The global Digital Mining Market It's interesting to note that the market size was USD 11.69 Billion in 2020 and is expected to register a revenue CAGR of 13.5% during the forecast period. Rising concerns regarding the safety of mining workers, the need for real-time analysis, and the increasing application of automation platforms in mining industries are some of the key factors driving the market's revenue growth. Digital mining, which involves the application of computerized digital technology in mining activities, helps mining companies minimize overall mining costs, enhance business productivity, and upgrade mining practices. The use of advanced technology such as 3D modeling, unmanned vehicles, and remote control systems has significantly improved mining exploration methods and made mining operations safer and more efficient.
Digital mining also applies several advanced technologies such as automation robotics, real-time analytics, cybersecurity, and others. Automation robotics technology allows mining companies to minimize human labor requirements and automate mining activities by using physical machines and software. Automation robotics segment accounted for largest revenue share in the global market in 2020. Increasing application of automation and robotics due to various advantages such as less labor requirement, enhanced efficiency, and low time requirement are some key factors driving revenue growth in this segment.
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The information and communication technology sector is rapidly gaining traction owing to rapid technological advancements, high demand for smartphones, laptops, computers and other modern electronic devices, and increasing adoption of latest technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and cloud services. The ICT sector consists of several sections, software, hardware, telecommunications and other services. Factors such as increasing demand for advanced ICT services in BFSI, agriculture, retail, hospital and healthcare, rapid adoption of digitalization, rising number of internet users and high demand of advanced services and devices are expected to drive global market revenue growth during the forecast period. Other factors such as increasing need for managing large data base, rising concerns about data security and increasing investments in RD activities are expected to boost market growth during the forecast period.
Competitive Landscape:
Mining operations are often carried out in hazardous environments, and workers' health and safety are major concerns for the industry. The adoption of digital mining technologies is helping to mitigate these risks by reducing the need for human workers in dangerous areas and allowing for remote monitoring and control of operations. In addition, the use of advanced technology and analytical software that offers real-time insights and predictions is expected to drive demand for digital mining technologies in the future. This will enable mining companies to optimize their operations, reduce costs, and increase productivity while ensuring the safety and well-being of their workers.
Some leading companies operating in the global Digital Mining Market:
Caterpillar, Sandvik AB, SAP, Schneider Electric, Rockwell Automation, Inc., GE, Siemens, Komatsu Mining Corp., IBM, and Bentley Systems.
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The global market is further segmented into type and application:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Underground Mining
- Surface Mining
Technology Outlook (Revenue, USD Billion; 2018-2028)
- Automation Robotics
- Real-Time Analytics
- Cybersecurity
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Iron Ferro Alloys
- Non-Ferrous Metals
- Precious Metals
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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