Connected Mining Market 2023: Size (US$ 21.7 Billion), Outlook, Industry Share, Growth (CAGR 12.4%), Analysis, Report 2028

Published February 7, 2023

The latest report by IMARC Group, titled “Connected Mining Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global connected mining market. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global connected mining market size reached US$ 10.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 21.7 Billion by 2028, exhibiting a growth rate (CAGR) of 12.4% during 2023-2028.

Connected mining is an essential component of mining resource management and extraction. Its implementation is pertinent in speeding up the entire mining process with the assistance of workers while ensuring their safety at the highest level. This design integrates surface and underground mining to provide improved solutions to manage various applications, which may include safety, dispatch, telemetry, voice and video across a reliable and secure network. This can be achieved by the usage of secure IP and multi-service networks, along with the aid of smart assets, logistics, control systems, remote management solutions, operational data processing and analytics, and safety and security systems. These solutions further result in significantly reduced production costs with real-time visibility of assets and optimum operating efficiency for an extended duration of time.

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Global Connected Mining Market Trends:

The global market is primarily driven by considerable growth in the mining sector across the globe. Along with this, the integration of advanced technologies and the Internet of Things (IoT) in the industry has provided a boost to the overall functionality and efficiency of the sector while enhancing the cost-effectiveness of the entire process, which, in turn, is creating a positive outlook for the market. There has also been a rising demand for enhanced safety and security of mine workers on the global level. Since the deployment of connected mining solutions enables players to enhance their production capacities by allowing real-time monitoring and communications with integrated systems over a reliable connected network, this is providing an impetus to the market growth. The market is further driven by the incorporation of predictive maintenance with these solutions.

This integration results in improved system reliability while offering on-site cost monitoring and utilization of resources via digital tail monitoring control tools. Predictive maintenance further assists in minimizing the overall cost of resource maintenance and improving the overall security solutions provided by in-ground sensors. Some of the other factors contributing to the market growth include the increasing employment of big data and cloud computing solutions in the mining sector and the launch of design flexible platforms and software that are anticipated to gain widespread prominence among the end users.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.

Some of these key players include:            

  • ABB Group
  • Accenture Plc
  • Alastri
  • Cisco Systems Inc.
  • Hexagon AB
  • Io
  • Rockwell Automation
  • SAP SE
  • Symboticware Inc.
  • Trimble Inc

Key Market Segmentation:

Breakup by Component:

  • Equipments
  • Software
  • Services

Equipment Breakup by Type:

  • Automated Mining Excavators
  • Load Haul Dump
  • Drillers and Breakers
  • Others

Software and Services Breakup by Type:

  • Data/Operations/Asset Management and Security Software
  • Support and Maintenance Services
  • System Integration and Deployment Services
  • Others

Breakup by Mining Type:

  • Surface Mining
  • Underground Mining

Breakup by Solution Type:

  • Connected Assets and Logistics Solutions
  • Connected Control Solutions
  • Connected Safety and Security Solutions
  • Remote Management Solutions
  • Others

Breakup by Region:    

  • North America (United States, Canada)
  • Asia Pacific (Germany, France, United Kingdom, Italy, Spain, Others)
  • Europe (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • COVID-19 Impact on the Market
  • Porter’s Five Forces Analysis
  • Historical, Current and Future Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Structure of the Market
  • Value Chain Analysis
  • Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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