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Electronic Manufacturing Industry Statistics and Growth ProjectionsIndustry trends show that there are a variety of influences changing the industry. There are some important stats that have been featured as a result of this. Just some of the most notable include:
- Hourly downtime affects the majority of businesses, with 98% saying that it can cost them $100,000 or more per hour.
- Predictive maintenance could decrease expenses by 20%.
- Unplanned outages may be avoided with predictive maintenance by up to 50%.
- Most large companies, 72%, require 99.99% minimum uptime.
- The industry is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is expected to focus 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 1/3 of companies have already implemented IoT into their devices.