Mining Automation Market size is expected to reach USD 8.64 billion by 2030
The global mining automation market was valued at USD 4.90 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.3% from 2023 to 2030. The rapid advancement in technology, such as Artificial Intelligence (AI) and robotics, has 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 to deploy wireless networks underground. For instance , in April 2021, International Business Machines Corp. (IBM) announced the acquisition of myInvenio, an Italian startup company. The Company builds and operates process mining software. The initiative aims to MyInvenio’s pro...