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- Growing adoption of IoT in mining industry helps companies bolster equipment and people safety and reduce environmental impacts, thus unlocking incredible avenues in smart mining market
- Mining companies deploying automated equipment to boost productivity and operators’ efficiency; adoption of smart mining practices in African countries to generate colossal opportunities in MEA
ALBANY, NY, April 15, 2022 /PRNewswire/ — Firms engaged in smart mining operations are increasingly leveraging automation technologies and advanced connectivity solutions in order to unlock productivity gains. Mining companies globally are investing in these products and solutions to continuously improve safety and boost real-time equipment monitoring, all of which help them raise bottom-lines. A study by TMR scrutinizing key drivers and lucrative opportunities has projected the global smart mining market to reach US$ 29.10 Bn by 2031.
Adoption of data operation & management software has helped mining companies in smart mining market garner revenue gains by optimizing equipment performance in real-time. At the same time, such solutions support proactive maintenance methods which are instrumental in ensuring safer mining.
The analysts in the TMR study observed that innovation in various equipment pieces such as drillers & beakers, automated excavators, and load haul dumps allow controlling of mining and exploration activities remotely and more efficiently. In addition to prospects of smart connectivity solutions in remote management, adoption of asset management solutions are poised to have significant impact on the growth.
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Key Findings of Smart Mining Market Study
- Connectivity Solutions Powered by IoT to Make Mining Safer and Productive: Mining companies are realizing the benefits of connected solutions to improve safety and productivity in mining. The drive toward sustainable mining operations will bolster the application of IoT notably in autonomous haulage vehicles has made steady improvements in safety by reducing haulage accidents. Aside from the safety aspects , telecom companies are offering 5G-ready connectivity solutions, which is likely to greatly boost the mine’s productivity.
- Adoption of Excavators Automated Equipment to Propel Abundant Opportunities: OEMs are aiming…
Full story available on Benzinga.com
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