Global Connected Mining Software Market Size, Share, and Trends Analysis Report, by Type (Operational Data Processing & Analytics, Smart Logistics, Smart Control Systems, Smart Safety & Security System, and Remote Management Solution) and by Application (Surface Mining and Underground Mining), Forecast (2022-2028)

The globally connected mining market is anticipated to grow at a significant CAGR of 16.8% during the forecast period (2022-2028). The global connected mining market is expected to grow with the industry 4.0 revolution. Industry 4.0 is the fourth industrial revolution which will represent a new stage in the industry with embedded software and IoT. The increasing awareness about the extremely harsh mining atmosphere, such as explosive atmosphere, high vibration, electromagnetic interface, extreme operating conditions, and other health problems is influencing the key manufacturers to introduce automation and smart mining solution in the market. The launch of different remote-controlled equipment, ventilation solutions, robotic machines, and the adoption of IoT solutions globally is boosting the demand for the connected mining market. Additionally, several governmental regulations to control emissions & air pollution for environmental protection are considered a major factor for the market growth. The demand for high productivity and decreased labor cost is also fueling the growth of the market. As per research by Siemens, automation in the mining industry decreases maintenance costs by up to 67%. Furthermore, the rising awareness among the mining companies and the market players about the numerous life loss and lifelong risks of the mining workers working in the mine is anticipated to propel the growth of the global connected mining market.

The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new launches, to stay competitive in the market. For instance-

• In January 2022, Inner Mongolia IHJUCHEM Industrial Co., Ltd. announced the launch of the first 5G unmanned new energy mining vehicle project.
• In January 2022, HERE announced its partnership with Telefonaktiebolaget LM Ericsson, to provide the global mining industry with custom mapping capabilities.
• In September 2020, the government of Western Australia and Austmine announced their launch of WA Mining Equipment, Technology, and Services (METS) Digital Mining Export Hub in Port Hedland.
• In May 2020, the government of India announced the launch of an online Smart Mining resource center to provide the latest industry insights and access to digital solutions and technologies that mining companies can adopt to accelerate their business growth, reduce wasted investment, and avoid duplication.
• In May 2019, the World Bank Group announced the launch of the Climate-Smart Mining Facility, the first-ever fund dedicated to making mining for minerals climate-smart and sustainable.

Market Coverage

• The market number available for – 2022-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Phoenix Contact GmbH & Co. KG, OMRON, CISCO SYSTEMS INC., MOXA, and Mitsubishi Electric, among others

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Connected Mining Software Market Report by Segment

By Type

• Operational Data Processing & Analytics
• Smart Logistics
• Smart Control Systems
• Smart Safety & Security System
• Remote Management Solution

  By Application

• Surface Mining
• Underground Mining