The opportunities for market growth in connected mining have shown great promise around the world with tremendous growth potential in terms of revenue generation. The global connected mining market is expected to grow with a healthy CAGR over the forecast period. The growing focus on enhancing production efficiency and reliability by tracking every aspect of mining operation, from pit to port is boosting the market growth.
Fully connected mines enable operators to facilitate and troubleshoot operations at multiple sites using autonomous controls for mining vehicles and their critical functions such as ignition, steering, transmission, acceleration, braking, etc. Mining vehicles such as excavators, trucks and bulldozers can be remotely controlled via hand-held devices used on-site to operate unmanned equipment in dangerous blast zones, underground mines, or on unstable ground. Connected mining protects workers through location tracking, remote operations and monitoring of hazardous work areas. It also reduces risk, improve compliance and enhance security with environmental, physical, and cyber safety measures.
Connected mining solutions Improve employee safety, protect valuable assets, and reduce energy costs with real-time visibility, monitoring, and ventilation control. For instance, Cisco’s Mine Asset Visibility solution lets you always track personnel. It responds to emergencies immediately, locate your equipment fast, and manage your energy usage in underground mines with ventilation-on-demand. In addition, connected mining equipment and systems improve safety, productivity and efficiency by offering operators capabilities such as: remote control of assets, teleoperation of vehicles and tools, real-time video inspection and training, predictive maintenance, and more. Mining companies have made substantial investments in Operational Technology (OT) to gather data from their operations, measuring and monitoring things such as vehicle movements, driver fatigue, slope condition, weather data, etc. However, these systems typically operate in isolation and are only visible in the mining control center, requiring a great deal of experience to make sense of the many screens with user interface. Furthermore, artificial intelligence is emerging as an advanced and practical technologies, AI is enabling mining companies to become insight?driven enterprises that utilize data to derive key benefits.
The global market for connected mining 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. Different businesses concentrate on organic tactics such as launches of products, product licenses, trademarks and activities Acquisitions and cooperation & partnerships became inorganic growth plan practices observed in the sector. Such operations have opened the way for industry leaders to grow their company and customer base. In the future, with the growing need for food safety, and fast-food trends in the global economy, market players from the connected mining market are anticipated to have lucrative growth prospects. With the demand for end-user experience tracking in the global markets, industry payers from end-user experience surveillance are expected to achieve lucrative growth prospects in the future.
Segment Overview of 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, 2018-2028 (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