The comprehensive and significant market research study on Connected Mining offers business strategies, qualitative and quantitative analyses, and emerging trends. The report provides in-depth examination and analysis of the key elements of the global Connected Mining Market. By conducting extensive primary and secondary research and analysing the drivers, constraints, challenges, trends, and opportunities of the Connected Mining Market, the research analysts created this report.
The global connected mining market size reached USD 12.60 Billion in 2022 and is expected to register a revenue CAGR of 12.3% during the forecast period, according to latest analysis by Emergen Research. Government initiatives and digital transformation are factors driving the revenue growth of the connected mining market. Government initiatives, such as investment in smart cities, infrastructure development, and the implementation of Industry 4.0, can drive the growth of the connected mining market by rising demand for connected mining equipment and technology. In addition, government policies promoting the use of connected technology in the mining industry can also contribute to market revenue growth.
The adoption of digital technologies such as automation, the Internet of Things (IoT), and data analytics in the mining industry can improve operational efficiency, increase productivity, and reduce costs. This can lead to inclined demand for connected mining equipment and technology, driving revenue growth in the market. In addition, digital transformation can also enable real-time monitoring, predictive maintenance, and improved decision-making, further enhancing the performance of mining operations.
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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
The leading market contenders listed in the report are:
ABB Ltd, Accenture plc, Cisco Systems, Inc., Hexagon AB, IBM Corporation, Rockwell Automation, Inc, SAP SE, Schneider Electric SE, Siemens AG, and Trimble Inc
Target Audience of the Global Connected Mining Market Report:
- Key Market Players
- Investors
- Venture capitalists
- Small- and medium-sized and large enterprises
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- Global market producers, distributors, traders, and suppliers
- Research organizations, consulting companies, and various alliances interested in this sector
- Government bodies, independent regulatory authorities, and policymakers
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Major Geographies Analyzed in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Market Segmentations of the Connected Mining Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2032. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Connected Mining market on the basis of product, application, and region:
Segments Covered in this report are:
- Component Outlook (Revenue, USD Billion; 2019-2032)
- Solutions
- Services
- Application Outlook (Revenue, USD Billion; 2019-2032)
- Exploration
- Processing and Refining
- Transportation
- Deployment Mode Outlook (Revenue, USD Billion; 2019-2032)
- On-Premises
- Cloud
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Some Key Highlights From the Report
- The solutions segment accounted for a significant revenue share in 2022. The connected mining solution combines mobile, cloud, and analytics technologies to enhance the management of in-pit operations for mining companies. It features a mobile application that mining supervisors can access and use to receive valuable insights and decision support tools, no matter where they are located or when they need it. The solution uses rules (from the cloud architecture) to notify users through SMS, email, or in-app alerts of events, trends, or other changes. This enables mine supervisors to respond to pressing issues and increase productivity. In addition, the system uses powerful data analytics to the raw data to provide insights, visualizations, and specialized suggestions that are sent to consumers via their mobile phones or tablets in almost real-time.
- The exploration segment accounted for the largest revenue share in 2022. In exploration, connected mining can be used to gather data from various sources, such as geological surveys, drilling results, and sensor readings, and use that data to create detailed models of mineral deposits. This can help mining companies identify new areas to explore, optimize drilling and blasting operations, and improve the overall efficiency of their exploration efforts. In addition, connected mining can also be used to remotely monitor and control mining equipment, providing valuable insights into equipment performance and maintenance needs.
- On-premises segment revenue is expected to register the largest share over the forecast period. One of the main advantages of on-premises connected mining is the increased security and control over the data. Since the data is stored and processed within the mining company’s infrastructure, the company has full control over who has access to the data and how it is used. This is particularly important for mining companies that have sensitive data, such as geological data or proprietary processes. Another advantage of on-premises connected mining is that it can be more cost-effective for mining companies with large amounts of data. Since the data is stored and processed within the mining company’s infrastructure, the company does not have to pay for the storage and processing power required to handle large amounts of data.
- The connected mining market in North America is expected to register largest revenue share over the forecast period. Connected mining is becoming increasingly popular in North America, as mining companies in the region seek to improve efficiency, reduce costs, and improve safety. In the U.S., the mining industry has been investing in digital technologies such as IoT, Artificial Intelligence (AI), and data analytics to improve operations, and this trend is expected to continue. One example of connected mining in North America is the use of IoT technology to monitor and control mining equipment in real-time. This allows mining companies to identify and address potential maintenance issues before they become a problem, reducing downtime and maintenance costs. Another example is the use of data analytics to optimize drilling and blasting operations, improve the efficiency of truck and shovel operations, and better understand ore characteristics. North American mining companies are also investing in automation and robotics to improve the efficiency and safety of mining operations. For example, companies are using autonomous vehicles to transport ore and waste, and robots to perform tasks such as drilling, blasting, and maintenance.
Additional information offered by the report:
- Along with a complete overview of the global Connected Mining market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
- The report elaborates on the global Connected Mining market size and share governed by the major geographies.
- It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
- It further presents a detailed description of the company profiles of the key market contenders.
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