Viasat, Inc.’s recent report on the state of Industrial IoT in 2024 paints a rather bleak picture for the mining sector. Despite being a critical player in the global economy, mining has fallen behind other industries when it comes to adopting IoT technologies. The findings underscore a troubling trend: investment levels in IoT solutions have been on a downward trajectory since 2021, a sign that the sector may be missing the boat on technological advancements that can enhance safety, efficiency, and sustainability.
The report, which collates insights from business leaders across five major industries, indicates that while 83% of mining sector respondents claim to have or be developing an IoT strategy, this figure lags behind other sectors. The mining industry appears to be more focused on IoT applications for equipment and machinery—like monitoring pumps and conveyor belts—rather than for improving workforce safety. Only 18% of mining respondents are using IoT for personnel tracking, a stark contrast to the pressing need for enhanced health and safety measures in an often hazardous work environment.
The decline in investment is particularly concerning. With a reported decrease of 2.4% in spending from the previous survey, it raises questions about the industry’s commitment to leveraging IoT technologies. As the mining sector grapples with environmental scrutiny—especially concerning tailings storage—there is a growing recognition that IoT can play a pivotal role in monitoring and managing these facilities. Over half of the respondents indicated they are either deploying or trialing IoT solutions for Tailings Storage Facilities (TSFs), highlighting a potential area for growth.
Connectivity remains a significant hurdle for the industry. Nearly a third of respondents pointed to inconsistent and unreliable connectivity as a major challenge once IoT solutions are deployed. The report reveals a shift in preference towards satellite connectivity, which has surged to become the most popular choice at 41%. This shift suggests that companies are beginning to recognize the limitations of traditional connectivity options like WiFi and cellular networks in remote mining locations.
Andy Kessler, Vice President of Viasat Enterprise, emphasized the importance of reliable connectivity, stating, “IoT has proven its value for businesses navigating an unpredictable environment, helping them become more agile and efficient. But businesses still face connectivity issues, which is why they are looking for reliable, consistent satellite solutions to drive the roll-out.” This sentiment encapsulates the crux of the issue: without dependable connectivity, the full potential of IoT remains untapped.
As the mining industry stands at a crossroads, the findings from Viasat’s report should serve as a wake-up call. The challenge lies not just in adopting IoT technologies but in overcoming the barriers that have held the sector back. With increasing regulatory and environmental pressures, the time to act is now. Embracing IoT could not only enhance operational efficiency but also align the industry with modern sustainability goals. It’s high time for mining to step up its game in the IoT arena—before it falls further behind.
