Connected mining market: product innovation and optimization

Connected mining market

The global connected mining market size is expected to reach $21. 9 billion by 2028, rising to a market growth of 11.8% CAGR during the forecast period.

Connected Mining is the next generation land mining system that combines surface and underground mining for increased efficiency in mining resource extraction and administration.

The growing demand for improved safety and security measures for mine workers is propelling the industry forward. By monitoring and communicating with integrated systems in real time, connected mining enables companies to increase production capabilities. It also enables predictive maintenance, which includes monitoring on-site costs and resource usage through digital monitoring controls.

Another growth area is the integration of Industrial Internet of Things (IIoT), big data and cloud computing technologies with mining equipment.

Based on components, the market is segmented into solutions and services. On the basis of solution type, the market is segmented into asset tracking and optimization, industrial safety and security, fleet management, workforce management, analytics and reporting, and others.

Download a sample report (Get full information in PDF format – 315 pages) at: https://www.alliedmarketresearch.com/request-sample/17372

The services segment observed a substantial revenue share in the connected mining market in 2021. Support and maintenance services, consulting services, and system integration services are examples of professional services.

Consulting services typically focus on managing business operations revolution programs and the latest technology updates to help clients achieve strategic business goals through technology and business improvements.

Integration is the process of linking many subsystems or components into a larger system so that it can function as a single IoT system. Integration and deployment services combine various technology products and applications, including legacy platforms, to reduce IT challenges and increase a company’s return on investment.

Based on application, the market is segmented into exploration, processing & refining, and transportation. The transportation segment has secured a promising revenue share in the connected mining market in 2021.

Some mining companies are already using autonomous trucks and trains that can be tracked and operated remotely. In addition to enabling efficient transport of materials and allowing personnel to focus on other activities, autonomous transport has the potential to improve safety.

Transportation accidents are a big threat to the safety of miners. Autonomous transport can solve this problem.

Access the full summary at: https://www.alliedmarketresearch.com/connected-mining-market-A16984

Based on deployment mode, the market is segmented into on-premises and cloud. The cloud segment recorded a major revenue share in the connected mining market in 2021.

Industries are gradually migrating their on-premises storage to the cloud, due to the increased efficiency of work processes and storage capacity provided by cloud services. An organization’s capital and operating costs can be reduced by using the cloud. With no internal server application and storage requirements, it saves significant capital expenditure.

Based on mining type, the market is segmented into surface and underground. The surface mining segment acquired the largest revenue share of the connected mining market in 2021. Surface mining is a type of mining that extracts minerals and ores that are near the Earth’s surface.

Additionally, surface mining is the deliberate removal of the outer layers of rock from the earth to obtain ore reserves. This type of mining is used in the majority of mining projects because it is relatively more profitable, simple to manage and less dangerous.

Mountaintop Removal (MTR), surface mining, surface mining, dredging, and high wall mining are all examples of surface mining. The most common type of mining technology is surface mining, which is used to extract ores near the surface. Mineral resources are extracted from water sources such as rivers, lakes and the ocean.

Based on regions, the market is segmented into North America, Europe, Asia-Pacific and Latin America, Middle East & Africa. APAC region acquired the maximum revenue share in the connected mining market in 2021.

For report customization: https://www.alliedmarketresearch.com/request-for-customization/17372

China, Indonesia, India, the Philippines and Papua New Guinea (PNG) are likely to lead the industry in the Asia-Pacific region, with China the most promising player in mining efforts smart. Due to the country’s growing demand for minerals, India can be seen as the next high-potential preference for the world’s leading suppliers in the mining industry.

Investment projects stimulate the development of industrial capacity in the region. The adoption of technologies such as remote monitoring, operational analytics and data processing, and mine safety systems is high in this region.

The major strategies followed by market players are partnerships. Based on the analysis presented in the cardinal matrix; Cisco Systems, Inc. and Siemens AG are pioneers of the connected mining market. Companies such as IBM Corporation, SAP SE and ABB Group are among the leading innovators in the market.

The market research report covers the analysis of major market players. Key companies profiled in the report include ABB Group, IBM Corporation, SAP SE, Cisco Systems, Inc., Schneider Electric SE, Komatsu Ltd., Hexagon AB, Caterpillar, Inc., Rockwell Automation, Inc., and Siemens AG.

Buy this report on: https://www.alliedmarketresearch.com/checkout-final/4cecbbe87e6c7c39c848997e025f9613

Thank you for reading this article; you can also get individual chapter wise section or region wise report versions like North America, Europe or Asia.

If you have any special requirements, please let us know and we will offer the report according to your needs.

Finally, this report provides market insights in the most comprehensive way. The structure of the report has been kept to provide maximum business value. It provides essential insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those looking to enter the market.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
The Web: https://www.alliedmarketresearch.com
Follow us on: LinkedIn Twitter

About Us:

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market areas.

Pawan Kumar, CEO of Allied Market Research, leads the organization in delivering high quality data and insights. We are in professional business relationship with various companies. It helps us to extract market data which helps us to generate accurate research data tables and confirm utmost accuracy in our market predictions. All data companies in the domain are affected. Our secondary data sourcing methodology includes in-depth insights presented in the reports we publish, drawn from primary interviews with senior online and offline research leaders and discussions with relevant industry professionals and analysts.

This press release was published on openPR.

About William J. Harris

Check Also

Coal India takes a look at underground mining and uses punch entry to extract more from surface mines

PSU Coal India (CIL) miner is looking into underground (UG) mining, aiming to take over …