Connected mining market expected to earn $32.63 billion globally by 2031 at a CAGR of 13.3%: Allied Market Research

The rise of the Internet of Things (IoT) and increasing investments in simulation technologies have driven the growth of the global connected mining market

PORTLAND, Oregon., July 13, 2022 /PRNewswire/ — Allied Market Research recently released a report titled “Connected mining market by component (solution, services), by deployment mode (on-premise, cloud), by organization size (large enterprise, SMB), by mining type (surface, underground), by application (exploration, processing and Refining, Transportation): Global Opportunities Analysis and Industry Forecast, 2021-2031″. According to the report, the global cider industry generated $9.45 billion in 2021, and should reach $32.63 billion by 2031, growing at a CAGR of 13.3% from 2022 to 2031.

Drivers, constraints and opportunities

The rise of the Internet of Things (IoT) and increasing investments in simulation technologies have driven the growth of the global connected mining market. However, shortage of skilled labor and soaring operating costs along with productivity issues are hampering the growth of the market. On the contrary, an increased trend of digitalization to improve business operations and the advent of 5G technology are expected to open up lucrative opportunities in the future.

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Covid-19 scenario:

  • The Covid-19 pandemic has had a positive impact on the demand for connected mining due to the rapid adoption of emerging technologies such as the Industrial Internet of Things (IIoT), artificial intelligence-based solutions, cloud-based technologies and big data.
  • As a mining support company connected to take a step towards digitization, its demand has increased during the pandemic.

Get a detailed analysis of the impact of COVID-19 on the connected mining market:

The solutions segment dominated the market

By component, the solutions segment held the lion’s share in 2021, accounting for approximately two-thirds of the global connected mining market, owing to the adoption of connected mining offering numerous benefits such as improving worker safety by tracking miners, monitoring entrances or exits, evacuation status and receiving alerts. However, the services segment is expected to show the highest CAGR of 14.6% during the forecast period as the connected mining service reduces IT-related complexities and maximizes business efficiency through the elimination of the manual process.

The cloud segment will register the highest CAGR until 2031

By mode of development, the cloud segment is expected to register the highest CAGR of 15.9% from 2022 to 2031, driven by increased adoption of cloud-based connected mining and a low cost and easier maintenance. However, the onsite segment held the lion’s share in 2021, contributing more than half of the global connected mining market.

Europe manifest the highest CAGR by 2031

By region, the world connected mining industry on the other side Europe is expected to register the highest CAGR of 15.2% during the forecast period, owing to the high rate of adoption of technologies, such as operational analytics and data processing, remote monitoring and systems and mining safety solutions. However, the market through Asia Pacific held the largest share in 2021, accounting for more than a third of the market, owing to rapid advances in technology, digitalization of economies, and government initiatives.

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Main market players

  • ABB Ltd.
  • Accenture
  • Cisco Systems Inc.
  • hexagon
  • IBM Corporation
  • Rockwell Automation Inc.
  • SAP SE
  • Schneider-Electric
  • Siemens AG
  • Trimble Inc.


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About Us:

Allied Market Research (AMR) is a full-service market research and business advisory division of Allied Analytics LLP based in Portland, OR. 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 area.

Pawan KumarCEO of Allied Market Research, directs the organization towards the provision of high quality data and information. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.


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