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Electronic Manufacturing Industry Statistics and Growth ProjectionsThe trends below mean that there are a variety of factors influencing the industry. The list below highlights a sampling of important stats that have been singled out as a consequence of this. The most notable include:
- Hourly downtime is affecting many businesses. 98% say it can cost them at least $100,000 per hour.
- Predictive maintenance can decrease expenses by 20%.
- Predictive maintenance can prevent unplanned outages by up to 50%.
- 72% of large companies must maintain 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 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 a third of companies have already implemented IoT into their devices.