Connected Mining Market size worth $ 28.1 Billion, Globally, by 2030 at 12.7% CAGR: Verified Market Research®

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Jul 20, 2022, 11:15 ET

The presence of several key players in the ecosystem has led to a competitive and diverse market. Mining 4.0 initiatives in industries are paving the way for Connected Mining Market.

JERSEY CITY, N.J., July 20, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Connected Mining Market" By Component (Services, Solution), By Deployment Type (Cloud, On-Premise), and By Geography. According to Verified Market Research, the Connected Mining Market size was valued at USD 12.1 Billion in 2021 and is projected to reach USD 28.1 Billion by 2030, growing at a CAGR of 12.7% from 2022 to 2030.

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Browse in-depth TOC on "Connected Mining Market"

202 - Pages
126 – Tables
37 – Figures

Global Connected Mining Market Overview

The increasing adoption of Mining 4.0 to remodel the mining method has been redoubled. To resolve the challenges sweet-faced by the mining industries from the 17th century, like the safety of mine workers, sustainability, and onsite and underground decision-making, numerous technological developments are exhausted over the previous few decades and these days mining firms are heavily invested in implementing Mining 4.0 solutions. Industry 4.0 permits Mining 4.0, which is concerned with huge information, IoT, 5G, cloud, and AI technologies to integrate operations within the mining trade. Industries strategies are enforced mistreatment code Development Lifecycle (SDLC) method at mining firms to attach systems and assets like producing units, grinding, exploration plant, mine operators, back-office team, and ERP.

With the fast advancements in technologies, there is an increase in digital solutions and therefore the demand for connected devices and IoT systems. This huge rise in the adoption of digital solutions has boosted the expansion of the Connected Mining Market. The mining trade is apace adopting digitalized solutions during this technological era. IoT, AI, and cloud technologies are apace adopted by mining firms to survive and accomplish high productivity targets during this competitive era. Growing investment in IT infrastructure, virtual sensors, and AI tools is increasing opportunities in this market. Digital solutions provided by numerous firms alter mine operators to trace the health of assets, time period visibility, prophetical maintenance on the surface, and underground mining. New rising trends of trade 4.0 is boosting the adoption of technologies like cloud computing, IoT, cybersecurity, big data, autonomous robots, additive production, and AR to support the digital transformation of mining operations.

Key Developments

November 2021: Hexagon introduced the Power of One, a unified technology platform and partnership, which connects all parts of the mine. The Power of One is Hexagon's set of solutions that connects all processes of a mine from the pit to the plant. It happens through a platform that connects all sensors and software with an intelligent monitoring system that can be accessed from the field to the cloud.
October 2021: Komatsu teamed up with Proterra, an innovative company developing commercial vehicle electrification technology. The collaboration aimed to electrify the next-generation underground mining equipment utilizing Proterra's battery technology.

Key Players

The major players in the market are ABB (Switzerland), IBM (US), SAP (Germany), Cisco (US), Schneider Electric (France), Komatsu (Japan), Hexagon (Sweden), Caterpillar (US), Rockwell Automation (US), Trimble (US), Siemens (Germany), Howden (Scotland), Accenture (Ireland), PTC (US), Hitachi (Japan).

Verified Market Research has segmented the Global Connected Mining Market On the basis of Component, Deployment Type, and Geography.

Connected Mining Market, By Component

Solution
Services

Connected Mining Market, By Deployment Mode

On-Premise
Cloud

Connected Mining Market, by Geography

North America

U.S
Canada
Mexico

Europe

Germany
France
U.K
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

ROW

Middle East &
AfricaLatin America

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