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A recent report published by Infinium Global Research on mining automation market provides in-depth analysis of segments and sub-segments in the global as well as regional mining automation market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional mining automation market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global mining automation market.
Mining companies are adopting an adaptive and responsive culture to enhance their competitive edge. By implementing automation, mining companies are able to synchronize the demand chain, improve customer service, and boost sales and profits. Due to the decreasing availability of minerals and aging mines, autonomous systems are being utilized to aid crewed vehicles by providing them with real-time information on their location, collision warnings, and other features to make driving easier. The continual advancements in robotics, Artificial Intelligence (AI), and Machine Learning (ML) have enabled businesses to pursue automation and increase production efficiency. By leveraging AI and ML, companies can create predictive models that identify potential deposit locations with similar features.
Mining companies are turning to automation technologies in order to enhance their production efficiency and cut down on costs, as the demand for minerals and metals continues to rise. The need to improve the safety of workers in mines, reduce operational costs, and manage fleets and monitoring systems remotely, are the primary drivers behind the growth of the mining automation market. The emergence of advanced technologies, such as Artificial Intelligence (AI) and robotics, has led to increased adoption of mining automation solutions to improve production efficiency. The growing adoption of innovative technologies is propelling the expansion of automated mining solutions. Nevertheless, the high costs of buying and maintaining automated equipment and solutions will likely slow the industry's growth. As a result of mining automation taking over most manual tasks, including entry-level mining positions, there has been a decline in job opportunities for unskilled laborers, which acts as an impediment to the growth of the market.
The global mining automation market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is projected to experience substantial growth in mining automation due to the increasing awareness and implementation of automation in mining activities by leading mining companies. European countries are self-sufficient in a wide range of minerals and metals. Many countries in Europe are promoting sustainable material value chains in terms of environmental sustainability and socio-economic factors, which is driving the growth of mining automation. The consumption of minerals and metals in the Asia Pacific region is substantial, owing to significant economic development in China and India. Government and private companies are investing a significant amount of money in improving mining activities, which is paving the way for the progressive adoption of mining automation in the Asia Pacific. The abundant availability of metals and natural resources in the Middle East and Africa makes it a top choice for mining activities. Companies are deploying automated equipment for controlling and monitoring mining activities, which is expected to drive the market growth of mining automation.
| Report Coverage | Details |
|---|---|
| Market Size in 2022 | Over USD 2.6 Billion |
| Market Size by 2030 | About USD 4.4 Billion |
| Growth Rate from 2023 to 2030 | CAGR of More than 6% |
| Largest Market | North America |
| No. of Pages | 255 |
| Market Drivers |
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| Market Segmentation | By Solution, By Application , and By Technique |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global mining automation market covers segments such as solution, application , and technique. On the basis of solution, the sub-markets include software automation, equipment automation, and services. On the basis of application , the sub-markets include mineral mining, metal mining, and coal mining. On the basis of technique, the sub-markets include underground mining automation, and surface mining automation.
The report provides profiles of the companies in the market such as Atlas Copco AB, Autonomous Solutions Inc., Caterpillar, Hitachi Construction Machinery Co., Ltd., MST Global, Rockwell Automation, RPMGlobal Holdings Limited, Sandvik AB, Siemens, and Trimble Inc..
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the mining automation market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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