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Home Industry Industrial

Connected solutions are transforming mining

FutureIoT Editors by FutureIoT Editors
November 28, 2024
Photo by Pixabay: https://www.pexels.com/photo/round-brown-and-grey-metal-heavy-equipment-on-sand-33192/

Photo by Pixabay: https://www.pexels.com/photo/round-brown-and-grey-metal-heavy-equipment-on-sand-33192/

A recent report by Berg Insight reveals that the mining industry is experiencing significant digital transformation, driven by connected solutions. In 2023, the total active installed base of connected mining solutions reached nearly 1.3 million units, spanning equipment, personnel, and environmental segments. Notably, the equipment segment dominates this total, encompassing telematics systems and advanced technologies integrated into mining machinery.

With a robust compound annual growth rate (CAGR) of 16.1%, the installed base of connected mining solutions is projected to soar to 2.7 million units by 2028. This growth reflects the increasing adoption of IoT technologies aimed at enhancing operational efficiency and safety in mining operations.

The landscape of connected mining is populated by a diverse array of players, from independent technology suppliers to leading equipment manufacturers. Major companies like Epiroc, Sandvik, Komatsu, and Hitachi Construction Machinery have expanded their technology offerings significantly, influenced by a wave of mergers and acquisitions.

These firms cater to both surface and underground mining sectors, with prominent players in surface mining including Komatsu-owned Modular Mining Systems, Hexagon Mining, and Caterpillar’s Cat MineStar suite.

Veronika Barta

Veronika Barta, IoT analyst at Berg Insight, highlights the sector's push towards autonomy: “Given the operational efficiencies that can be realised, it comes as no surprise that the mining sector has been leading the way for the development of fully autonomous solutions.”

This trend is especially pronounced in underground mining, where autonomous technologies can mitigate the need for evacuations and ventilation pauses, enhancing safety and productivity.

The competition among original equipment manufacturers (OEMs) to implement autonomous mining activities is intensifying. Both Komatsu and Caterpillar have each deployed over 600 autonomous mining trucks, reflecting the industry's commitment to innovation. While the focus has primarily been on autonomous haulage systems (AHS), there is potential for automation in various operational tasks, including drilling and, to a lesser extent, blasting and dozing.

As the mining industry continues to embrace connected solutions, the potential for improved safety, efficiency, and operational effectiveness is greater than ever. The ongoing digital transformation promises to reshape the future of mining, making it a critical area of investment and development.

Related:  Agricultural Bank of China deploys AI-based virtual receptionist
Tags: Berg Insightconnected devicesmining
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The race to harness the power of Internet of Things (IoT) is here. FutureIoT is dedicated to individuals, as well as public and private organizations looking to tap the potential of IoT to transform the way we live, work and do business. FutureIoT is the dedicated media that provides the single source of truth about IoT, the technology, its application and regulation, originating from Asia. << Read more >>

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