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Electronic Manufacturing Industry Stats and Growth ProjectionsThese trends demonstrate that there are a variety of influences changing the industry. There are several important data that have been highlighted as a consequence of this. A sampling ofhe most notable include:
- Hourly downtime affects many businesses, with as many as 98% stating it may cost them $100,000 or more per hour.
- Predictive maintenance could decrease expenses by 20%.
- Unplanned outages can be avoided by up to 50% through predictive maintenance.
- The majority of large companies, 72%, have to have 99.99% minimum uptime.
- The electronic manufacturing industry is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is projected to be focused on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer doing business with established companies.
- 63% of companies believe that investing in IoT devices will increase profitability.
- Three-fourths of companies will have digitized their supply changes by 2021.
- Close to 1/3 of companies have already implemented IoT into their devices.