Global Connected Mining Market Size study & Forecast, by Component (Solution, Services), by Deployment Mode (On-Premises, Cloud), by Organization size (Large Enterprises, SME's), by Mining Type (Surface, Underground), by Application (Exploration, Processi

Global Connected Mining Market Size study & Forecast, by Component (Solution, Services), by Deployment Mode (On-Premises, Cloud), by Organization size (Large Enterprises, SME's), by Mining Type (Surface, Underground), by Application (Exploration, Processing and Refining, Transportation) and Regional Analysis, 2022-2029

Global Connected Mining Market is valued at approximately USD 11.21 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 13.3% over the forecast period 2022-2029. Connected Mining refers to the use of connected solutions such as industrial IoT, big data, analytics, and simulation technology in mining operations. Moreover, these technologies are used for increasing the visibility and effectiveness of mining operations. IoT-enabled devices fixed & mobile sensors are used for extracting real-time data across the mining operations. The application of connected mining solutions offers different benefits including improvement in operator and equipment handling, the optimized cost in mining operations, offers real-time embedded intelligence and improved workforce safety among others. The increasing growth of mining activities and growing adoption of internet of things (IoT) devices as well as recent strategic initiatives from market players are key factors driving the market growth.

The increasing growth of mining activities is contributing to the growth of the Global Connected Mining Market. For instance, as per Press Information Bureau (PIB) estimates- in May 2022, the coal ministry of, the Government of India announced to increase in domestic coal production to 1.2 billion metric tons by FY 23-24 from the current level of 778.19 million metric tons. Moreover, the increasing adoption of Internet of Things (IoT) technologies in the mining sector is also accelerating the market growth. For instance, as per Statista – in 2021, the global smart mining industry had a market valued at USD 9.3 billion, it is projected to grow to a market value of USD 28.1 billion by 2027. Also, the growing adoption of 5G technologies across the regions and rising investment in simulation technology would create lucrative growth prospects for the market over the forecast period. However, high deployment costs associated with connected mining solutions and lack of technical expertise stifle the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Connected Mining Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of leading market players and growing digitization across the mining sector in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising growth in mining activities and increasing penetration of leading market players in the region.

Major market player included in this report are:
ABB Limited
Accenture Plc
Cisco Systems Inc.
Hexagon AB
International Business Machines Corporation,
Rockwell Automation Inc.
SAP SE
Schneider Electric SE
Siemens AG
Trimble Inc.

Recent Developments in the Market:
 In March 2019, ABB Limited has launched its new mining solution named ABB Ability MineOptimize in Indian Market. This new Ability MineOptimize portfolio is comprised of optimized electrification, drives and automation solutions, optimized engineering, digital applications, and collaborative services.

Global Connected Mining Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Component, Deployment Mode, Organization Size, Mining Type, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component
Solution
Services
By Deployment Mode
On-Premises
Cloud
By Organization size
Large Enterprises
SME's
By Mining Type
Surface
Underground
By Application
Exploration
Processing and Refining
Transportation
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned

ABB Limited
Accenture Plc
Cisco Systems Inc.
Hexagon AB
International Business Machines Corporation,
Rockwell Automation Inc.
SAP SE
Schneider Electric SE
Siemens AG
Trimble Inc.

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