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Electronic Manufacturing Industry Statistics and Growth ProjectionsThe trends below mean that there are a variety of reasons why the industry is changing. There are some important data that have been featured as a result of this. Some of the most notable include:
- Hourly downtime is affecting many businesses. 98% say it may cost them $100,000 or more per hour.
- Predictive maintenance could decrease costs by 20%.
- Unplanned outages can be prevented with predictive maintenance by up to 50%.
- 72% of large companies require 99% minimum uptime.
- Electronic manufacturing is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is set to be focused on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer dealing 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.