Mining Automation Market to Expand at a CAGR of 7.3% During the Forecast Period 2022-2030

Posted on 2022-06-09 by researchinsights in Industrial, Technology // 0 Comments

San Francisco, California , USA, June 09, 2022 — /EPR Network/ —

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.

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

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.

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.

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Mining Automation Market Segmentation

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

Mining Automation Solution Outlook (Revenue, USD Million, 2017 – 2030)
- Software automation
- Services
  - Implementation & maintenance
  - Training
  - Consulting
- Equipment automation
  - Autonomous trucks
  - Remote control equipment
  - Teleoperated mining equipment
- Mining Automation Application Outlook (Revenue, USD Million, 2017 – 2030)
  - Metal mining
  - Mineral mining
  - Coal mining
- Mining Automation 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.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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