Connected Mining Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Solution (Connected Logistics, Connected Resources, Connected Security System, Connected Control System, Connected Remote Management Solution), By Service (Consulting, Support And Maintenance, System Integration), And By Geography - Forecasts From 2021 To 2026

Published:  Aug 2021 Report Code: KSI061610911 Pages: 114

The connected mining market is projected to witness a CAGR of 15.76% during the forecast period to reach a total market size of US$15.592 billion by 2026, increasing from US$5.597 billion in 2019.

Connected mining encompasses variously integrated and, associated mining solutions whereby people, processes, big data, types of equipment, and environment play in the digital transformation of the mining industry. The main players in the connected mining market include different types of companies, ranging from specialized independent technology suppliers of varying sizes up to the leading mining equipment manufacturers. As the industry envisions improving efficiency and worker safety, several technology trends have emerged. Building necessary communications for working the mines with applications and systems such as sensors and surveillance systems will transform the overall performance. A World Bank Release of 2020 has projected that the production of minerals, such as graphite, lithium, and cobalt, could increase by nearly 500% by 2050, to meet the growing demand for clean energy technologies. This arises a need for an integrated mining market equipped with digital transformation.

connected mining Market, US$ Billion, 2019 to 2026

(SAMPLE FIGURE)

Source: Knowledge Sourcing Intelligence Analysis

Geographically, the stronghold of the connected mining market is seen in the United States, United Kingdom, and Australia. The Asia-Pacific region especially China is one of the fastest-growing regions in this sector. By solution, Connected Remote Management System is one of the rapidly growing solutions due to the impact of Covid-19. Connected Security Systems are also gaining significant attention due to the development of wireless technologies and the Industrial Internet of Things (IIOT).

connected mining Marketshare, by geography

SAMPLE FIGURE

                                2019                                                              2026

 

Source: Knowledge Sourcing Intelligence Analysis

Growth Factors.

  • Digital transformation.

Increasing Information and Communication Technology (ICT), incorporation of integrated systems are some of the pivotal growth factors. Operators are adopting these technologies and are harnessing the benefits of eliminating errors and hazards before on-site implementation while enabling the ultimate predictive maintenance to minimize downtime of any equipment.

  • Occupational health and safety.

Usage of sensors such as radio frequency to detect combustible gas levels, airflow velocity, and temperature variations for checking if the environments are safe to work enhances the safety and security of the workers. The data can then be combined with data from environmental sensors to identify exposure to a potentially hazardous condition. The key to extending the range and applications of environmental monitoring solutions is the new sensors and technology which are compatible with the wireless solutions. 

Impact of COVID-19 on the Connected Mining Market

In the global context, COVID-19 is causing major disruptions to the mining industry across the world. Moreover, the developing countries that rely on minerals are missing out on essential fiscal revenues. Difficulties in obtaining financing and, consequently, delays in the implementation of new projects can be expected. Political instability, financial risk have also weakened the market. Moreover, the deficient of specialized workers as many remained stranded due to the restrictions led to a fall in the mining activities. Company operations have also been affected through isolated outbreaks and government-mandated shutdowns in several regions. One silver lining for the connected mining market amidst the pandemic is the innovations on how to improve collaborations remotely, accelerate the adoption of automation and digital capabilities. These transformations, in the long run, may open up fresh roadways.

Competitive Insights.

The market leaders for the Connected Mining Market are ABB, Rockwell Automation, Inc., Cisco Systems, Inc., SAP America, Inc., Trimble Inc., Hexagon, Caterpillar, and IntelliSense.io. The key players in the market implement growth strategies such as product launches, mergers, and acquisitions, etc. to gain a competitive advantage over their competitors. For Instance,

  • ABB Ltd has launched products like Ability Condition Monitoring and further collaborated with Hitachi to explore opportunities for mine operators to target net-zero emissions from mining machinery in 2021.
  • Hexagon Mining Inc has partnered with Fatigue Science in 2021 to ensure the safety of the mining employees by preventing accidents caused by fatigue or distracted operators of vehicles and equipment.
  • In 2021, IntelliSense.io launches the latest version of brains.app Graphite '21. It is a real-time decision-making platform for asset-intensive industries.
  • While in 2020, Caterpillar Inc acquired selected assets from Marble Robot, Inc., a California-based Robot and Autonomy Technology Solutions Company.

Connected Mining Market Scope:

Report Metric Details
 Market size value in 2019  US$5.597 billion
 Market size value in 2026  US$15.592 billion
 Growth Rate  CAGR of 15.76% during the forecast period
 Base year  2019
 Forecast period  2021–2026
 Forecast Unit (Value)  USD Billion
 Segments covered  Solution, Service, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  ABB, Rockwell Automation, Inc., Cisco Systems, Inc., SAP America, Inc., Trimble   Inc.,  Hexagon, Caterpillar, IntelliSense.io
 Customization scope  Free report customization with purchase

Segmentation:

  • By Solution
    • Connected Logistics
    • Connected Resources
    • Connected Security System
    • Connected Control System
    • Connected Remote Management Solution
  • By Service
    • Consulting
    • Support and Maintenance
    • System Integration
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Italy
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Others
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Thailand
      • Taiwan
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the connected mining market size by 2026?
A1. The connected mining market is projected to reach a market size of US$15.592 billion by 2026.


Q2. What are the growth prospects for the connected mining market?
A2. The connected mining market is projected to witness a CAGR of 15.76% over the forecast period.


Q3. What is the size of the global connected mining market?
A3. Connected Mining Market was valued at US$5.597 billion in 2019.


Q4. What factors are anticipated to drive the connected mining market growth?
A4. Increasing Information and Communication Technology (ICT), incorporation of integrated systems are some of the pivotal growth factors for the connected mining market.


Q5. Who are the major players in the connected mining market?
A5. The market leaders for the connected mining market are ABB, Rockwell Automation, Inc., Cisco Systems, Inc., SAP America, Inc., Trimble Inc., Hexagon, Caterpillar, and IntelliSense.io.

1. INTRODUCTION
1.1. Market Definition
1.2. Market Segmentation

2. RESEARCH METHODOLOGY  
2.1. RESEARCH DATA
2.2. ASSUMPTIONS

3. EXECUTIVE SUMMARY
3.1. Research Highlights

4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The Threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis

5. GLOBAL CONNECTED MINING MARKET BY SOLUTION
5.1. Connected Logistics
5.2. Connected Resources
5.3. Connected Security System
5.4. Connected Control System
5.5. Connected Remote Management Solution

6. GLOBAL CONNECTED MINING MARKET BY SERVICE
6.1. Consulting
6.2. Support And Maintenance
6.3. System Integration

7. GLOBAL CONNECTED MINING MARKET BY GEOGRAPHY
7.1. Introduction
7.2. North America
7.2.1. United States
7.2.2. Canada
7.2.3. Mexico
7.3. South America
7.3.1. Brazil
7.3.2. Argentina
7.3.3. Others
7.4. Europe
7.4.1. Germany
7.4.2. France
7.4.3. United Kingdom 
7.4.4. Spain 
7.4.5. Others
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.5.2. UAE
7.5.3. Israel
7.5.4. Others
7.6. Asia Pacific
7.6.1. China
7.6.2. India
7.6.3. South Korea
7.6.4. Taiwan
7.6.5. Thailand
7.6.6. Indonesia 
7.6.7. Japan
7.6.8. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrative
8.3. Mergers, Acquisition, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix

9. COMPANY PROFILES
9.1. ABB
9.2. Rockwell Automation, Inc.
9.3. Cisco Systems, Inc.
9.4. Sap America, Inc.
9.5. Trimble Inc.
9.6. Hexagon
9.7. Caterpillar
9.8. Intellisense.Io

ABB 

Rockwell Automation, Inc.

Cisco Systems, Inc.

SAP America, Inc.

Trimble Inc.

Hexagon Mining Inc

Caterpillar

IntelliSense.io

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