GlobalData: Virtual industrial monitoring patents surge reflects mining sector growing emphasis on compliance

16.10.2024

Virtual industrial monitoring is becoming essential in the mining sector, especially for regulatory compliance. By utilizing advanced IoT and AI technologies, these systems offer continuous monitoring and detailed reporting of operational metrics. This helps mining companies meet stringent environmental and safety standards. The rising patent activity further underscores the industry’s shift toward digital solutions for enhanced compliance, says GlobalData, a leading data and analytics company.

GlobalData’s proprietary Technology Foresights framework provides a closer look into the virtual industrial monitoring technologies through the lens of innovation, revealing some compelling statistics.

The overall number of patent filings has experienced a substantial growth, with a significant rise from 190 patents filed in 2022 to 512 in 2023, totaling 1695 patents over the recent years. This increase highlights the sector's growing dedication to utilizing digital solutions for improved compliance and operational effectiveness.

Vaibhav Gundre, Project Manager of Disruptive Tech at GlobalData, comments: “The rising patent activities reflect the mining sector’s strategic pivot towards digital innovation. The broader sector trend focuses on cloud-based virtualization 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 virtualizing industrial environments, predictive analytics, and real-time data visualization. These technologies are important for helping mining companies comply with regulatory requirements efficiently.

General Electric (GE), despite being a challenger in this domain, has made notable advancements in virtual industrial monitoring. GE’s emphasis on creating scalable and adaptable monitoring solutions that can be seamlessly integrated into the current industrial systems marks 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 minimizing integration disruptions. This strategic difference highlights their unique approaches to the shared goal of enhancing regulatory compliance through technology.

Gundre concludes: “Looking ahead, it is crucial to sustain this progress through continuous innovation. 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.”