of factors changing the industry. There are several important stats that have been featured because of this. Some of the most notable include:
- Hourly downtime is affecting most businesses. 98% say it may cost them at least $100,000 per hour.
- Predictive maintenance could decrease costs by 20%.
- Unplanned outages could be reduced 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 porjected to be focused on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer doing business with an established company.
- 63% of companies believe that investing 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.