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Electronic Manufacturing Industry Statistics and Growth ProjectionsThese trends have meant that there are a variety of factors changing the industry. The list below highlights a sampling of key statistics that have been singled out because of this. The most notable include:
- Hourly downtime is affecting most businesses, with 98% saying that it can cost them $100,000 or more per hour.
- Predictive maintenance could reduce expenses by 20%.
- Unplanned outages may be avoided with predictive maintenance by up to 50%.
- The majority of large companies, 72%, have to have 99.99% minimum uptime.
- The industry is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is projected to focus on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer doing business with established companies.
- 63% of companies believe IoT device investment 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.