Connected Mining Market overview:
In a recent research report by Market Research Industry, the Connected Mining Market is expected to surpass USD 21.7 Billion by the year 2028, from USD 9.51 Billion in 2021.
The next-generation land mine system, known as connected mining market, combines surface and underground mining to extract and manage mining resources more effectively. Moreover, connected mining boost productivity, protects workers, reduced overall production cost, and enhances production efficiency.
By Application, the segment is categorized into Exploration, Processing, and Refining, Transportation. The exploration segment is anticipated to lift the growth of the application segment in the connected mining market. The factor responsible for the growth of the market is the rapidly adopting of technological, automotive, and digitalized solutions by the mining industries
Asia Pacific is estimated to grow at the highest CAGR during the forecast period in the connected mining market. In the Asia Pacific area, China is expected to lead the region, followed by Indonesia, India, the Philippines, and Papua New Guinea (PNG). Further, China is the most promising contributor in terms of smart mining initiatives. India might be considered the next high-potential option for the top global-linked mining industry suppliers due to the country's increasing mineral demand.
The study is consolidated into major segments and further into sub-segments, such as by Component (Solutions, Services), Solution (Asset Tracking and Optimization, Fleet Management), Service (Professional, Managed), Mining Type (Surface, Underground), Deployment Mode (On-premises, Cloud), Application, (Exploration, Processing, and Refining, Transportation), to forecast the Connected mining market size by value; also includes the analysis of past market dynamics from 2016 – 2021, considering 2021 as the base year.
The market is projected to grow at a significant pace reaching a CAGR of approximately 12.5%, over the forecast period of 2022–2028, despite a considerable fall in product sales during the initial phase of pandemic spread and lockdown restrictions imposed globally.
Lastly, the report includes a regional analysis and country analysis with the latest trends, along with the major key players including- ABB, IBM, SAP, Cisco, Schneider Electric, Komatsu, Hexagon, Caterpillar, Rockwell Automation, Trimble, Siemens, Howden, Accenture, PTC, Hitachi, Eurotech Communication, Wipro, MST Global, GE Digital, Symboticware, Getac, IntelliSense.io, Zyfra, Axora, GroundHog, SmartMining SpA, and Applied Vehicle Analysis.
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