Connected Mining Market by System and Solution (Operational Data Processing and Analytics, Smart Assets, Smart Logistics, Smart Control Systems, Smart Safety and Security System, and Remote Management Solution), Service (Consulting, System Integration, and Support and Maintenance), Method (Surface Mining and Underground Mining), and Geography: Global Market Size Estimates and Forecast (2022-2030)

The market crossed US$ 13.2 billion mark in 2022 and is expected to hit US$ 30.7 billion by 2030, recording a CAGR of 11.1% during the forecast period.

Mining 4.0 initiatives in industries is paving the way for connected mining market 

Growing adoption of Mining 4.0 has been transforming the mining process which has  been experincing a growth. To resolve the problems  faced by the mining industries during 17th century, such as sustainability of equipment,  safety of mine workers, underground decision-making and sand onsite, various technological developments have been adopted  in the last few years, and today mining companies are increasingly investing in implementing Mining 4.0 solutions. Industry 4.0 enables Mining 4.0, which is associated with big data,5G, cloud, IoT,  and AI technologies to integrate  operations in the industry. Industry 4.0 methods are using Software Development Lifecycle (SDLC) process at mining companies to connect systems and assets such as grinding, exploration plant, mine operators, manufacturing unit, back-office team, and ERP. The rapid advancements in technologies, there is a rise in demand for connected devices and IoT systems and digital solutions. This rapid increase in the adoption of digital solutions has boosted for the growth of the connected mining market.

Within the report, the market is segmented into System and Solution, Service, Method, and geography. The market is further segmented by system and solution: Operational Data Processing and Analytics, Smart Assets, Smart Logistics, Smart Control Systems, Smart Safety and Security System, Remote Management Solution. Based on service, the market is segmented into Consulting, System Integration, Support and Maintenance. The Method categorizes the market as Surface Mining, Underground Mining. Geographically, the market is sub-regions- North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Connected Mining Market is Experiencing a Rise in Demand For Digitalization.

The mining industry is widely adopting digitalized solution. IoT, AI, cloud technologies are inceasingly  adopted by mining companies to achieve high productivity target and gain a competitive edge in the market. Increasing  investment in  virtual sensor, and AI tool ,IT infrastructure,is gaining opportunities in this market. Digital solutions provided by various companies enable mine operators to track real-time visibility, predictive maintenance in the surface,  health of assets, and underground mining. New emerging trends of Industry 4.0 is boosting the use of technologies such as big data, autonomous robots, additive manufacturing, cloud computing, IoT, cybersecurity,  and AR to support digital transformation of mining operations. Transformation of mines digitally is connecting all the asset, equipment, and workforce and also inturn  supports communication between mine operators leading to the increasie in life cycle of asset by regularly monitoring of asset health. Various companies have seen a rapid growth with the adoption of digital solutions; for example, Exxro has colloborated with Aviva to adopt digital solutions of the company to manage its mining operations and solve the challenges related to digital transformation.

Rising Adoption of Simulation Technology is One of the Major Factors Accelerating Market Growth.

Enterprises are regularly looking for advanced and latest technologies and innovations to reduce operating costs and enhance productivity, simulator system in the market is one of the advanced innovation which is accelerating market growth. Many operators are increasingly adopting the use of simulation technology in order to enhance their core fundamental performance. For example South Africa based company named Throughtec Simulations offers cybermine training simulators which are increasingly being viewed as sound investment and an integral part of mine operations.

Recent strategic developments in the connected mining market

The market has undergone several significant developments, and a few of these have been mentioned below:

• In February 2022, Accenture launched an Enterprise and Supplier Development Marketplace Platform that  focuses on the mining supply chain. The platform was developed in integration with Adapt Digital Solutions and with the Ministry of Mining, Resources and Energy (DMRE) oi  order to  bridge the gap between mining companies and Small and Medium-sized Enterprises (SMEs)

• In November 2021, The recent version of Trimble Access, v2021.20, introduces new scanning features and functionalities and critical usability updates to the Mines application.
• In November 2021, Hexagon launched  the Power of One, a unified technology platform and partnership, which connects all parts of the mine. It works through a platform which connects all sensors and software with an intelligent monitoring system that can be accessed from the field to the cloud.

Several players drive the connected mining market by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. ABB Ltd., Alastri, Caterpillar Inc., Cisco Systems, Inc., Hexagon AB, Intellisense.Io, Rockwell Automation Inc., SAP SE, Telefonaktiebolaget LM Ericsson,Trimble Inc. are among the prominent players operating in the market.

The target audience for the report:

• Connected mining contractors
• Connected mining service providers
• Connected mining -related associations, organizations, forums, and alliances
• Venture capitalists, private equity firms, and start-up companies
• Connected mining component suppliers
• Connected mining and components distributors and sales firms
• End users of Connected mining
• Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented based on:

• System and Solution:

• Operational Data Processing and Analytics
• Smart Assets
• Smart Logistics
• Smart Control Systems
• Smart Safety
• Security System
• Remote Management Solution

• Based on service  :

• Consulting
• System Integration
• Support
• Maintenance

• Based on Method:

• Surface Mining
• Underground Mining

 Companies profiled

• • ABB Ltd.
  •  Alastri
  •  Caterpillar Inc.
  •  Cisco Systems, Inc.
  •  Hexagon AB
  •  Intellisense.Io
  •  Rockwell Automation Inc.
  •  SAP SE
  •  Telefonaktiebolaget LM Ericsson
  •  Trimble Inc.

Companies profiled
- ABB Ltd.
- Alastri
- Caterpillar Inc.
- Cisco Systems, Inc.
- Hexagon AB
- Intellisense.Io
- Rockwell Automation Inc.
- SAP SE
- Telefonaktiebolaget LM Ericsson
- Trimble Inc.