Market Overview:
The global digitalization in mining market is expected to grow at a CAGR of 9.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for minerals and metals, rising awareness about safety and security in mines, and growing adoption of digital technologies across different segments of the mining industry. The global digitalization in mining market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into software, hardware, and solutions. Software dominates the overall type segment owing to its ability to offer a wide range of features such as mine planning & design; production management; fleet management; resource & reserve estimation; safety & security monitoring; blasting optimization; pit optimization etc., which helps improve operational efficiency across different segments of mines. By application, underground mining dominates the overall application segment owing to factors such as increasing demand for coal & other minerals in developing countries such as China and India), stringent government regulations with respect to environment protection (in developed countries), technological advancements (in terms deployment autonomous vehicles/robots for underground operations) etc., However open-pit mining is expected witness highest growth during forecast period due high potential associated with it especially from regions such as Latin America where there are large number unexplored reserves waiting to be tapped into).
Product Definition:
Digitalization is the process of converting information into a digital format. This can include converting physical documents into digital files, or digitizing processes that were once done manually. The purpose of digitalization is to make it easier to store, access, and share information.
In mining, digitalization has been used to improve safety.
-Automated systems that control equipment such as trucks.
Software:
Software is the collection of tools and techniques which are used to carry out a specific task or series of tasks. In digitalization in mining market, software refers to all the electronic devices and their supporting components that help automate processes in extracting valuable minerals from the earth. The growth factor for software is its ability to make work easier by streamlining operations, increasing accuracy while decreasing costs.
Hardware:
Hardware is the part of digitalization in mining market which includes devices such as Hard Disk Drive (HDD), Solid State Drive (SSD) and Graphics Processing Unit(GPU). The hardware used for mining purposes has evolved over time. Initially, the equipment was manual and then came automated systems. Currently, there are various types of hardware available to perform specific tasks including proof-of-work, creating a blockchain record of transactions or securing the network.
Application Insights:
The application segment has been further categorized into underground mining, open-pit mining, and others. The global digitalization in the underground mining sector dominated the market in 2017 owing to a number of advantages offered by it such as real-time monitoring of operations; on-the-fly data processing; and easy access to information for improving overall productivity. Furthermore, companies such as Boliden Group (former Teledyne), Goldcorp Inc., Newmont Mining Corporation, Barrick Gold Corporation, and Newcrest Mining Limited are some of the major players offering advanced solutions for digital transformation in the underground mines.
Open pit mining is expected to witness significant growth over the forecast period due to its wide applications including surface mine operation optimization; safety & security monitoring; workforce management & scheduling; asset utilization analysis & reporting etcetera.
Regional Analysis:
Asia Pacific dominated the global market in 2017. This is attributed to the presence of a large number of mining companies in China, Australia, and India. The region will retain its dominance throughout the forecast period owing to increasing investments by various governments for developing mines and related infrastructure.
The European market is expected to grow at a significant rate over the forecast period due to growing demand from countries such as Germany, France, Italy, U.K., Spain among others for digitizing equipment and software used in mines exploration & production (E&P).
In Latin America regional market growth can be attributed primarily to open-pit mining activities that dominate this region’s industry landscape across major economies including Chile.
Growth Factors:
- Increased demand for minerals and metals due to the growth of the manufacturing sector in developing countries.
- Rapid urbanization and industrialization in emerging markets is resulting in an increase in the demand for mineral resources, which is boosting the mining industry's growth prospects.
- Rising awareness about environment-friendly mining practices that reduce wastage and conserve natural resources is encouraging companies to adopt digital technologies for efficient operations.
- The increasing use of drones, sensors, and other advanced technologies for exploration and mapping is helping miners identify new mineral deposits at a lower cost.
Scope Of The Report
Report Attributes
Report Details
Report Title
Digitalization in Mining Market Research Report
By Type
Software, Hardware, Solutions
By Application
Underground Mining, Open-Pit Mining
By Companies
Caterpillar Inc., ABB, Honeywell, Wipro, IBM Services, Hatch Ltd, Hexagon Mining Inc., Rockwell, Sandvik, Cisco, BCG, Siemens, Performance International Pty Ltd
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
234
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Digitalization in Mining Market Report Segments:
The global Digitalization in Mining market is segmented on the basis of:
Types
Software, Hardware, Solutions
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Underground Mining, Open-Pit Mining
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Caterpillar Inc.
- ABB
- Honeywell
- Wipro
- IBM Services
- Hatch Ltd
- Hexagon Mining Inc.
- Rockwell
- Sandvik
- Cisco
- BCG
- Siemens
- Performance International Pty Ltd
Highlights of The Digitalization in Mining Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Software
- Hardware
- Solutions
- By Application:
- Underground Mining
- Open-Pit Mining
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Digitalization in Mining Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Digitalization in mining is the process of transforming physical assets into digital form. This can include anything from digitizing data to creating a digital model of an asset. It can also involve moving physical assets around or even destroying them in order to create a more efficient and accurate digital model.
Some of the major companies in the digitalization in mining market are Caterpillar Inc., ABB, Honeywell, Wipro, IBM Services, Hatch Ltd, Hexagon Mining Inc., Rockwell, Sandvik, Cisco, BCG, Siemens, Performance International Pty Ltd.
The digitalization in mining market is expected to grow at a compound annual growth rate of 9.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Digitalization in Mining Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Digitalization in Mining Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Digitalization in Mining Market - Supply Chain
4.5. Global Digitalization in Mining Market Forecast
4.5.1. Digitalization in Mining Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Digitalization in Mining Market Size (000 Units) and Y-o-Y Growth
4.5.3. Digitalization in Mining Market Absolute $ Opportunity
5. Global Digitalization in Mining Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Digitalization in Mining Market Size and Volume Forecast by Type
5.3.1. Software
5.3.2. Hardware
5.3.3. Solutions
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Digitalization in Mining Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Digitalization in Mining Market Size and Volume Forecast by Application
6.3.1. Underground Mining
6.3.2. Open-Pit Mining
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Digitalization in Mining Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Digitalization in Mining Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Digitalization in Mining Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Digitalization in Mining Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Digitalization in Mining Demand Share Forecast, 2019-2026
9. North America Digitalization in Mining Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Digitalization in Mining Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Digitalization in Mining Market Size and Volume Forecast by Application
9.4.1. Underground Mining
9.4.2. Open-Pit Mining
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Digitalization in Mining Market Size and Volume Forecast by Type
9.7.1. Software
9.7.2. Hardware
9.7.3. Solutions
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Digitalization in Mining Demand Share Forecast, 2019-2026
10. Latin America Digitalization in Mining Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Digitalization in Mining Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Digitalization in Mining Market Size and Volume Forecast by Application
10.4.1. Underground Mining
10.4.2. Open-Pit Mining
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Digitalization in Mining Market Size and Volume Forecast by Type
10.7.1. Software
10.7.2. Hardware
10.7.3. Solutions
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Digitalization in Mining Demand Share Forecast, 2019-2026
11. Europe Digitalization in Mining Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Digitalization in Mining Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Digitalization in Mining Market Size and Volume Forecast by Application
11.4.1. Underground Mining
11.4.2. Open-Pit Mining
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Digitalization in Mining Market Size and Volume Forecast by Type
11.7.1. Software
11.7.2. Hardware
11.7.3. Solutions
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Digitalization in Mining Demand Share, 2019-2026
12. Asia Pacific Digitalization in Mining Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Digitalization in Mining Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Digitalization in Mining Market Size and Volume Forecast by Application
12.4.1. Underground Mining
12.4.2. Open-Pit Mining
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Digitalization in Mining Market Size and Volume Forecast by Type
12.7.1. Software
12.7.2. Hardware
12.7.3. Solutions
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Digitalization in Mining Demand Share, 2019-2026
13. Middle East & Africa Digitalization in Mining Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Digitalization in Mining Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Digitalization in Mining Market Size and Volume Forecast by Application
13.4.1. Underground Mining
13.4.2. Open-Pit Mining
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Digitalization in Mining Market Size and Volume Forecast by Type
13.7.1. Software
13.7.2. Hardware
13.7.3. Solutions
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Digitalization in Mining Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Digitalization in Mining Market: Market Share Analysis
14.2. Digitalization in Mining Distributors and Customers
14.3. Digitalization in Mining Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Caterpillar Inc.
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. ABB
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Honeywell
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Wipro
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. IBM Services
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Hatch Ltd
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Hexagon Mining Inc.
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Rockwell
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Sandvik
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Cisco
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. BCG
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Siemens
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Performance International Pty Ltd
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook