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July 14, 2022updated 11 Jul 2022 10:07am

Internet of things innovation among mining industry companies has dropped off in the last year

Analysis of patent filings shows a shrinking level of IoT related applications in the industry over the past year

By Data Journalism Team

Research and innovation in internet of things (IoT) in the mining industry operations and technologies sector has declined in the last year.

The most recent figures show that the number of IoT-related patent applications in the industry stood at 24 in the three months ending May – down from 57 over the same period in 2021.

Figures for patent grants related to IoT followed a similar pattern to filings – shrinking from 30 in the three months ending May 2021 to 27 in the same period in 2022.

The figures are compiled by GlobalData, which tracks patent filings and grants from official offices around the world. Using textual analysis, as well as official patent classifications, these patents are grouped into key thematic areas, and linked to key companies across various industries.

IoT is one of the key areas tracked by GlobalData. It has been identified as being a key disruptive force facing companies in the coming years, and is one of the areas that companies investing resources in now are expected to reap rewards from. The figures also provide an insight into the largest innovators in the sector.

Honeywell International was the top IoT innovator in the mining industry operations and technologies sector in the latest quarter. The company, which has its headquarters in the US, filed 19 IoT-related patents in the three months ending May. That was down from 41 over the same period in 2021.

It was followed by the US-based Caterpillar with three IoT patent applications, the US-based ITT (one application), and Sweden-based Sandvik (one application).

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