Digital Mining Market Going To Hit USD 20.0 Billion By 2025 | Key Player – Caterpillar,Sandvik AB,SAP,ABB,Rockwell Automation, Inc.,GE,Siemens,Komatsu Mining Corp.,IBM,and Hexagon AB.

Digital Mining Market Going To Hit USD 20.0 Billion By 2025 | Key Player - Caterpillar,Sandvik AB,SAP,ABB,Rockwell Automation, Inc.,GE,Siemens,Komatsu Mining Corp.,IBM,and Hexagon AB.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research,T he growing need for safety of mine workers on account of increasing injuries during mining is one of the primary drivers for the rise in demand for digital mining solutions.

According to a report, “Digital Mining Market Size, Share & Trends Analysis Report By Technology (Automation & Robotics, Real Time Analytics), By Application (Iron & Ferro Alloys, Non-ferrous Metals), By Region, And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc.,The global digital mining market size is expected to reach USD 20.0 billion by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 13.2% over the forecast period. Growing adoption of automation platforms in mining exploration activities is projected to remain a key factor over the forecast period.

The mining sector is witnessing a prominent growth owing to the increased penetration of digitization for activities including mineral exploration to downstream sales. Moreover, it assists in safety and health and reduces the environmental impact in the sector. Automation and robotics in this sector are likely to offer numerous opportunities owing to the growing replacement of human-controlled machinery with digital hardware enabled tools.

Komatsu is a leading mining and construction equipment provider and is also known for the development of new and innovative mining platforms. In September 2019, Komatsu announced a collaboration with BHP for its Pilbara operations in Western Australia. Under this deal, Komatsu will deploy 41 automated haul trucks at iron operations in Pilbara.

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The non-ferrous metals segment is expected to register the highest CAGR of 13.6% from 2019 to 2025. Global demand for rechargeable batteries and electric vehicles is expected to drive the growth of the non-ferrous mining sector. In addition, this sector is also witnessing increased spending on digital solutions. For instance, Hindustan Zinc, a leading player in the zinc industry, has collaborated with Sandvik to boost its productivity through digitization of operations and activities.

Artificial intelligence, blockchain, and digital twin are some of the key technologies that are projected to attract new investments in the market. Recently, MineHub Technologies launched a new IBM blockchain-based platform to improve logistics and operational efficiency and reduce costs in the high value mineral supply chain.

U.S. digital mining Market

Further key findings from the report suggest:

  • Automation and robotics technology held the largest market share of 43.3% in 2018. Efforts toward increasing productivity and need to ensure safety of workers are the key factors driving the growth of the segment

  • Other emerging technologies such as artificial intelligence, blockchain, and digital twin are likely to register a CAGR of 13.3% from 2019 to 2025. Rising R&D spending on these technologies is anticipated to remain a key factor driving the growth of these technologies

  • The iron and ferro alloys segment accounted for a market share of 35.2% in 2018. Rise in production of steel and related products and growing consumer demand result in an increase in digital investments in this segment

  • The precious metals segment is projected to register a CAGR of 12.3% from 2019 to 2025. Increasing spending by gold companies on digitization of exploration activities is driving the growth of this segment

  • Asia Pacific is projected to continue its dominance in the market and is anticipated to register a CAGR of 14.4% over the forecast period. The sheer size of the mining sector and the increasing adoption of digital technologies are the key factors driving the growth of the regional market

  • The key vendors in the market include Komatsu; Caterpillar; IBM; Rockwell Automation Inc.; GE; Siemens; Sandvik; and SAP. Major players in this market focus on collaborating with mining giants such as BHP, Rio Tinto, and Vale SA.

Application Insights

Based on application, the market has been segmented into iron and ferro alloys, non-ferrous metals, and precious metals. The iron and ferro alloys segment accounted for a market share of 35.2% in 2018. The growing demand for steel and related alloys in construction, transportation, heavy machinery, and consumer durable industries indirectly drives the digital mining market. In order to improve production output and utilize maximum capacities, companies such as Rio Tinto, BHP, and Vale SA have deployed various digital technologies for their operations.

Global digital mining Market

Increasing demand for non-ferrous metals such as aluminum, copper, and zinc has led to the digitalization of operations in order to support the growing demand for these metals. Lightweight materials such as aluminum are increasingly used in automobiles in order to improve fuel efficiency and curb pollution to reduce the environmental impact. Non-ferrous metalsis projected to register the highest CAGR of 13.6% from 2019 to 2025.

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Precious metal companies such as Newmont Mining Corporation; Barrick Gold Corporation; Newcrest Mining Limited; and Goldcorp Inc. are some early adopters of digital technologies in the market. For instance, Goldcorp Inc. developed a digital strategy to optimize its mine lifecycle through autonomous fleet, advanced process control, smart mines, and advanced analytics.

Grand View Research has segmented the global digital mining market on the basis of technology, application, and region:

Digital Mining Technology Outlook (Revenue, USD Million, 2014 – 2025)

  • Automation and robotics

  • Real time analytics

  • Cybersecurity

  • Others (AI, Blockchain etc.)

Digital Mining Application Outlook (Revenue, USD Million, 2014 – 2025)

  • Iron & ferro alloys

  • Non-ferrous metals

  • Precious metals

Digital Mining Regional Outlook (Revenue, USD Million, 2014 – 2025)

  • North America

    • U.S.

    • Canada

    •  Mexico

  • Europe

    • Russia

    •  Turkey

  • Asia Pacific

    • China

    • Australia

    • India

    • Indonesia

  • Central and South America

    • Brazil

    •  Chile

  • Middle East & Africa

    • South Africa

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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