DUBLIN--(BUSINESS WIRE)--The "Connected Mining Market By Component, By Deployment Mode, By Organization size, By Mining Type, By Application: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
According to this report the connected mining market was valued at $9.45 billion in 2021, and is estimated to reach $32.63 billion by 2031, growing at a CAGR of 13.3% from 2022 to 2031.
Connected mining refers to next generation of land mines designs that combine surface and underground mining for increased effectiveness in mining resource extraction and management.
It reduces risks and protect intellectual & physical property, production integrity, plant assets, and people with industrial security technologies for operational technology (OT). It provides extremely secure information protocol and multi-service network to monitor geotechnical, surface movement, identifying errors and natural geological movement in the mines.
It comprises various systems and solutions, including operational data processing and analytics, logistics, safety & security systems smart assets and remote management solutions. It is deployed on the machines used for mining operations and provide various advantageous, such as eliminates manual process and improves accuracy & productivity by reduction of approval process. In addition, it provides industries with flexibility and scalability to enable a smooth integration of business operation, which ultimately support the market growth.
Factors such as increase adoption of internet of things (IoT) and increase in investment in simulation technology drive the growth of the market. In addition, increase in adoption of artificial intelligence, data science and automation technologies accelerate connect mining.
This is expected to propel the growth of the market in the upcoming years. Furthermore, industries are moving toward digitalization with the adoption of emerging technology such as 5G to enhance business operation. This is expected to provide lucrative growth opportunities for the market during the forecast period. However, shortage of technically skilled employees and increase in operational costs and productivity challenges hamper the growth of the market.
Key Benefits
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the connected mining market analysis from 2021 to 2031 to identify the prevailing connected mining market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the connected mining market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global connected mining market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Component
- Solution
- Services
By Deployment Mode
- On-Premise
- 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
- United Kingdom
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- ABB Ltd.
- Accenture
- Cisco Systems Inc.
- Hexagon
- IBM Corporation
- Rockwell Automation Inc.
- SAP SE
- Schneider Electric
- Siemens AG
- Trimble Inc.
For more information about this report visit https://www.researchandmarkets.com/r/qchf6x
