New research by Inmarsat has revealed a rapid increase in the maturity level of the industrial Internet of Things (IoT) across the mining sector since the start of the COVID-19 pandemic.
Respondents from the sector reported that COVID-19 has demonstrated the importance of IoT to their businesses, with many accelerating IoT deployments in response to the pandemic.
According to the research, adoption has seen huge progress from 2020 to 2021. 82% of mining respondents have now fully deployed at least one IoT project, with 37% having achieved this in the twelve month period from the second quarter of 2020. Of the remaining 18% of mining respondents that have not yet adopted IoT in any form, all of them are either currently trialling it, or plan to deploy or trial at least one IoT project in the next two years.
A further 81% of mining respondents indicated they have or they intend to accelerate the adoption of IoT in response to challenges related to COVID-19. This figure includes 40% who have already accelerated IoT adoption to respond to COVID-19, versus 21% who will accelerate over the next 12 months, and 20% who will accelerate beyond the next 12 months. The 40% that have already accelerated IoT adoption are less likely to state that COVID-19 has negatively impacted their ability to operate, demonstrating a link between IoT and business continuity during the pandemic. Additionally, nearly half (47%) of respondents in the sector indicated that business and operational challenges related to COVID-19 have underlined the importance of IoT.
Commenting on this acceleration of IoT in the mining sector, Nicholas Prevost, Director of Mining Innovation at Inmarsat said:
“While the mining sector has, historically, lagged behind other industries in its adoption of radical ideas and new technologies, our latest research reveals that the sector has made considerable progress in terms of IoT adoption and development over the last few years and is very upbeat about its potential. The COVID-19 crisis has only served to accelerate the rate of IoT adoption in many mining businesses and we are now seeing evidence that those companies that are increasing the speed of adoption of IoT and associated technologies are gaining an advantage, through their ability to keep operations going autonomously and with greater insight.”
Commenting on the research, Mike Carter, President of Inmarsat Enterprise said:
“The rapid increase in IoT deployments over the last few years highlights the considerable progress global industry has made to overcome some of the world’s most challenging forces. It is particularly interesting, though logical, that COVID-19 has further catalysed businesses to increase their reliance on Industry 4.0 technologies, and particularly the industrial Internet of Things, in order to maintain business continuity. Those businesses implementing IoT technologies ahead of their competition and across their value chains are those who stand to win in the long-term.”
Read the article online at: https://www.globalminingreview.com/mining/22092021/inmarsat-research-shows-increase-in-levels-of-industrial-iot-usage/