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The global digital mining sector is expected to experience significant growth from its 2023 valuation of $11.79B, thanks to a predicted revenue CAGR of 18.5% from 2023 to 2030.
There are a number of factors that are pushing the market toward higher profits, including the necessity to guarantee the safety of mine workers, the widespread use of automation platforms in the mining industry, and the desire for real-time analysis. Digital mining refers to the utilization of computerized digital technologies in mining activities. All of the services and solutions that make up this system have one common goal: to help mining companies manage and optimize their production and operational activities. Mining companies can enhance their processes, increase their productivity, and decrease their overall mining costs by integrating digital technology into their operations. New technical advancements have substantially mitigated the numerous issues with conventional exploration methods. Digital mining operations involve the use of instruments such as autonomous vehicles and 3D modeling technology to remotely oversee mining operations and build models of underground mining sites.
"Digital mining" refers to the practice of conducting all mining operations digitally. These products and services can help mine operations and output be better controlled and optimized. Digital mining has numerous potential applications in the mining industry, including the automation of record keeping, data storage, monitoring, and the optimization of production, supply chain, asset, and risk management.
Through digital mining, manufacturers are developing and executing a variety of safety measures to guarantee the safety of mine plants, employees, and the environment. The rising toll of workplace fatalities and injuries is fueling the digital mining industry's need. The high implementation cost is a big deterrent for small and medium-sized firms looking to incorporate digital mining into their operations, which in turn limits the industry's growth. With the rise of the internet of things, digital mining has become more important and could lead to expansion in the industry. The acceptance of digital mining without adequate technical expertise threatens the expansion of the digital mining industry, similar to the problems countries were facing with technically qualified laborers due to expanding technology and innovation.
Robots and automation, cybersecurity, real-time analytics, and other state-of-the-art technology are utilized in digital mining. Businesses in the mining industry can automate mining processes with the use of software and physical devices thanks to automation and robotics technology. This helps to reduce the need for human labor. Mining operations that use robotics and automation have the potential to produce more with less effort and at lower expense. One such technology is real-time analytics, which can give insights in real-time through mathematical and logical procedures.
With capabilities like real-time planning, Predictive Maintenance, risk assessment, and record keeping, it improves mining system efficiency and enables faster decision-making. The mining industry also makes extensive use of cybersecurity technology. The likelihood of cyberattacks and other threats is increasing dramatically due to the increasing automation and reliance of mining operations on digital technology. Cyber assaults can lead to a variety of negative results, including but not limited to: decreased output or revenue, environmental damage, regulatory fines, reputational injury, and even death or catastrophic damage to infrastructure.
Over the forecast period, many factors are anticipated to propel revenue growth in the global digital mining market. Some of these factors include the following: the constant improvement of mining technology; the rising demand for minerals like coal, iron ore, copper, graphite, manganese, and gold; the introduction of sophisticated analytical tools like Machine Learning and Big Data; the tightening of regulations pertaining to workplace safety; and the increasing worry over system security.
The national section of the research also includes details on specific market-influencing factors and changes in local market laws that have an effect on current and future market trends. New sales, replacement sales, national demographics, regulatory acts, import-export tariffs, and other crucial data factors help forecast the market environment for certain countries. We also consider the presence and availability of global brands, the challenges faced by these companies due to strong or weak competition from local and domestic brands, and the influence of sales channels when we analyze national data for projections.
Report Coverage
Global Digital Mining research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Digital Mining report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Digital Mining competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Digital Mining market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Digital Mining market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Digital Mining market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ABB, Siemens, Rockwell Automation, Inc., SAP SE, Wipro Limited, Wencomine. (A Subsidiary of Hitachi Construction Machinery Co., Ltd.), Cisco Systems, Inc., Caterpillar., GENERAL ELECTRIC, Sandvik AB, HEXAGON, IBM corporation, Hatch Ltd., Wabtec Corporation., Komatsu Mining Corp (A Subsidiary of Komatsu Ltd.), Accenture, Trimble Inc., Schneider Electric, BENTLEY SYSTEMS, INCORPORATED and Tech Mahindra Limited among others.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Digital Mining market based on the below-mentioned segments:
Global Digital Mining Market, By Mining Type
Underground Mining
Surface Mining
Hybrid Mining
Global Digital Mining market, By Application
Exploration and Geology Management
Fleet Management
Asset and Maintenance Management
Mineral Processing and Recovery
Safety and Security Management
Supply Chain Management
Others
Global Digital Mining Market, By Technology
Internet of Things (IoT)
Artificial Intelligence (AI) and Machine Learning (ML)
Big Data and Analytics
Robotics and Automation
Virtual Reality (VR) and Augmented Reality (AR)
Others
Global Digital Mining market, Regional Analysis
There are a number of factors that are pushing the market toward higher profits, including the necessity to guarantee the safety of mine workers, the widespread use of automation platforms in the mining industry, and the desire for real-time analysis. Digital mining refers to the utilization of computerized digital technologies in mining activities. All of the services and solutions that make up this system have one common goal: to help mining companies manage and optimize their production and operational activities. Mining companies can enhance their processes, increase their productivity, and decrease their overall mining costs by integrating digital technology into their operations. New technical advancements have substantially mitigated the numerous issues with conventional exploration methods. Digital mining operations involve the use of instruments such as autonomous vehicles and 3D modeling technology to remotely oversee mining operations and build models of underground mining sites.
"Digital mining" refers to the practice of conducting all mining operations digitally. These products and services can help mine operations and output be better controlled and optimized. Digital mining has numerous potential applications in the mining industry, including the automation of record keeping, data storage, monitoring, and the optimization of production, supply chain, asset, and risk management.
Through digital mining, manufacturers are developing and executing a variety of safety measures to guarantee the safety of mine plants, employees, and the environment. The rising toll of workplace fatalities and injuries is fueling the digital mining industry's need. The high implementation cost is a big deterrent for small and medium-sized firms looking to incorporate digital mining into their operations, which in turn limits the industry's growth. With the rise of the internet of things, digital mining has become more important and could lead to expansion in the industry. The acceptance of digital mining without adequate technical expertise threatens the expansion of the digital mining industry, similar to the problems countries were facing with technically qualified laborers due to expanding technology and innovation.
Robots and automation, cybersecurity, real-time analytics, and other state-of-the-art technology are utilized in digital mining. Businesses in the mining industry can automate mining processes with the use of software and physical devices thanks to automation and robotics technology. This helps to reduce the need for human labor. Mining operations that use robotics and automation have the potential to produce more with less effort and at lower expense. One such technology is real-time analytics, which can give insights in real-time through mathematical and logical procedures.
With capabilities like real-time planning, Predictive Maintenance, risk assessment, and record keeping, it improves mining system efficiency and enables faster decision-making. The mining industry also makes extensive use of cybersecurity technology. The likelihood of cyberattacks and other threats is increasing dramatically due to the increasing automation and reliance of mining operations on digital technology. Cyber assaults can lead to a variety of negative results, including but not limited to: decreased output or revenue, environmental damage, regulatory fines, reputational injury, and even death or catastrophic damage to infrastructure.
Over the forecast period, many factors are anticipated to propel revenue growth in the global digital mining market. Some of these factors include the following: the constant improvement of mining technology; the rising demand for minerals like coal, iron ore, copper, graphite, manganese, and gold; the introduction of sophisticated analytical tools like Machine Learning and Big Data; the tightening of regulations pertaining to workplace safety; and the increasing worry over system security.
The national section of the research also includes details on specific market-influencing factors and changes in local market laws that have an effect on current and future market trends. New sales, replacement sales, national demographics, regulatory acts, import-export tariffs, and other crucial data factors help forecast the market environment for certain countries. We also consider the presence and availability of global brands, the challenges faced by these companies due to strong or weak competition from local and domestic brands, and the influence of sales channels when we analyze national data for projections.
Report Coverage
Global Digital Mining research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Digital Mining report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Digital Mining competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Digital Mining market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2023 |
| Forecast Period | 2023-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | ABB, Siemens, Rockwell Automation, Inc., SAP SE, Wipro Limited, Wencomine. (A Subsidiary of Hitachi Construction Machinery Co., Ltd.), Cisco Systems, Inc., Caterpillar., GENERAL ELECTRIC, Sandvik AB, HEXAGON, IBM corporation, Hatch Ltd., Wabtec Corporation., Komatsu Mining Corp (A Subsidiary of Komatsu Ltd.), Accenture, Trimble Inc., Schneider Electric, BENTLEY SYSTEMS, INCORPORATED and Tech Mahindra Limited among others. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Digital Mining Market from 2021 to 2031.
- Market Forecast for Digital Mining Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Digital Mining competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Digital Mining
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Digital Mining market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Digital Mining market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ABB, Siemens, Rockwell Automation, Inc., SAP SE, Wipro Limited, Wencomine. (A Subsidiary of Hitachi Construction Machinery Co., Ltd.), Cisco Systems, Inc., Caterpillar., GENERAL ELECTRIC, Sandvik AB, HEXAGON, IBM corporation, Hatch Ltd., Wabtec Corporation., Komatsu Mining Corp (A Subsidiary of Komatsu Ltd.), Accenture, Trimble Inc., Schneider Electric, BENTLEY SYSTEMS, INCORPORATED and Tech Mahindra Limited among others.
Primary Target Market
- Market Players of Digital Mining
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Digital Mining market based on the below-mentioned segments:
Global Digital Mining Market, By Mining Type
Underground Mining
Surface Mining
Hybrid Mining
Global Digital Mining market, By Application
Exploration and Geology Management
Fleet Management
Asset and Maintenance Management
Mineral Processing and Recovery
Safety and Security Management
Supply Chain Management
Others
Global Digital Mining Market, By Technology
Internet of Things (IoT)
Artificial Intelligence (AI) and Machine Learning (ML)
Big Data and Analytics
Robotics and Automation
Virtual Reality (VR) and Augmented Reality (AR)
Others
Global Digital Mining market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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