The global Mining Automation Market size is expected to reach USD 8.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.3% from 2022 to 2030. The increasing demand for accuracy and productivity required during mining activities is the high impact rendering driver for the market. The growing adoption of the automated mining is attributed to the advantages associated with automated systems. For instance, in January 2022, Hexagon AB, one of the eminent players in digital reality solutions combining sensors, independent technology, and software programs, acquired Minnovare, one of the prominent players in drilling technology that enhances the cost, speed, and accuracy of drilling underground. The initiative aims to strengthen and accelerate Hexagon AB’s underground roadmap and strengthen the drill and blast portfolio.
The industry witnesses the adoption of drones as a
step towards the evolution of unmanned and aerial data collection technology at
mining sites. The automated drone system is poised to become an essential
strategic part of the future of mining. For instance, in June 2020, Caterpillar
Inc., a manufacturer in the construction, mining, and transportation sector,
acquired Marble robots Inc, which operates as a robotic company that includes
machinery for package delivery, prescriptions, and groceries. The initiative
aims to expand Robotization and autonomy strategy and demonstrates its
commitment to the coming generation of Jobsite results. Structure on its
leadership in independent mining, the company plans to work and bring scalable
results to meet the changing requirements of construction, chase, artificial,
and waste diligence.
Additionally, the implementation of Geographic
Information System (GIS) in mineral exploration activities has supplemented the
market growth. GIS enables mining professionals to perform in-depth analysis
and get insights on mineral mining, evaluate mining conditions, and display
geochemical or hydrological data. The transition from conventional mining
techniques to automation has negatively impacted the market. The incorporation
of drones, autonomous machinery, and sensors has substantially affected the
local employment at the mine sites. Moreover, skilled workers that specialize
in handling remotely automated and controlled systems are expected to be in
demand. For instance, in September 2021, ABB launched eMine, a fast and
powerful truck charging that helps and diverts toward a zero-carbon mine,
making an all-electric mine possible with electrification and a digital system.
They also unveiled the piloting of the groundbreaking capability and gave
FastCharge, one of the most crucial charging systems designed to affiliate with
all makes of electric mining.
Furthermore, the upcoming concept in mining operations
is the use of central or virtual control room that monitors several mines in
distant sites from a single location. The virtual control room is expected to
facilitate benchmarking and comparison of identical processes at different
plants. For instance, in January 2022, Accenture, a services-based company that
provides a wide range of services in interactive, strategy, and consulting
technology and operations, collaborated with Celonis. This data processing
company sells software as a service (SaaS) to enhance business processes, and
it has formed a partnership to work in process mining. They both have to create
an alliance to help the organization gain some insights through which they
update and optimize their business process. Accenture has set Celonis’
data-driven operation and capabilities into its tools and platforms to give new
situations and insights to inform decision-making.
Related Press Release@ Mining Automation Market Report
Mining Automation Market Report
Highlights
- The equipment automation solution segment is expected to witness a
CAGR of over 7.5% over the forecast period. Retrofitting the mining
equipment with automated technology is expected to substantially
contribute to segment growth
- The autonomous trucks are expected to dominate the market over the
forecast period. Increased deployment of autonomous trucks at the mining
sites to increase productivity and safety of the workers is expected to
keep the segment buoyant
- The metal mining application segment is expected to witness a CAGR
of over 6.9% over the forecast period. Increased gold exploration
activities globally are expected to account for segment growth
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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