Mining Automation Market Size Worth $8.6 Billion By 2030

 Mining Automation Industry Overview

The global mining automation market size was valued at USD 4.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.3% from 2022 to 2030. The rapid advancement in technology such as Artificial Intelligence (AI) and robotics have resulted in increased usage of mining automation solutions as a means of boosting production efficiency. The increasing trend of deploying innovative technologies is driving the growth of automated mining solutions. The emergence of the Internet of Things (IoT) in this sector offers mine management with real-time data and analytics with the help of visualization tools. Several operators are teaming up with technology companies for deploying wireless networks underground.

For instance, in April 2021, International Business Machines Corporation (IBM) announced the acquisition of myInvenio, an Italian startup company. The Company builds and operates process mining software. The initiative aims to MyInvenio's process and task mining technology into IBM Cloud for Robotization, a platform for structuring and running robotization operations. The Company will be beneficial from the data-driven software and tools that help them track sales, production, procurement, and accounting.

Gather more insights about the market drivers, restrains and growth of the Global Mining Automation market

The increasing need for mine and worker safety is providing an impetus to the industry's growth. Previously, the traditional mining techniques have compromised the safety of the mineworkers resulting in increased hazards at the mining site. Therefore, providers have developed smart mining solutions and equipment to ensure the safety of workers. For instance, in November 2020, ABB launched the ABB Ability safety plus a suite for the mine hoist; which is considered the mining industry's first fully independently certified Safety Integrity Level 3 (SIL 3) for safety integrated level, which is very specific and rare for risk reduction and safety hazardous. For the mine hoist solution with the proper security. By offering three solutions safety plus brake system, safety plus hoist monitor, and safety plus hoist protector. The initiative aims to enhance the environment for mining to be safe for workers and types of equipment.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

  • Development To Operations Market - The global development to operations market size was valued at USD 7,481.1 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 20.7% from 2022 to 2030. Increasing adoption of cloud technologies, fast application delivery, advancements in artificial intelligence, and software automation are the factors expected to drive the growth of the DevOps market.

 

  • Computer Aided Engineering Market - The global computer aided engineering market size was valued at USD 8,904.2 million in 2021 and is expected to expand at a CAGR of 8.8% from 2022 to 2030, owing to the increased outsourcing of manufacturing processes to emerging economies such as China, India, and Russia, among others.

 

Mining Automation Market Segmentation

Grand View Research has segmented the global mining automation market based on solution, application,, and region:

  • Solution Outlook (Revenue, USD Million, 2017 - 2030)
    • Software automation
    • Services
      • Implementation & maintenance
      • Training
      • Consulting
    • Equipment automation
      • Autonomous trucks
      • Remote control equipment
      • Teleoperated mining equipment

    • Application Outlook (Revenue, USD Million, 2017 - 2030)
      • Metal mining
      • Mineral mining
      • Coal mining

    • Regional Outlook (Revenue, USD Million, 2017 - 2030)
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa (MEA)

 

Market Share Insights

  • April 2022: Microsoft is the technology company that develops and supports software products and devices and provides services.
  • Jan 2019: Komatsu America Corp., a leading global heavy equipment manufacturer announced the FrontRunner Autonomous Haulage System (AHS) has qualified to operate on private long-term evolution (LTE) mobile broadband technology.

 

Key Companies profiled:

Some of the prominent players in the mining automation market include:

  • Atlas Copco AB
  • Autonomous Solutions Inc.
  • Caterpillar Inc.
  • Hexagon AB
  • Hitachi Construction Machinery Co., Ltd
  • Komatsu Ltd.
  • Rio Tinto
  • Rockwell Automation, Inc.
  • Sandvik AB
  • Siemens

 

Order a free sample PDF of the Mining Automation Market Intelligence Study, published by Grand View Research. 

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