GE Research data has indicated that 46% of the economy could benefit from IIoT. Companies that use IIoT successfully reduce inefficiencies/errors by using sensor data to make smarter/informed decisions.
Increasing metals demand, environmental requirements (reducing carbon emissions), word wide competition, lower margins – all are putting pressure on miners for safer, less polluting and more productive operations.
Industry 4.0 means smart machines: more automation, the merger of the physical and digital worlds (IIoT), a move away from central industrial controls to a more distributed system with smart machines defining and controlling processes and lastly the use of digital twins, data models, etc… This all leads to an increased customization of products rendering them more fit for purpose and therefore more efficient.