LONDON--(BUSINESS WIRE)--Technavio has been monitoring the globally connected mining market, operating under the information technology industry. The latest report on the connected mining market, 2020-2024 estimates it to register an incremental growth of by USD 17.02 billion, 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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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage on the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. 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 among some of the major market participants.
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The increasing availability of advanced aerial imagery has been instrumental in driving the growth of the market.
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Connected Mining Market 2020-2024: Segmentation
Connected Mining Market is segmented as below:
- North America
- South America
- Surface Mining
- Underground Mining
- Automated Equipment
Based on geographic segmentation, over 35% of the market’s growth originated from North America during the forecast period. In addition, the surface mining segment led the growth under the type segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the market size.
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. The connected mining market report covers the following areas:
- Connected Mining Market Size
- Connected Mining Market Trends
- Connected Mining Market Industry Analysis
This study identifies the technological improvements in automated mining equipment as one of the prime reasons driving the Connected Mining Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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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 focus 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.