This report is designed for companies and decision-makers seeking actionable insights on market size, growth, trends, and competitive strategies to drive expansion and success in the Connected Mining industry._x000D_
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What is the current market size of the connected mining industry, and what growth rate is it expected to achieve?_x000D_
The connected mining market size has grown rapidly in recent years. It will grow from $15.31 billion in 2024 to $17.37 billion in 2025 at a compound annual growth rate (CAGR) of 13.4%. The growth in the historic period can be attributed to increased resource extraction demands, advances in sensor technologies, cost reduction pressures, remote monitoring and control needs, safety and environmental regulations._x000D_
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The connected mining market size is expected to see rapid growth in the next few years. It will grow to $31.45 billion in 2029 at a compound annual growth rate (CAGR) of 16.0%. The growth in the forecast period can be attributed to increased focus on sustainability and ESG practices, rising energy costs and environmental concerns, growing demand for minerals and metals, need for improved safety and productivity, rising energy costs and environmental concerns. Major trends in the forecast period include digital twin technology in mining operations, edge computing for real-time data processing, robotics and automation in mining processes, blockchain for transparent and secure transactions, cloud-based platforms for collaborative mining operations._x000D_
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What are the major drivers contributing to the growth of the connected mining market?_x000D_
Increasing demand for digitalization is expected to propel the growth of the connected mining market going forward. Digitalization is the transition to a digital business that involves the use of digital technologies to alter a business model and offer new revenue and value-producing opportunities. Digitalization in connected mining involves the usage of advanced technology such as mixed reality, automation, IoT-driven temperature sensors, and others. For instance, in May 2022, according to the International Business Machines Corporation (IBM), a US-based technology company, 35% of businesses worldwide used artificial intelligence (AI) in 2022, which is an increase of 4% from 2021.In addition, there was a 13% increase in organizations adopting artificial intelligence (AI) in 2022 compared to 2021. Therefore, the increasing demand for digitalization is driving the connected mining market growth._x000D_
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What are the major market segments driving the growth of the connected mining industry?_x000D_
The connected mining market covered in this report is segmented –_x000D_
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1) By Component: Solution, Services_x000D_
2) By Mining Type: Surface, Underground_x000D_
3) By Deployment Mode: On-premises, Cloud_x000D_
4) By Application: Exploration, Processing and Refining, Transportation_x000D_
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Subsegments:_x000D_
1) By Solution: Asset Tracking And Optimization, Industrial Safety And Security, Analytics And Reporting, Process Control, Operational Performance, Quality Optimization Solutions_x000D_
2) By Services: Professional Services, Managed Services_x000D_
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What are the key trends shaping the connected mining market in the forecast period?_x000D_
Major companies operating in the connected mining market are prioritizing advancements in digital technologies, such as IoT and data analytics, to enhance operational efficiency, safety, and sustainability in mining operations. ABB Care for Hoisting is a proactive maintenance service from ABB designed to enhance the performance and availability of mining hoisting systems while minimizing downtime through advanced services and digital technologies For instance, in September 2024, ABB Ltd. a Switzerland-based automation company, ABB has launched a new suite of service offerings called ABB Care for Mining Automation and ABB Care for Hoisting. These services are designed to transition mining operations from traditional reactive maintenance to more proactive solutions, enhancing productivity and operational health while minimizing downtime. ABB’s Care framework offers proactive and preventive services that ensure operations run smoothly and efficiently._x000D_
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Who are the key market players contributing to the growth of the connected mining industry?_x000D_
Major companies operating in the connected mining market include ABB Ltd., International Business Machines Corporation (IBM), SAP SE, Cisco Systems Inc., Schneider Electric SE, Caterpillar Inc., Komatsu Ltd., Hitachi Construction Machinery Co. Ltd., Hexagon AB, Sandvik AB, Epiroc AB, Wenco International Mining Systems Ltd., MineWare Pty Ltd., RPMGlobal Holdings Limited, Siemens AG, Rockwell Automation Inc., Trimble Inc., OSIsoft LLC, Maptek Pty Ltd., Dassault Systèmes SE, IntelliSense. io Ltd., Motion Metrics International Corp., MST Global Pty Ltd., Fluidmesh Networks LLC, Swift Navigation Inc., MineSense Technologies Ltd., Micromine Pty Ltd._x000D_
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Which regions are leading the growth of the connected mining market globally?_x000D_
North America was the largest region in the connected mining market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the connected mining market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa_x000D_
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How Can Companies Use The Connected Mining Market Report to Drive Business Results?_x000D_
This report provides actionable insights tailored for business use—not academic analysis. Companies can leverage the data to:_x000D_
• Time market entry or expansion using growth forecasts and CAGR trends._x000D_
• Develop competitive products by tracking key technology shifts and user preferences._x000D_
• Tailor regional strategies with in-depth geographic data and local market dynamics._x000D_
• Benchmark and plan partnerships using competitive landscape insights._x000D_
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