Internet of Things (IoT) is a gaining popularity in the mining industry to sharing the operational data with the equipment suppliers to eliminate all unplanned maintenance. IoT is a network of physical devices containing embedded technology can communicate, sense and interact with their internal states and external environments. As the cost of sensors coming down, it became more feasible to collect data of mining equipment’s using Internet of Things to ensure continuous equipment uptime.
THE BUSINESS RESEARCH COMPANY VALUED THE DIATOMITE MINING GLOBAL MARKET AT $1 BILLION IN 2017
Asia Pacific was the largest geographic region in the market, accounting for more than one-third of the global market.
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The chart below shows the year-on-year growth of the global diatomite mining market during 2017 – 2021
According to The Business Research Company’s Consultant, Nitin Gianchandani, the implementation of IoT in mining industry is enhancing decision making capabilities and reduces production costs. IoT enables the sensors to pick up real time data, analyze the data, facilitate equipment communication, identifies faulty equipment and derive insights from the data generated. With fully integrated network, the mining equipment is monitored on real time basis and a report is projected on when the repairs or maintenance is required. In the near future, IoT is expected to become the standard in mining industry. According to the report published by Deloitte, globally, 69% of the mining companies are looking at remote monitoring and 29% at unmanned drones to improve their operations monitoring and productivity.
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Imerys was the biggest player in the diatomite mining market in 2017, with revenues of $4.4 billion in 2016. Imerys’ strategy aims at ensuring the group results a steady growth while creating long-term value. Innovation, investments and targeted acquisitions contribute to broadening the group’s business portfolio and geographical footprint whilst providing access to new markets.
The diatomite mining market includes mining and processing of diatomite, which is delicate and complicated. It requires large processing facilities and heavy earth moving equipment.
Diatomite Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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