Global connected mining market is anticipated to grow at a significant CAGR of 10.7% during the forecast period (2024-2031). The market growth is attributed to the growing adoption of advanced technologies such as the Internetof Things(IoT), cloud computing, big data, and artificial intelligence (AI), growing demand for automation in the mining industry, rising awareness among miners regarding safety and sustainability, and increasing investment in the mining industry globally driving the growth of the market. By gathering equipment data in real-time and publishing it to the cloud and third-party applications, connected mining solutions offer machine visibility, improve maintenance, and provide two-way communication for supervision and control.
Browse the full report description of “Connected Mining Market Size, Share & Trends Analysis Report byType (Surface and Underground),bySolution (Asset Tracking and Optimization, Fleet Management, Industrial Safety and Security, Workforce Management, Analytics and Reporting, Process Control and Others (Operational performance, Quality optimization solutions), and by Application (Exploration, Processing & refining and Transportation)Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/connected-mining-market
Process mining uses AI and dedicated algorithms to quickly and accurately model and analyze the ‘as-is’ lifecycle of their processes based on event log data. It then pinpoints unforeseen bottlenecks, reworks, nonconformances, and other pain points that slow them down – such as extraneous steps in account onboarding processes that takecustomers too long to complete. For instance, in May 2023, Pegasystems Inc. introduced Pega process mining with generative AI-ready APIs to enable continuous workflow optimization. These intuitive process mining capabilities along with generative AI-ready APIswill be seamlessly integrated within Pega Platform™, providing organizations with a unified solution to continuously optimize their Pega workflows.
To transform both surface and underground mining, market players focusing on safety, automation, decarbonization, optimization, data, and asset management across global operations. The market players setthe stage for the rapid development and deployment of the technologies, ultimately improving safety, productivity, and energy efficiency across the mining industry. For instance, in November 2021, Newmont and Caterpillar collaborated for a comprehensive mining system including the rapid deployment of an all-electric autonomous haulage fleet with an initial investment of $100.0 million, across two continents. Mining equipment and technologies, to deliver a fully connected, automated, zero carbon emitting, end-to-end mining system.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Type
o By Solution
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Hitachi Construction Machinery Co., Ltd., IBM Corp., SAP SE, Siemens AG, Telefonaktiebolaget LM Ericsson, among others.
Key questions addressed by the report.
Global Connected Mining Market Report Segment
By Type
By Solution
By Application
Global Connected Mining Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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