Overview and Scope
Mining automation refers to the process of mining by removing human labour and using mining equipment like robotic components, GPS, and advanced software that increases production. They are used to reduce capital and labour costs and to gain full control of the operations.
Sizing and Forecast
The mining automation market size has grown strongly in recent years. It will grow from $3.74 billion in 2023 to $4.01 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to cost efficiency, safety concerns, labor shortages, operational optimization, remote monitoring and control, environmental compliance..
The mining automation market size is expected to see strong growth in the next few years. It will grow to $5.44 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to energy efficiency initiatives, autonomous vehicles and equipment, customization and scalability, sustainable mining practices, market competition.. Major trends in the forecast period include integration of ai and machine learning, iot and connectivity, blockchain for supply chain transparency, digital twin technology, advanced sensor technologies, autonomous vehicles and equipment..
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Segmentation & Regional Insights
The mining automation market covered in this report is segmented –
1) By Offering: Equipment, Software, Communication System
2) By Technique: Surface Mining, Underground Mining
3) By Workflow: Mine Development, Mining Process, Mine Maintenance
4) By Application: Metal Mining, Mineral Mining, Coal Mining
Asia-Pacific was the largest region in the mining automation market in 2023. The regions covered in the mining automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Rising demand for mining activities is expected to propel the growth of the mining automation market going forward. Mining activities refer to extraction activities that are connected to getting valuable or useful minerals from the Earth. They are the activities directly involved in mineral and metal exploration and production. Mining automation minimises production loss and improves safety and productivity in mineral activities, so an increase in mineral activities will propel market growth. For instance, in 2022, according to S&P Global Inc., a US-based leading provider of iconic and innovative index solutions, the global exploration budgets increased by 35% to $11.24 billion in 2021 from $8.35 billion in 2020. Furthermore, global exploration activity increased by 70% in 2021, from 27854 drill holes in 2020 to 68,880 drill holes in 2021. Therefore, the rising demand for mining activities is driving the mining automation market. Therefore, the rising demand for mining activities is driving the mining automation market.
Key Industry Players
Major companies operating in the mining automation market report are Hexagon AB, Rockwell Automation Inc., Komatsu Ltd., Rio Tinto Group, Autonomous Solutions Inc., Sandvik AB, Caterpillar Inc., Hitachi Construction Machinery Co. Ltd., RPM Global Holdings Limited, Trimble Inc., Siemens Aktiengesellschaft, Mine Site Technologies Pty. Limited, Symboticware Inc., ABB Ltd., Epiroc AB, Atlas Copco AB, Remote Control Technologies Pty. Ltd., AB Volvo, Fluidmesh Networks LLC, Joy Global Inc., Cisco Systems Inc., Schneider Electric SE, Wenco International Mining Systems Ltd., MST Global, MineSense Technologies Ltd., Mobilaris Mining Intelligence, IntelliSense.io, MineWare Pty. Ltd., Maptek Pty. Ltd., Micromine Pty.Ltd.
The mining automation market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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The introduction of automation eliminates human labor form process associated with mining.
The report reveals about ongoing trends, market size, growth opportunities, and competitive landscape.MRFR study on the global mining automation market states that the market can expand at 8.6% CAGR.
MRFR recorded the worldwide market at USD 2.31 Bn in 2018.
The penetration of automation solutions in mining processes can cause escalation in the valuation of the mining automation market.
Control systems, robots, computers, programmable controllers, and technology sets are utilized by automation solutions that increase efficacy and productivity of operations.Intensive mining activities, such as loading, drilling, transporting, and hauling among others are automated using automation control devices, such as programmable logic controllers (PLCs), software, PCs, and distributed control systems (DCS).
Thereby, curbing the high risk of miners’ health.
The global Smart Home Automation Market size is anticipated to be USD 130.0 billion by the end of 2025, as per a latest report by Million Insights.
The increasing need for real-time and remote control of smart homes is attributing to the growth of the market.
Additionally, rising geriatrics population coupled with rapid urbanization has resulted in increasing adoption of smart home solutions to cater to the challenges.
Further, increasing smartphone penetration and internet connectivity are boosting the industry growth prospect of the market.
Increasing adoption of automation in lighting, energy management, smart kitchen and HVAC are estimated to augment the market growth.
Key Players:Control4 CorporationSiemens AGLegrand SASchneider Electric Request free sample to get a complete analysis of top-performing companies @ https://www.millioninsights.com/industry-reports/global-smart-home-automation-market/request-sample Market Synopsis of Smart Home Automation Market: Based on technology, the market is categorized into wireless, cellular and others.
