Growing demand for real-time analysis in mining sector is the key factor driving market growth
Market Size – USD 11.69 Billion in 2020, Market Growth – at a CAGR of 13.5%, Market Trends –Advancements in mining technology
The global digital mining market size is expected to reach USD 32.42 Billion in 2028 and register a CAGR of 13.5% over the forecast period, according to the latest report by Reports and Data. Some key factors driving global market revenue growth are rising requirement of real-time analysis and increasing adoption of automation platforms in mining industries. Digital mining involves implementation of computerized digital technology in mining activities. It offers various solutions and services that are designed to manage and optimize production and operational activities in mining. Digital mining operation uses advanced systems such as 3D modeling technology, unmanned vehicle, and others that allow mining companies to design models of underground mining areas and manage mining operation remotely.
Digital mining also applies several advanced technologies such as automation & robotics, real-time analytics, cybersecurity, and others. Automation & robotics technology allows mining companies to minimize human labor requirements and automate mining activities by using physical machines and software. Automation & robotics segment accounted for largest revenue share in the global market in 2020. Increasing application of automation and robotics due to various advantages such as less labor requirement, enhanced efficiency, and low time requirement are some key factors driving revenue growth in this segment.
Major players in the market include Caterpillar, Sandvik AB, SAP, Schneider Electric, Rockwell Automation, Inc., GE, Siemens, Komatsu Mining Corp., IBM, and Bentley Systems.
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Some Key Highlights From the Report:
- In June 2021, Schneider Electric and Wärtsilä announced the development of local modular energy solution for lithium mining. This solution offers power supply consulting and design, power infrastructure build, equipment delivery, installation, digital microgrids operation, and commissioning.
- Surface mining segment accounted for majority revenue share in the global market in 2020. This can be attributed to increasing use of raw materials such as iron, coal, copper, sand, and others, and rising focus on safety during surface mining operations and activities.
- North America accounted for significantly large revenue share in the global market in 2020. Growing adoption of advanced digital technologies in mining activities is a major factor driving revenue growth of the market in this region.
- Major players in the market include Caterpillar, Sandvik AB, SAP, Schneider Electric, Rockwell Automation, Inc., GE, Siemens, Komatsu Mining Corp., IBM, and Bentley Systems.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/digital-mining-market
For the purpose of this report, Reports and Data has segmented the digital mining market based on type, technology, application, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Underground Mining
- Surface Mining
Technology Outlook (Revenue, USD Billion; 2018-2028)
- Automation & Robotics
- Real-Time Analytics
Application Outlook (Revenue, USD Billion; 2018-2028)
- Iron & Ferro Alloys
- Non-Ferrous Metals
- Precious Metals
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Advantages of Digital Mining Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Digital Mining industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Digital Mining market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.