North America Digital Mining Market, By Type (Solutions and Services), Components (Smart Sensors, Autonomous Operations, 3D Printing, Connected Worker, Remote Operations Center, Asset Cyber Security, Integrated Platforms and Advanced Analytics), Metal Type (Iron and Ferro Alloys, Non-Ferrous Metals and Precious Metals), Mining Type (Surface Mining and Underground Mining), Technology (Automation and Robotics, Internet of Things (IoT), Big Data, Retail Time Analytics, AI, Spatial, Geographic, Information Systems, Automated Drones, Cybersecurity, Blockchain and Others), Application (Maintenance Planning, Frontline Mobility Solutions, Geo-Fencing Safety and Others), Country (U.S., Canada, Mexico) Industry Trends and Forecast to 2028
Market Analysis and Insights: North America Digital Mining Market
The digital mining market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 14.3% in the forecast period of 2021 to 2028 and is expected to reach USD 31,453.164 million by 2028. Growing need for real-time analysis in the mining industry is acting as major factor for the growth of the digital mining market.
Digital mining refers to carrying out mine activities with a digital touch. It includes various solutions and services which are developed to optimize and manage mine operations and production activities. Digital mining helps to automate various mine activities such as record management, data storage, monitoring, and streamline production activities, supply chain management, asset management, risk management and others.
Due to increasing accidents and fatalities, the manufacturers are focusing on the safety concerns and therefore, implementing and installing various safety measures through digital mining to ensure safety of workers, mine plants and environment which is driving the growth of the digital mining market. Digital mining requires high implementation cost due to which small and medium enterprises hardly afford for their business lines which is restraining the digital mining market growth. Emergence of internet of things creates need to adopt digital mining which is an opportunity for the growth of the digital mining market. Adoption of digital mining with lack of technical expertise is a challenge for the digital mining market growth as countries were facing problems of technical skilled labourers due to growing technology and innovation.
This digital mining market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the digital mining market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Digital Mining Market Scope and Market Size
The digital mining market is segmented on the basis of type, components, metal type, mining type, technology and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the digital mining market is segmented into solutions and services. In 2021, solutions segment held larger share in the market owing to surging demand to gather real-time data for effective decision making, ability to manage entire mining operations in a better way, high need to improve security of workers in the hazardous area, ongoing digital transformation across the mining industry and to enhance company’s performance and productivity.
- On the basis of components, the digital mining market has been segmented into connected worker, remote operations center, autonomous operations, integrated platforms, smart sensors, asset cyber security, advanced analytics and 3D printing. In 2021, connected worker segment held the largest share in the market attributed to communicate real-time data on tasks, workplans and progress reports.
- On the basis of metal type, the digital mining market has been segmented into iron and ferro alloys, non-ferrous metals and precious metals. In 2021, iron and ferro alloys segment held the largest share in the market as iron and ferro alloys compose a large part of the overall metals nowadays as the base metal is iron and also include carbon steel, alloy steel and others.
- On the basis of mining type, the digital mining market has been segmented into surface mining and underground mining. In 2021, surface mining segment is dominating the market owing to its several advantages as compared to underground mining such as cost-effectiveness, recover more of the resource, usually up to 100% within the mining excavation, is safer and can use larger-scale mining equipment offering higher production rates.
- On the basis of technology, the digital mining market has been segmented into automation and robotics, internet of things (IoT), big data, retail time analytics, AI, spatial, geographic information systems, automated drones, cybersecurity, blockchain and others. In 2021, automation and robotics segment held the largest share in the market as automation and robotics plays a significant role in the mining process in speeding production, improving safety and reducing costs.
- On the basis of application, the digital mining market has been segmented into maintenance planning, frontline mobility solutions, geo-fencing safety and others. In 2021, frontline mobility solutions segment held major share in the market owing to high adoption to enable frontline workers and supervisors to safely perform in tough mining conditions and deploy technologies in order to improve employee safety, performance management and visibility—particularly underground.
North America Digital mining Market Country Level Analysis
North America digital mining market is analysed and market size information is provided by the country, type, mining type, metal type, components, technology and application.
The countries covered in the North America digital mining market report are the U.S., Canada and Mexico.
The U.S. dominates the North America digital mining market owing to the factors such as increasing focus towards digitization of mining industries and favourable support from the government towards the implementation of digital mining.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand of Digital Mining
The digital mining market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in digital mining and changes in regulatory scenarios with their support for the digital mining market. The data is available for historic period 2011 to 2019.
Competitive Landscape and Digital Mining Market Share Analysis
The digital mining market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to North America digital mining market.
The major players covered in the North America digital mining market report are ABB, Siemens, Rockwell Automation, Inc., SAP SE, Wipro Limited, Wencomine (a subsidiary of Hitachi Construction Machinery Co., Ltd.), Cisco, Caterpillar, General Electric, Sandvik AB, Hexagon AB (a subsidiary of HEXAGON), IBM Corporation, Hatch Ltd., Wabtec Corporation, Komatsu Mining Corp. (a subsidiary of Komatsu Ltd.), Accenture, Trimble Inc., Schneider Electric, BENTLEY SYSTEMS, INCORPORATED and Tech Mahindra Limited among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of digital mining market.
For instance,
- In June 2020, Wencomine entered into a partnership and signed a Memorandum of Understanding (MOU) with Oxbotica to develop an open autonomy solution for mining. This new joint platform will allow customers to choose many open standards-based vehicles and integrate it into their existing operations. This will help the company to enhance their offerings and to grow in the market.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for digital mining through expanded range of size.
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