Mining Automation Market to be Worth $8.6 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Sept. 6, 2022 /PRNewswire/ -- The global mining automation market size is expected to reach USD 8.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand 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 rendering driver for the market. The growing adoption of the automated mining is attributed to the advantages associated with automated systems. For instance, in January 2022, Hexagon AB, one of the eminent players in digital reality solutions combining sensors, independent technology, and software programs, acquired Minnovare, one of the prominent players in drilling technology that enhances the cost, speed, and accuracy of drilling underground. The initiative aims to strengthen and accelerate Hexagon AB's underground roadmap and strengthen the drill and blast portfolio.

Key Industry Insights & Findings from the report:

• The equipment automation solution segment is expected to witness a CAGR of over 7.5% over the forecast period. Retrofitting the mining equipment with automated technology is expected to substantially contribute to segment growth.
• The autonomous trucks are expected to dominate the market over the forecast period. Increased deployment of autonomous trucks at the mining sites to increase productivity and safety of the workers is expected to keep the segment buoyant.
• The metal mining application segment is expected to witness a CAGR of over 6.9% over the forecast period. Increased gold exploration activities globally are expected to account for segment growth.

Read 159 page market research report, "Mining Automation Market Size, Share & Trends Analysis Report By Solution (Software Automation, Services, Equipment Automation), By Application, By Region (North America, Europe, APAC, Latin America, MEA), And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Mining Automation Market Growth & Trends

The industry witnesses the adoption of drones as a step towards the evolution of unmanned and aerial data collection technology at mining sites. The automated drone system is poised to become an essential strategic part of the future of mining. For instance, in June 2020, Caterpillar Inc., a manufacturer in the construction, mining, and transportation sector, acquired Marble robots Inc, which operates as a robotic company that includes machinery for package delivery, prescriptions, and groceries. The initiative aims to expand Robotization and autonomy strategy and demonstrates its commitment to the coming generation of Jobsite results. Structure on its leadership in independent mining, the company plans to work and bring scalable results to meet the changing requirements of construction, chase, artificial, and waste diligence.

Additionally, the implementation of Geographic Information System (GIS) in mineral exploration activities has supplemented the market growth. GIS enables mining professionals to perform in-depth analysis and get insights on mineral mining, evaluate mining conditions, and display geochemical or hydrological data. The transition from conventional mining techniques to automation has negatively impacted the market. The incorporation of drones, autonomous machinery, and sensors has substantially affected the local employment at the mine sites. Moreover, skilled workers that specialize in handling remotely automated and controlled systems are expected to be in demand. For instance, in September 2021, ABB launched eMine, a fast and powerful truck charging that helps and diverts toward a zero-carbon mine, making an all-electric mine possible with electrification and a digital system. They also unveiled the piloting of the ground-breaking capability and gave FastCharge, one of the most crucial charging systems designed to affiliate with all makes of electric mining.

Furthermore, the upcoming concept in mining operations is the use of central or virtual control room that monitors several mines in distant sites from a single location. The virtual control room is expected to facilitate benchmarking and comparison of identical processes at different plants. For instance, in January 2022, Accenture, a services-based company that provides a wide range of services in interactive, strategy, and consulting technology and operations, collaborated with Celonis. This data processing company sells software as a service (SaaS) to enhance business processes, and it has formed a partnership to work in process mining. They both have to create an alliance to help the organization gain some insights through which they update and optimize their business process. Accenture has set Celonis' data-driven operation and capabilities into its tools and platforms to give 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 & maintenance
• Training
• Consulting
• Equipment automation
• Autonomous trucks
• Remote control equipment
• Teleoperated mining equipment

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

• Metal mining
• Mineral mining
• Coal mining

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

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• Asia Pacific
• China
• India
• Japan
• Australia
• Latin America
• Brazil
• Mexico
• MEA

 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 more related studies published by Grand View Research:

• Process Mining Software Market - The global process mining software market size is estimated to reach over USD 7.95 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 50.1% from 2021 to 2028. The increasing awareness about the need to understand and analyze business processes driven by digital transformation is one of the key factors driving market growth. Additionally, the constant increase in data volumes across industries is driving the demand for process mining software and services.
  
  
• Intelligent Process Automation Market - The global intelligent process automation market size is expected to reach USD 17.5 billion by 2025, registering a CAGR of 16.9% from 2019 to 2025, according to a new report by Grand View Research, Inc. The fast-paced development of Artificial Intelligence (AI) and its implementation is propelling the strategists to realign their business models with modern technologies. Intelligent process automation helps achieve 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 primarily helps automate repetitive processes and in turn reduce manual efforts. Significant advantages such as improved customer experience and increased process efficiency are anticipated to drive the adoption of this technology in near future.
  
  
• Smart Home Automation Market - The global smart home automation market size is expected to reach USD 130.0 billion by 2025, according to a new report by Grand View Research, Inc. The growing demand for the convenience of remote and real-time operation of smart home automation system has increased the growth and penetration of the smart home automation. Increasing urban and geriatric population have created the need to incorporate smart home automation concept in order to address the arising challenges. Further, increase in demand of smartphones and easy accessibility of internet are expected to fuel growth in the demand for the in the coming future. The growing adoption of the automation in security, lighting, HVAC, energy management, and smart kitchen arenas is anticipated to revolutionize the market by 2025.

Browse through Grand View Research's  Next Generation Technologies Industry Research Reports.

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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