The global mining automation market size was valued at USD 4.6 Billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.3% from 2022 to 2030.
Market Overview
The research firm Contrive Datum Insights has just recently added to its database a report with the heading global mining automation market. Both primary and secondary research methodologies have been utilised in order to conduct an analysis of the worldwide mining automation market. In order to provide a comprehensive comprehension of the topic at hand, it has been summed up using appropriate and accurate market insights. According to Contrive Datum Insights, this worldwide comprehensive report is broken up into several categories in order to present the data in a way that is understandable, succinct, and presented in a professional manner. Automation in mining gets rid of the need for people to work in the mining industry. This automation technology can make mining work easier. Mines can be made more productive by using technology. Technology makes it possible to keep mines safe. Improvements in technology are good for the mining automation market. Mining is a very labor-intensive industry.In this sector, there is a high demand for workers with a lot of skills. That makes labor costs high for the market. But automation lowers labor costs. Even in dangerous areas, this automation technology can help the mining process. The hardware and software segments of the market make the market work better. Both of these segments provide equipment and services to the mining industry.In the coming years, automation is expected to grow in many industries. As automation technology gets better, the mining automation market will grow quickly. Consumer electronics are one of the main reasons why the mining automation market is growing so fast. Because of the development of various electronic products, mining equipment can now be used.
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Segment Analysis
It encompasses the most important key players in the world’s various regions and contains them. In this research report, several different techniques that high-level industries have utilised to achieve their goals are discussed. In order to obtain a more in-depth analysis of a number of different businesses, player profiles of the most important top players have been developed. It is beneficial to have an understanding of the worldwide competition on both the domestic and international platforms.It provides a detailed description of the drivers and opportunities in the mining automation market, which assists current customers and potential customers in gaining a clear vision and making decisions that are most effective for them. In order to discover the desired facts regarding the target market, various types of analysis models, such as mining automation market, are utilised. In addition to this, it includes a variety of different techniques for strategic planning, which encourages the way to define and develop the framework of the various industries.By solution, the global mining automation market is split into software automation, services, and equipment automation.The software automation segment is the biggest contributor to the market and is expected to grow at a CAGR of 12.9% over the forecast period. Automation in mining software lets the administrator increase accountability, find productivity bottlenecks, and better understand the return on investment. By application, the global mining automation market is split into metal mining, mineral mining, and coal mining.The mineral mining segment has the largest market share and is expected to grow at a compound annual growth rate (CAGR) of 11.6% over the forecast period. Mineral mining is the process of extracting minerals from their ores. The ores are rocks that have high concentrations of valuable metals, such as bauxite for aluminum, galena for lead, and cassiterite for tin.
Based on types, the mining automation market is segmented into:
- Equipment
- Software
- Communications System
By Technique
- Surface Mining
- Underground Mining
Based on application, the mining automation market is segmented into:
- Mine Development
- Mining Process
- Mine Maintenance
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Recent Development
In November 2022, Sandvik AB announced that the Chinese global mining services provider JCHX Mining Management Co., Ltd. placed a large order with Sandvik for mining equipment that will be used in the Kamoa-Kakula copper mine and the Kamoya copper and cobalt mine in the Democratic Republic of the Congo.
Sandvik AB announced in November 2022 that it had signed a deal to buy Polymathian Industrial Mathematics (Polymathian). This Australian company offers tools and services that are at the cutting edge of mine optimization. Polymathian will be put in the business area of Sandvik Mining and Rock Solutions’s (SMR) Digital Mining Technologies division.
Regional Analysis
By region, the global mining automation monitoring market is split into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Asia-Pacific has the biggest share of the global mining automation monitoring market, and it is expected to grow at a CAGR of 12.3% during the forecast period. The growth of the mining automation market in the Asia-Pacific region is likely to be driven by Australia’s increasing use of automation technology. Robots and remote-controlled machines help get minerals out of the ground in Australia in a safe and effective way. During the forecast period, the untapped drilling and exploration potential in countries with developing economies like China and India should create a lot of growth opportunities for the industry.
Regional mining automation market coverage (Regional Status, Demand Forecast, Country Trends, etc.):
- North America, Europe, China, Japan, Southeast Asia, India.
- North America (USA, Canada, and Mexico).
- Europe (Germany, France, UK, Russia and, Italy).
Asia-Pacific (China, Japan, Korea, India and, Southeast Asia).
Key segments covered in mining automation market include:
- mining automation market Growth Drivers and Barriers.
- Market Trends, Market Opportunities, Porter’s Five Forces Analysis.
- Market Overview, Industry Development, Market Maturity, Value Chain Analysis.
- Regional and Country Level Analysis.
- Trends and Forecasts for Market Segments.
- Market Analysis and Various Recommendations.
- Key market forces.
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Key Market Participants in the mining automation market:
Caterpillar, Komatsu, Sandvik, Atlas Copco, Hexagon, Hitachi, RPMGlobal, Trimble, Autonomous Solutions Inc., Fluidmesh Networks, MST Global, Symboticware, Volvo Group, Micromine, Remote Control Technologies., and others.
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