The North America Connected Mining Market would witness market growth of 11.4% CAGR during the forecast period (2022-2028).
Connected mines are increasingly being acknowledged as the next phase in mining resource management and extraction. The key goal of implementing connected mining is to quicken the workers' mining process while maintaining the highest level of worker safety possible. In any mining environment, safety is paramount, and the development of the connected mining market is critical to establishing the safest means of extracting resources feasible. Using secure IP networks and multi-service networks, mining workers' safety, and efficiency may be maintained at a high level. They aid in achieving maximum operational efficiency in routine operations and can be sustained at that level for longer periods of time.
The North American continent, which includes the United States and Canada, is a substantial contributor to the connected mining market. The mining industry in the United States entails the extraction, beneficiation, and processing of naturally existing solid minerals from the earth. Minerals include industrial minerals such as potash, limestone, and other shattered rocks, and coal, metals such as iron, copper, or zinc.
Metals and other minerals are essential raw materials for the building and chemical industries, as well as the production of daily electronics and consumer items in the United States. For example, a modern computer requires the utilization of over 65 different minerals. In addition, coal accounts for roughly half of the electricity generated in the United States. The discovery of shale formations, combined with the world's dependency on oil and gas resources, has increased mining activity, notably in the oil and gas sector, to previously unheard-of levels.
The US market dominated the North America Connected Mining Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4,710.6 million by 2028. The Canada market is poised to grow at a CAGR of 13.9% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 12.9% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Solution Type, the market is segmented into Asset Tracking & Optimization, Industrial Safety & Security, Fleet Management, Workforce Management, Analytics & Reporting, and Others. Based on Application, the market is segmented into Exploration, Processing & Refining, and Transportation. Based on Deployment Mode, the market is segmented into On-premise and Cloud. Based on Mining Type, the market is segmented into Surface and Underground. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Connected Mining Market is Estimated to reach $21.9 Billion by 2028, at a CAGR of 6.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, IBM Corporation, SAP SE, Cisco Systems, Inc., Schneider Electric SE, Komatsu Ltd., Hexagon AB, Caterpillar, Inc., Rockwell Automation, Inc., and Siemens AG.
By Component
By Application
By Deployment Mode
By Mining Type
By Country
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