Businesses in the mining sector have slowly begun to recover after the Covid-19 pandemic, and production levels are quickly on the rise. In fact, by 2025 the market is expected to be $2,427.85 billion at a CAGR of 7%. Some of this growth can be attributed to the industry’s increased adoption of IoT technology. At least 67% of mining organizations have implemented at least one IoT-based project, and with a closer look at its benefits, it makes sense why so many leaders in the mining and mineral sector are making their mining sites smarter.
Mining is an incredibly dangerous industry. On top of the risks posed by toxic fumes, risks of collapse, and dangerous temperatures, miners are often in danger of being run over by their mining equipment due to their low visibility in dark, loud environments. In 2021, there have been 15 mining deaths in the US alone.
One way mining organizations can prevent accidents like this is by implementing wearable devices that can transmit data in real time on the location of miners, the levels of dangerous gases near them, where machinery is located, and other physical conditions.
Efficiency is another priority. Mining equipment takes a lot of wear and tear on a daily basis, which entails the need for regular maintenance in order to avoid expensive downtime. By attaching IoT-powered beacon technology to mining machinery, Apptricity can report in real time the condition of the equipment and automatically schedule the next maintenance date. Additionally, the time spent looking for missing equipment is another huge time sink that can be eliminated by these beacons providing the location of all your machinery in real-time.
On top of issues like this, cybersecurity concerns can be completely prevented with the right IoT-enabled equipment. In a 2020 Inmarsat mining industry survey, only 34% of respondents said that they regularly fortified their defenses by patching their networks. These cybersecurity vulnerabilities are a serious threat, but with non-broadcast IoT tech, like Apptricity’s Enterprise Asset Management solution, IoT-connected mining equipment will be virtually hack-proof.
Apptricity is the standard you can rely on to keep your mines functioning safely and securely. To learn more about our Enterprise Asset Management solution and if it’s right for your mining needs, schedule a needs assessment today!