Mining and the Internet of Things? You bet.
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When you think of industries leveraging digital technology, you usually think of electronics, finance, retail, or telecommunications. I bet you don't think of mining. Well, think again.
on techvibes.com, industry analyst Kelley Prowse asserts that big data analytics, the Internet of Things, and automation and control technology are starting to be commercially harnessed by the mining industry in a big way. According to Prowse, while the technologies are developing faster than mines can adopt them, deployments are showing huge potential for miners and the technology industry.
According to market projections, total spending on information and communication technologies in the mining sector is forecast to reach $26.1 billion by 2018. What does this investment look like in the mining industry? Prowse paints a picture:
Few do "toys" quite like the mining industry … giant trucks on programmed and responsive routes haul ore autonomously, drones monitor and measure surface operations, and equipment is located, scheduled, and monitored with adaptive feedback loops to maximize production. Autonomous drill rigs and trains are already being trialed.
On the miniature end of the scale there are sensors and transmitters for a plethora of variables. Single sensors can measure machinery operating and environmental variables, while integrated networks of sensors can forecast maintenance requirements, prevent accidents, optimize processes, and monitor environmental compliance. Thanks to their Internet connectivity, it is also possible cover vast distances.
Momentum in the industry is building, with hardware moving towards open standards to maximize the flexibility and interoperability of equipment. But service—including systems integration as well as tailoring data analysis and outputs—is likely to join hardware as a significant technology investment in the mining sector.
At this point, a small number of very large mining companies have taken the lead in adopting technology to mining operations; the industry as whole will look to these early adopters for best practices as they come on board.
Posted by Technology Insights Team