Dublin, April 08, 2025 (GLOBE NEWSWIRE) -- The "Connected Mining Market Report 2025" has been added to ResearchAndMarkets.com's offering.

The connected mining market size has grown rapidly in recent years. It will grow from $15.31 billion in 2024 to $17.37 billion in 2025 at a compound annual growth rate (CAGR) of 13.4%. The growth in the historic period can be attributed to increased resource extraction demands, advances in sensor technologies, cost reduction pressures, remote monitoring and control needs, safety and environmental regulations.

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. North America was the largest region in the connected mining market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The connected mining market size is expected to see rapid growth in the next few years. It will grow to $31.45 billion in 2029 at a compound annual growth rate (CAGR) of 16%. The growth in the forecast period can be attributed to increased focus on sustainability and ESG practices, rising energy costs and environmental concerns, growing demand for minerals and metals, need for improved safety and productivity, rising energy costs and environmental concerns. Major trends in the forecast period include digital twin technology in mining operations, edge computing for real-time data processing, robotics and automation in mining processes, blockchain for transparent and secure transactions, cloud-based platforms for collaborative mining operations.

Increasing demand for digitalization is expected to propel the growth of the connected mining market going forward. For instance, in May 2022, according to the International Business Machines Corporation (IBM), a US-based technology company, 35% of businesses worldwide used artificial intelligence (AI) in 2022, which is an increase of 4% from 2021. In addition, there was a 13% increase in organizations adopting artificial intelligence (AI) in 2022 compared to 2021. Therefore, the increasing demand for digitalization is driving the connected mining market growth.

The increasing demand for metals and minerals is expected to drive the growth of the connected mining market. For example, in July 2023, the International Energy Agency reported strong growth in demand for critical minerals, with lithium demand rising by 30%, and demand for nickel, cobalt, graphite, and rare earth elements increasing by 8% to 15%. Additionally, China's overseas mining investments, particularly in battery metals like lithium and cobalt, reached a record $10 billion in the first half of 2023, continuing a decade-long growth trend. Consequently, the rising demand for metals and minerals is propelling the expansion of the connected mining market.

Leading companies in the connected mining market are focusing on advancing digital technologies, such as IoT and data analytics, to improve operational efficiency, safety, and sustainability. In September 2024, ABB Ltd., a Switzerland-based automation company, introduced a new suite of service offerings: ABB Care for Mining Automation and ABB Care for Hoisting. These services are designed to shift mining operations from traditional reactive maintenance to proactive solutions, improving productivity and operational health while minimizing downtime. ABB's Care framework provides preventive services to ensure smooth and efficient operations in mining.

Report Scope

Markets Covered:

1) By Component: Solution; Services
2) By Mining Type: Surface; Underground
3) By Deployment Mode: On-premises; Cloud
4) By Application: Exploration; Processing and Refining; Transportation

Subsegments:

1) By Solution: Asset Tracking And Optimization; Industrial Safety And Security; Analytics And Reporting; Process Control; Operational Performance; Quality Optimization Solutions
2) By Services: Professional Services; Managed Services

Key Companies Profiled: ABB Ltd.; International Business Machines Corporation (IBM); SAP SE; Cisco Systems Inc.; Schneider Electric SE

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time Series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.

Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.

Reasons to Purchase:

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Key Attributes

Major Companies Featured in this Connected Mining Market Report

• ABB Ltd.
• International Business Machines Corporation (IBM)
• SAP SE
• Cisco Systems Inc.
• Schneider Electric SE
• Caterpillar Inc.
• Komatsu Ltd.
• Hitachi Construction Machinery Co. Ltd.
• Hexagon AB
• Sandvik AB
• Epiroc AB
• Wenco International Mining Systems Ltd.
• MineWare Pty Ltd.
• RPMGlobal Holdings Limited
• Siemens AG
• Rockwell Automation Inc.
• Trimble Inc.
• OSIsoft LLC
• Maptek Pty Ltd.
• Dassault Systemes SE
• IntelliSense. io Ltd.
• Motion Metrics International Corp.
• MST Global Pty Ltd.
• Fluidmesh Networks LLC
• Swift Navigation Inc.
• MineSense Technologies Ltd.
• Micromine Pty Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/a7kqzt

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