Virtual industrial monitoring is becoming essential and more common in the mining sector, especially for regulatory compliance, according to data and analytics company GlobalData.
Virtual industrial monitoring relies on advanced IoT and AI technologies that allow continuous tracking and detailed reporting of operational metrics. This helps mining companies meet stringent environmental and safety standards and underscores the industry’s shift toward digital solutions for enhanced compliance.
GlobalData’s proprietary Technology Foresights framework provides a closer look at virtual industrial monitoring technologies through the lens of innovation, revealing some compelling statistics.
The overall number of patent filings has experienced substantial growth, with a significant rise from 190 patents filed in 2022 to 512 in 2023. This increase highlights the sector’s growing dedication to utilising digital solutions for improved compliance and operational effectiveness.
“The rising patent activities reflect the mining sector’s strategic pivot towards digital innovation,” said GlobalData’s Project Manager of Disruptive Tech, Vaibhav Gundre. “The broader sector trend focuses on cloud-based virtualisations and predictive analytics, coupled with advancements in scalable and adaptable monitoring systems. These innovations are not only streamlining operations but are also setting new benchmarks for regulatory compliance, enabling mining companies to manage environmental and safety risks more effectively.”
Rockwell Automation has become a prominent player in virtual industrial monitoring. The company’s innovations include cloud-based data for virtualising industrial environments, predictive analytics, and real-time data visualisation. These technologies are important for helping mining companies comply with regulatory requirements efficiently.
General Electric has made notable advancements in virtual industrial monitoring. GE’s emphasis on creating scalable and adaptable monitoring solutions that can be easily integrated into the current industrial systems mark its significant contributions to the sector. These technologies are specifically designed to improve compliance and operational flexibility.
While Rockwell Automation stands out for its comprehensive and detailed monitoring solutions, GE differentiates itself by focusing on adaptability and minimising integration disruptions. This strategic difference highlights their unique approaches to the shared goal of enhancing regulatory compliance through technology.
“Looking ahead, it is crucial to sustain this progress through continuous innovation,” adds Gundre. “However, the sector also needs to tackle issues such as technology integration and scalability to ensure that these developments are advantageous for all stakeholders. Maintaining this balance will be vital for preserving high standards of transparency and efficiency.”
