Mining Automation Market size is expected to reach USD 8.6 billion by 2030

 Mining Automation Industry Overview

The global mining automation market size was valued at USD 4.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.3% from 2022 to 2030.

 

The rapid advancement in technology such as Artificial Intelligence (AI) and robotics have resulted in increased usage of mining automation solutions as a means of boosting production efficiency. The increasing trend of deploying innovative technologies is driving the growth of automated mining solutions. The emergence of the Internet of Things (IoT) in this sector offers mine management with real-time data and analytics with the help of visualization tools. Several operators are teaming up with technology companies for deploying wireless networks underground.

 

Gather more insights about the market drivers, restrains and growth of the Global Mining Automation Market

 

For instance, in April 2021, International Business Machines Corporation (IBM) announced the acquisition of myInvenio, an Italian startup company. The Company builds and operates process mining software. The initiative aims to MyInvenio's process and task mining technology into IBM Cloud for Robotization, a platform for structuring and running robotization operations. The Company will be beneficial from the data-driven software and tools that help them track sales, production, procurement, and accounting.

 

The increasing need for mine and worker safety is providing an impetus to the industry's growth. Previously, the traditional mining techniques have compromised the safety of the mineworkers resulting in increased hazards at the mining site. Therefore, providers have developed smart mining solutions and equipment to ensure the safety of workers. For instance, in November 2020, ABB launched the ABB Ability safety plus a suite for the mine hoist; which is considered the mining industry's first fully independently certified Safety Integrity Level 3 (SIL 3) for safety integrated level, which is very specific and rare for risk reduction and safety hazardous. For the mine hoist solution with the proper security. By offering three solutions safety plus brake system, safety plus hoist monitor, and safety plus hoist protector. The initiative aims to enhance the environment for mining to be safe for workers and types of equipment.

 

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

  • Edge Computing Market: The global edge computing market size was valued at USD 11.24 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 37.9% from 2023 to 2030.
  • Industrial Internet Of Things Market: The global industrial internet of things market size was valued at USD 321.81 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 23.2% from 2023 to 2030. 

 

Key Companies Profile

Some of the prominent players in the mining automation market include:

  • 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

 

Order a free sample PDF of Mining Automation Market Intelligence Study, published by Grand View Research.

 

 

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