Mining automation market to reach $8.6 billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, September 6, 2022 /PRNewswire/ — The Global mining automation market the size should reach $8.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 7.3% from 2022 to 2030. The increasing demand for accuracy and productivity required during mining activities is the high impact renderer for the market. The growing adoption of automated mining is attributed to the benefits associated with automated systems. For example, in January 2022, Hexagon AB, a leading player in digital reality solutions combining sensors, independent technology and software, has acquired Minnovare, a leading player in drilling technology that improves cost, speed and accuracy of underground drilling. The initiative aims to strengthen and accelerate Hexagon AB’s underground roadmap and strengthen the drill and blast portfolio.

Key industry insights and findings from the report:

  • The equipment automation solutions segment is expected to witness a CAGR of over 7.5% during the forecast period. Modernization of mining equipment with automated technology is expected to contribute substantially to the growth of the segment.
  • Self-driving trucks are expected to dominate the market over the forecast period. The increased deployment of self-driving trucks at mining sites to increase worker productivity and safety is expected to keep the segment buoyant.
  • The metal mining application segment is expected to witness a CAGR of over 6.9% during the forecast period. The increase in gold exploration activities globally is expected to explain the growth of the segment.

Read the 159-page market research report, “Mining Automation Market Size, Share & Trend Analysis Report by Solution (Software Automation, Services, Equipment Automation), by Application, by Region (North America, EuropeACPA, Latin AmericaMEA), and sector forecasts, 2022 – 2030“, published by Grand View Research.

Mining Automation Market Growth and Trends

The industry is witnessing the adoption of drones as a step towards evolving technology for unmanned and aerial data collection at mine sites. The automated drone system is set to become a critical strategic part of the future of mining. For example, in June 2020, Caterpillar Inc., a manufacturer in the construction, mining and transportation industries, has acquired Marble robots Inc, which operates as a robotics business that includes machines for package delivery, prescriptions and grocery. The initiative aims to extend the robotization and autonomy strategy and demonstrates its commitment to the next generation of jobsite results. Structured on its leadership in independent mining, the company plans to work and deliver scalable results to meet the changing demands of construction, hunting, man-made and waste diligence.

Additionally, the implementation of Geographic Information System (GIS) in mineral exploration activities has supplemented the growth of the market. GIS allows mining professionals to perform in-depth analysis and obtain mining information, assess mining conditions, and display geochemical or hydrological data. The transition from conventional mining techniques to automation has had a negative impact on the market. The incorporation of drones, autonomous machines and sensors has significantly affected local employment at mining sites. Additionally, skilled workers specializing in handling automated and remotely controlled systems are expected to be in demand. For example, in September 2021, ABB has launched eMine, a fast and powerful truck recharge that assists and diverts to a zero-carbon mine, making possible an all-electric mine with electrification and a digital system. They also unveiled the groundbreaking ability drive and gave FastCharge, one of the most crucial charging systems designed to partner with all electric mining brands.

Additionally, the upcoming concept in mining operations is the use of a central or virtual control room that monitors multiple mines in remote sites from a single location. The virtual control room should facilitate benchmarking and comparison of identical processes in different factories. For example, in January 2022, Accenture, a services company that provides a wide range of services in the areas of technology and interactive operations, strategy and consulting, has collaborated with Celonis. This data processing company sells software as a service (SaaS) to improve business processes, and it has formed a partnership to work in process mining. They both need to create an alliance to help the organization gain knowledge through which they update and optimize their business process. Accenture has integrated Celonis’ data-driven operations and capabilities into its tools and platforms to deliver new situations and insights to inform decision-making.

Mining automation market segmentation

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

Mining Automation Market – Solution Outlook (Revenue, USD Million, 2017 – 2030)

  • Software Automation
  • Services
    • Implementation and maintenance
    • Coaching
    • Consultant
  • Equipment Automation
    • Autonomous trucks
    • Remote control equipment
    • remotely operated mining equipment

Mining Automation Market – Application Outlook (Revenue, USD Million, 2017 – 2030)

  • Metal mining
  • Mining
  • Coal mine

Mining Automation Market – Regional Outlook (Revenue, USD Million, 2017 – 2030)

  • North America
  • Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
  • Latin America
  • AEM

List of Key Players of Mining Automation Market

  • 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

Check out other related studies published by Grand View Research:

  • Process Mining Software MarketThe global process mining software market size is estimated to exceed $7.95 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 50.1% from 2021 to 2028. The growing awareness of the need to understand and analyze business processes business driven by digital transformation is one of the key market growth factors. Additionally, the ever-increasing data volumes across all industries are driving the demand for process mining software and services.
  • Intelligent Process Automation Market – The global intelligent process automation market size is expected to reach $17.5 billion by 2025, registering a CAGR of 16.9% from 2019 to 2025, according to a new report from Grand View Research, Inc. The rapid development of artificial intelligence (AI) and its implementation are driving strategists to realign their business models with modern technologies. Intelligent process automation achieves flexible and intelligent automation by combining artificial intelligence, robotic process automation, and other emerging technologies. It can be used in a variety of scenarios, such as processes that have predefined rules and minimal human judgment involved. It mainly helps to automate repetitive processes and in turn reduce manual efforts. Significant benefits such as better customer experience and increased process efficiency are expected to drive the adoption of this technology in the near future.
  • smart home automation market – The global smart home automation market size is expected to reach $130.0 billion by 2025, according to a new report from Grand View Research, Inc. Rising demand for the convenience of remote and real-time operation of smart home automation system has increased the growth and penetration of smart home automation. The increase in the urban and geriatric population has created the need to integrate the concept of smart home automation in order to meet the challenges that arise. Additionally, increasing demand for smartphones and ease of internet access are expected to fuel demand growth in the future. Growing adoption of automation in security, lighting, HVAC, energy management and smart kitchens is expected to revolutionize the market by 2025.

Browse Grand View Research results Next Generation Technology Industry Research reports.

About Grand View Research

Grand View Research, a US-based market research and consulting firm, provides syndicated and custom research reports and consulting services. Checked in California and whose head office is at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports offer in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.

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