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The global connected mining market grew at a CAGR of around 18% during 2015-2020. Connected mining refers to the next-generation land mine designs that integrate surface and underground mining for enhanced efficiency in the extraction and management of mining resources. It establishes highly secured information protocol (IP) and multi-service networks to monitor wall slope stability, surface movement, detection of fractures and faults and natural seismicity in the mines. It involves various systems and solutions, such as operational data processing and analytics, smart assets, logistics, control systems and safety and security systems and remote management solutions. They are deployed on the machines used for mining operations and offer various benefits, such as enhanced production efficiency and safety of the workers and minimized production costs with real-time visibility of assets.
Significant growth in the mining industry across the globe represents one of the key factors creating a positive outlook for the market. Moreover, the increasing requirement for enhanced safety and security solutions for mine workers is also driving the market growth. Connected mining enables enterprises to increase their production capacities by real-time monitoring and communication with the integrated systems. In line with this, it also offers predictive maintenance that provides on-site cost monitoring and utilization of resources through digital tail monitoring controls. Additionally, the advent of the Industrial Internet of Things (IIoT), big data and cloud computing solutions with the mining systems, is acting as another growth-inducing factor. Service providers are also developing design flexible platforms, sensors, processors, and software to deliver an improved experience to the user, which, in turn, is driving the market further. Looking forward, IMARC Group expects the global connected mining market to exhibit strong growth during the next five years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global connected mining market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, component, equipment breakup by type, software and services breakup by type, mining type and solution type.
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Equipment Breakup by Type:
Software and Services Breakup by Type:
Breakup by Mining Type:
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Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Group, Accenture Plc, Alastri, Cisco Systems Inc., Hexagon AB, Intellisense.Io, Rockwell Automation, SAP SE, Symboticware Inc. and Trimble Inc.
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