Connected Mining Market

Connected Mining Market Booms: Growth Drivers & Top Players

The global connected mining market is estimated to be valued USD 13.3 billion in 2023 and USD 22.7 billion by 2028, rising at an 11.3% CAGR over the forecast period. The connected mining industry is being driven by technological improvements, as well as the need for operational efficiency, safety, and sustainability.

The connected mining market is flourishing due to a confluence of growth drivers:

  • Technological Advancements
  • Improved Operational Efficiency
  • Enhanced Safety and Security
  • Stringent Environmental Regulations
  • Depleting Ore Grades and Deeper Mines

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Technological Advancements: The cornerstone of this growth is the rapid advancement in technologies like IoT, AI, and machine learning. These innovations enable real-time data collection, analysis, and informed decision-making, leading to optimized mining operations.

Improved Operational Efficiency:  By leveraging connected technologies, mining companies can streamline processes, track equipment performance, and optimize resource allocation. This translates to increased productivity, reduced downtime, and ultimately, higher profits.

Enhanced Safety and Security:  Safety is a major concern in mining. Connected mining solutions like automated equipment and worker tracking systems minimize human exposure to dangers and enable quicker response during emergencies, significantly reducing safety risks.

Stringent Environmental Regulations:  Mining operations are facing stricter environmental regulations. Connected mining technologies can help companies monitor and manage environmental aspects like dust control and emissions, ensuring regulatory compliance.

Depleting Ore Grades and Deeper Mines: As easily accessible, high-grade ores become scarce, mining ventures delve deeper into the earth. Connected mining solutions provide real-time data and remote monitoring capabilities that are crucial for safe and efficient operations in these challenging environments.

These factors are creating a compelling scenario for the connected mining market. As mining companies strive for increased efficiency, safety, and environmental responsibility, connected mining solutions will play a vital role in their success.

Connected Mining Market Share - Global Industry Landscape

Some of the leading companies in the Connected Mining industry include:

  • ABB (Switzerland)
  • IBM (US)
  • SAP (Germany)
  • Cisco (US)
  • Schneider Electric (France)

ABB (Switzerland)

Market Share:

ABB is a global leader in industrial automation and robotics, with a significant market share in these sectors. As of recent reports, ABB holds around 20-25% of the market share in the industrial automation sector, making it one of the top players globally.

Key Offerings:

Electrification Products: Products related to power distribution, including circuit breakers, switches, enclosures, and wiring accessories.

Robotics and Discrete Automation: Industrial robots, collaborative robots, and factory automation solutions.

Industrial Automation: Control systems, measurement and analytics, marine and turbocharging, and process industries solutions.

Motion: Electric motors, generators, drives, and services.

Power Grids: Solutions for power generation, transmission, and distribution.

IBM (US)

Market Share:

IBM has a significant market share in various sectors including cloud computing, AI, and enterprise software. In the global cloud market, IBM holds approximately 5-10% of the market share, with a stronger presence in hybrid cloud solutions.

Key Offerings:

Cloud Computing: Hybrid cloud solutions, public and private cloud services.

Artificial Intelligence: Watson AI platform for various industry applications.

Quantum Computing: Quantum hardware and software services.

Enterprise Software: Solutions for analytics, data management, security, and blockchain.

IT Infrastructure: Servers, storage, and data centers.

SAP (Germany)

Market Share:

SAP is a dominant player in the enterprise application software market, holding approximately 20-25% market share globally, particularly strong in ERP solutions.

Key Offerings:

ERP Solutions: SAP S/4HANA for enterprise resource planning.

Supply Chain Management: Integrated software for supply chain operations.

Customer Relationship Management: SAP C/4HANA for CRM.

Human Capital Management: SAP SuccessFactors for HR and talent management.

Business Technology Platform: SAP Business Technology Platform for database and data management, analytics, application development, and intelligent technologies.

Cisco (US)

Market Share:

Cisco is a leading player in the networking and telecommunications equipment market, with a market share of around 45-50% in networking hardware and enterprise solutions.

Key Offerings:

Networking Hardware: Routers, switches, and wireless systems.

Cybersecurity: Firewalls, intrusion prevention systems, and secure access solutions.

Collaboration Tools: WebEx for video conferencing and collaboration.

Data Center: Solutions including servers, networking, and hyper-converged infrastructure.

Internet of Things (IoT): IoT platforms and edge computing solutions.

Schneider Electric (France)

Market Share:

Schneider Electric is a major player in energy management and automation, holding around 10-15% of the market share in electrical distribution and energy management solutions.

Key Offerings:

Energy Management: Solutions for power distribution and energy efficiency.

Automation and Control: Industrial automation and control products, including programmable logic controllers (PLCs) and human-machine interfaces (HMIs).

Building Management: Solutions for building automation and management systems.

Critical Power and Cooling: UPS systems, cooling solutions for data centers, and secure power.

Smart Grid: Technologies for intelligent grid management and renewable integration.

Related Reports:

Connected Mining Market by Offering (Solutions (Asset Tracking and Optimization, Fleet Management) and Services (Professional, Managed)), Mining Type (Surface, Underground), Application, Deployment Mode and Region - Global Forecast to 2028

Connected Mining Market Size,  Share & Growth Report
Report Code
TC 4262
RI Published ON
7/25/2023
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