Connected mining benefits in gaining real-time visibility into each step of your production so you can more accurately monitor output, equipment, worker location, and security. Experience better, faster decision making with reduced production cost and improved safety. Connected mining help to create safer working conditions and prepare for growth and respond to new opportunities. In addition, connected mining solutions enable you to manage multiple applications, including dispatch, safety, telemetry, voice and video on a single reliable, secure network.
The value of the Connected Mining market is projected to grow to USD 28.1 Billion with an estimated CAGR of 12.7 % by 2030
The global connected mining Market market size is predicted to grow at a significant CAGR over the forecast period. This can be ascribed to the growing need for real-time visibility & control, and rising inclination to enhance production efficiency. Connected mining reduce risk, improve compliance and enhance security with environmental, physical, and cyber safety measures. Connected mining solutions connect end-to-end operations of your mine with a multi-service, reliable network, ruggedized for the physical conditions of your mining operations.
Over the forecast period, the growing trend of Industry 4.0 standard, and adoption of big data, predictive analytics tools is expected to boost the market growth. In Asia Pacific, there are highest number of installed connected solutions. North America is the second largest then followed by Middles East & Africa market.
Connected Mining Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||USD 28.1 Billion|
|Growth Rate||CAGR of 12.7 % during 2022-2030|
|Segment Covered||By Component, By Deployment Type, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||ABB (Switzerland), IBM (US), SAP (Germany), Cisco (US), Schneider Electric (France), Komatsu (Japan), Hexagon (Sweden), Caterpillar (US), Rockwell Automation (US), Trimble (US), Siemens (Germany), Howden (Scotland), Accenture (Ireland), PTC (US), Hitachi (Japan).|
Key Segments of the Global Connected Mining Market
Type Overview, 2015-2028 (USD Billion)
- Control Systems
- Safety and Security Systems
- Remote Management Solution
Application Overview, 2015-2028 (USD Billion)
- Surface Mining
- Underground Mining
Regional Overview, 2015-2028 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global Connected Mining Market Market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global Connected Mining Market Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the Connected Mining Market industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on Type, Type, Application, and Application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Connected Mining Market Market. The report will benefit:
- Every stakeholder involved in the Connected Mining Market Market.
- Managers within the Tech companies looking to publish recent and forecasted statistics about the global Connected Mining Market Market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global Connected Mining Market Market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
The growing understanding among organisations of ensuring employee safety and health, environmental protection, and government regulations is the main factor driving the growth of the market for product stewardship. As it is a term known as the duty of the producer, producers are responsible for the shelf-life of their goods. Due to a growing appetite for eco-friendly goods, manufacturers are concentrating on organic packaging. Such awareness among individuals has increased the prominence of the market for product stewardship.
In every manufacturer's day-to-day operations and licence to operate, however, product stewardship is a vital aspect. Nevertheless the dedication to EHS management is evidenced by an efficiently controlled product stewardship process and allows increasing demands for safer and healthier eco-friendly goods to be met. By reducing the risk of damage to both the environment and society, the stewardship process adds value to goods. Rising the amount of quality management embraced by manufacturers could provide a catalyst for the global market for product stewardship. In the global product stewardship industry, capitalising on product stewardship opportunities in supply chains will also help to boost efficiency and gain competitive advantage.
Based on Type, the remote management solution segment of the market is projected to grow at the highest CAGR from 2019 to 2028, owing to the high demand for remote application across mining operations. Connected solutions control onsite costs and improve safety with real-time video and in-ground sensor monitoring and analytics. Control Systems segment is estimated to grow at the significant rate over the forecast period. The increasing adoption of advanced technologies like Industry 4.0, industrial IoT, and predictive analytics are expected to be key factors contributing to market growth.
Application segment is comprised of surface mining and underground mining. The Surface Mining segment is expected to lead the market from 2019. Mining operators can simply and quickly connect to cloud and edge applications, sensors, and remotely controlled mining vehicles, robots and equipment to gain true process and operations efficiency. Underground Mining segment is projected to grow at significant rate over the forecast period.
In various regions across the globe, the global connected mining market market is experiencing steady growth. With regard to the regional outlook, Asia Pacific is projected to rank higher in terms of market share than other regions of the global market for connected mining Market. Growing demand for facility management tools across small & large scale enterprises across the developing countries such as India and China in Asia Pacific is projected to witness a prolific growth in the coming years. The growth of North America's global connected mining Market market may also be influenced by an rising mining activities in the region.
The global market for Connected Mining Market is made up of a large number of influential players. Market players such as Thingworx, Alastri, Rockwell Automation, Trimble, SAP SE, Hexagon Ab, ABB Group, and Cisco dominate the worldwide connected mining market. Some of the few other players include Intellisense.Io, Accenture, and Symbotic Ware.