Mining industry falling behind on IoT, finds Viasat report
Viasat, Inc., a global leader in satellite communications, has shared its ‘State of Industrial IoT in 2024’. It finds the mining industry has the lowest IoT progress scores across multiple industries, with investment levels in the technology declining since 2021.
Industrial Internet of Things (IIoT) solutions utilise a range of connected devices which can help companies operate more safely, efficiently, and sustainably. Examples include equipment for environmental monitoring, remote control solutions, and automated safety devices.
The report uses insights from hundreds of business leaders from around the world across five major industries – agriculture, energy, mining, transport, and utilities. Participants were asked about their IoT solutions, priorities, challenges, budget, and progress so far.
Overall, 83% of respondents from the mining sector say that they have or are developing an IoT strategy – lower than others surveyed. The report also shows a slight decrease in investment levels since 2021, with 2.4% less being spent in 2024 versus the last time the sector was surveyed by Viasat.
Respondents from mining say IoT has a stronger focus on equipment and machinery than on the workforce. IoT for equipment monitoring and control, for example pumps, lights, conveyor belts, stands at 36% deployed and 30% trialing. Meanwhile, IoT for personnel tracking to improve health and safety (18%) currently lags behind other industries.
However, respondents suggest IoT deployment could increase due to regulatory and environmental pressures. Mine waste – known as ‘tailings’ in the industry – is under considerable scrutiny due to environmental concerns. More than half of respondents say they have deployed or are trialing IoT for the purposes of monitoring Tailings Storage Facilities (TSFs).
Nearly a third (30%) of respondents report the largest challenge once solutions are deployed is a lack of consistent and reliable connectivity. Following the previous report in 2021, satellite connectivity has become the most popular connectivity source for enabling IoT, at 41%, with others opting on a range of solutions like WiFi (39%), cellular (36%) and radio (34%). With businesses still reporting connectivity gaps, the findings could suggest there is room for growth in highly reliable satellite solutions.
Andy Kessler, Vice President, Viasat Enterprise, said: “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. Looking forward, reducing the complexity of converging satellite and terrestrial is going to be key to maximising the full potential for IoT.”
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