London, UK -- (SBWIRE) -- 10/18/2022 -- The latest publication titled Internet of Things (IoT) in Mining – Thematic Research report has been added to GlobalData Plc report store. The report predicts the market size grew by USD 1.4 billion in 2020. The market will also project a CAGR of over 6% during 2021-2025. The growth of this market will be driven by the benefits of IoT aiding to overcome challenges in mining. The falling price of sensors and improved computing power is helping miners to implement IoT across the whole value chain.
View Report Outlook to Get Additional Dynamics: https://www.globaldata.com/store/report/iot-in-mining-theme-analysis/
Using data from machines to improve productivity and efficiency can in turn help reduce emissions, improving ESG credentials. Autonomous drilling, driverless haul trucks, drones for surveying and safety, wearable technologies, and predictive maintenance are some of the IoT technologies that can improve mining operations. By adding internet connectivity and sensors to vehicles, machinery, and people, mining companies can increase efficiency, improve productivity, and safety, and reduce costs on the mine site.
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IoT Value Chain Analysis
The IoT value chain analysis comprises the following components –
Device layer
- Connected things
- Cameras and lenses
- Microprocessors
- Sensors & microcontrollers
Connectivity layer
- Edge infrastructure
- Cloud infrastructure
- Networking equipment
- Telecom networks
Data layer
- Data governance and security
- Business intelligence
- Data analysis
- Data storage
- Data processing
- Data aggregation
- Data integration
App layer
- Apps
- Platforms
Services layer
- Automated home
- Connected car
- Wearable tech
- Industrial Internet
- Smart cities
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Key IoT in Mining Highlights
- IoT aids in addressing key challenges including those of ESG, health and safety, COVID-19, productivity, and digitalization. Drones and autonomous vehicles deploying IoT also enable solving issues persisting from communication and data security.
- Companies are engaging in launching innovative solutions and offerings products to cater the mining industry. For instance, LKAB used drones to map their underground iron mine in Kiruna, Sweden following a seismic event in 2020.
- Similarly, in January 2021, Nokia and Symboticware are partnering to co-develop IoT technology for underground connectivity. The partnership is anticipated to use private wireless and Industrial Internet to transform connectivity, communication, and location services, without relying on Wi-Fi.
- Vale has partnered with ABB and uses its Ability AssetVista Condition Monitoring Solution to manage the maintenance of stackers and the 9km long conveyor system.
- Newcrest partnered with Insight and Microsoft Azure to improve productivity, reduce downtime, and increase throughput at their Cadia Valley mine in New South Wales, Australia.
- Boliden uses IoT for water management. Boliden wanted to identify and measure groundwater seepage and consequential water flows from waste at a decommissioned gold mine and provides accurate real-time data from the isolated site.
- Alrosa developed and deployed an automated wireless monitoring system to improve the safety of the tailings storage facility at the processing plant. This automated monitoring and alert reduces the risk of emergencies and improves the operational safety of structures by notifying operators early and allowing them to intervene in the case of an emergency. This minimizes the threat of emergencies occurring at the plant and damaging the local ecology and environment.
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Key IoT Companies in Mining
GlobalData highlights companies that are making their mark within the IoT theme
- ABB
- Caterpillar
- Fatigue Science
- Guardhat
- Hexagon
- Newtrax
- Rockwell Automation
- Sandvik
- SymboticWare
- Trimble
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