According to the latest report by IMARC Group, titled “Connected Mining Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global connected mining market grew at a CAGR of around 18% during 2015-2020. Connected mining refers to the process of integrating surface and underground mining for enhanced efficiency during the extraction and management of mining resources. It comprises various systems and solutions, including smart assets; control systems and safety; operational data processing; analytics, logistics and security systems; and natural seismicity in the mines.
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The burgeoning mining industry represents one of the primary factors strengthening the growth of the market across the globe. Moreover, connected mining allows enterprises to increase production capacities by real-time communication and monitoring integrated systems. As a result, it offers predictive maintenance, on-site monitoring and utilization of resources through digital tail monitoring controls. However, the outbreak of the coronavirus disease (COVID-19) and subsequent lockdown restrictions have resulted in the temporary closures of mining sites across the world. This has negatively impacted the market, but it will recover once the lockdown restrictions are relaxed. Looking forward, IMARC Group expects the global connected mining market to exhibit strong growth during 2021-2026.
Breakup by Component:
Equipment Breakup by Type:
- Automated Mining Excavators
- Load Haul Dump
- Drillers and Breakers
Software and Services Breakup by Type:
- Data/Operations/Asset Management and Security Software
- Support and Maintenance Services
- System Integration and Deployment Services
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
Competitive Landscape with Key Player:
- ABB Group
- Accenture Plc
- Cisco Systems Inc.
- Hexagon AB
- Rockwell Automation
- SAP SE
- Symboticware Inc
- Trimble Inc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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