LONDON--(BUSINESS WIRE)--Technavio has been monitoring the connected mining market and it is poised to grow by USD 17.02 billion during 2020-2024, progressing at a CAGR of almost 21% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions-
- What was the value of the connected mining market in 2019?
- Technavio says that the value of the market was USD 10.94 billion in 2019 and it is projected to reach USD 27.96 billion by 2024.
- At what CAGR is the market projected to grow during the forecast period 2020-2024?
- Growing at a CAGR of almost 21%, the market growth will accelerate in the forecast period of 2020-2024.
- What is the key factor driving the market?
- The increasing availability of advanced aerial imagery and technological improvements in automated mining equipment are the key factors driving the market growth.
- Who are the top players in the market?
- ABB Ltd., Accenture Plc, Caterpillar Inc., Cisco Systems Inc., Hexagon AB, Hitachi Construction Machinery Co. Ltd., Komatsu Ltd., Rockwell Automation Inc., Telefonaktiebolaget LM Ericsson, and Trimble Inc. are some of the major market participants.
- Which region is expected to hold the highest market share?
- North America
- What is the year-over-year growth rate of the global market?
- The year-over-year growth rate for 2020 is estimated at 20.13%.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Accenture Plc, Caterpillar Inc., Cisco Systems Inc., Hexagon AB, Hitachi Construction Machinery Co. Ltd., Komatsu Ltd., Rockwell Automation Inc., Telefonaktiebolaget LM Ericsson, and Trimble Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The increasing availability of advanced aerial imagery has been instrumental in driving the growth of the market.
Connected Mining Market 2020-2024: Segmentation
Connected Mining Market is segmented as below:
- North America
- South America
- Surface Mining
- Underground Mining
- Automated Equipment
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Connected Mining Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our connected mining market report covers the following areas:
- Connected Mining Market size
- Connected Mining Market trends
- Connected Mining Market analysis
This study identifies technological improvements in automated mining equipment as one of the prime reasons driving the connected mining market growth during the next few years.
Connected Mining Market 2020-2024: Vendor Analysis
We provide a detailed analysis of vendors operating in the connected mining market, including some of the vendors such as ABB Ltd., Accenture Plc, Caterpillar Inc., Cisco Systems Inc., Hexagon AB, Hitachi Construction Machinery Co. Ltd., Komatsu Ltd., Rockwell Automation Inc., Telefonaktiebolaget LM Ericsson, and Trimble Inc. Backed with competitive intelligence and benchmarking, our research reports on the connected mining market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Connected Mining Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist connected mining market growth during the next five years
- Estimation of the connected mining market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the connected mining market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of connected mining market vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type
- Surface mining - Market size and forecast 2019-2024
- Underground mining - Market size and forecast 2019-2024
- Market opportunity by Type
Market Segmentation by Category
- Market segments
- Comparison by Category
- Automated equipment - Market size and forecast 2019-2024
- Component - Market size and forecast 2019-2024
- Market opportunity by Category
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher priced units
- Market challenges
- Market trends
- Vendor Analysis
- Vendors covered
- Market positioning of vendors
- ABB Ltd.
- Accenture Plc
- Caterpillar Inc.
- Cisco Systems Inc.
- Hexagon AB
- Hitachi Construction Machinery Co. Ltd.
- Komatsu Ltd.
- Rockwell Automation Inc.
- Telefonaktiebolaget LM Ericsson
- Trimble Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.