Global Connected Mining Market is valued at approximately USD 11.21 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 13.3% over the forecast period 2022-2029. Connected Mining refers to the use of connected solutions such as industrial IoT, big data, analytics, and simulation technology in mining operations. Moreover, these technologies are used for increasing the visibility and effectiveness of mining operations. IoT-enabled devices fixed & mobile sensors are used for extracting real-time data across the mining operations. The application of connected mining solutions offers different benefits including improvement in operator and equipment handling, the optimized cost in mining operations, offers real-time embedded intelligence and improved workforce safety among others. The increasing growth of mining activities and growing adoption of internet of things (IoT) devices as well as recent strategic initiatives from market players are key factors driving the market growth.

The increasing growth of mining activities is contributing to the growth of the Global Connected Mining Market. For instance, as per Press Information Bureau (PIB) estimates- in May 2022, the coal ministry of, the Government of India announced to increase in domestic coal production to 1.2 billion metric tons by FY 23-24 from the current level of 778.19 million metric tons. Moreover, the increasing adoption of Internet of Things (IoT) technologies in the mining sector is also accelerating the market growth. For instance, as per Statista - in 2021, the global smart mining industry had a market valued at USD 9.3 billion, it is projected to grow to a market value of USD 28.1 billion by 2027. Also, the growing adoption of 5G technologies across the regions and rising investment in simulation technology would create lucrative growth prospects for the market over the forecast period. However, high deployment costs associated with connected mining solutions and lack of technical expertise stifle the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Connected Mining Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of leading market players and growing digitization across the mining sector in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising growth in mining activities and increasing penetration of leading market players in the region.

Major market players included in this report are:

ABB Limited

Accenture Plc

Cisco Systems Inc.

Hexagon AB

International Business Machines Corporation,

Rockwell Automation Inc.

SAP SE

Schneider Electric SE

Siemens AG

Trimble Inc.

Recent Developments in the Market:

In March 2019, ABB Limited has launched its new mining solution named ABB Ability MineOptimize in Indian Market. This new Ability MineOptimize portfolio is comprised of optimized electrification, drives and automation solutions, optimized engineering, digital applications, and collaborative services.
Global Connected Mining Market Report Scope:

Historical Data: 2019-2020-2021

Base Year for Estimation: 2021

Forecast period: 2022-2029

Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends

Segments Covered: Component, Deployment Mode, Organization Size, Mining Type, Application, Region

Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World

Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component

Solution

Services

By Deployment Mode

On-Premises

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

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

RoLA

Rest of the World