Global Mining Automation Market: Industry Outlook, Growth Prospects and Key Opportunities

 Infinium Global Research recent report on the Mining Automation Market (By Solutions (Software Automation, Equipment Automation, and Services); By Application (Mineral Mining, Metal Mining, and Coal Mining); By Technique (Underground Mining Automation and Surface Mining Automation): Industry Analysis, Trends, Size, Share and Forecasts up to 2030 provides a comprehensive outline of the factors responsible for the growth of the market. The global mining automation market was valued at over USD 2.6 billion in 2022 and is expected to reach about USD 4.4 billion in 2030, with a CAGR of more than 6% during the forecast period 2023-2030.

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Mining companies are adopting new strategies to strengthen their competitiveness, by fostering an adaptive and responsive culture. Through the implementation of automation, these companies can synchronize their demand chain, enhance customer service, and drive sales and profits. In response to the challenges of declining mineral resources and aging mines, autonomous systems are being deployed to assist manned vehicles with real-time location information, collision warnings, and other features that simplify driving. The rapid advancements in robotics, artificial intelligence (AI), and machine learning (ML) are facilitating greater automation in production processes, resulting in increased efficiency. By harnessing the capabilities of AI and ML, businesses can develop predictive models that can identify potential mineral deposits in areas that share similar characteristics.

The Open Funnel Segment Holds a Significant Market Share in the Mining Automation Market

Based on Solutions, the Mining Automation Market is segmented into Software Automation, Equipment Automation, and Services. Among these, the Software Automation segment holds a significant market share in the Mining Automation Market. The software automation segment is the major contributor to the mining automation market and is projected to grow significantly in the forecast period. Mining software automation enables administrators to increase accountability, identify productivity bottlenecks, and gain better insight into their return on investment. By automating processes with software, the mining industry can operate without the need for human labor. Rio Tinto Group's Mine Automation System (MAS), which uses 3D visualization and VR to extract minerals from deep within the earth, is an example of how automation software can reduce environmental hazards associated with mining.

Equipment automation in mining comprises autonomous trucks, remote control equipment, and teleoperated mining. Autonomous trucks are self-driving trucks equipped with Advanced Driver Assistance Systems (ADAS) technology, such as self-driving software with updated automatic gear changing, power steering systems, radar, and a stereo camera. Teleoperated mining involves cameras and sensors used for mining automation. Camera sensors and video surveillance employed in the mine environment automatically identify equipment with missing parts and offer better integration of robust video analytics and camera systems in automation tools such as process controllers and supervision systems. Autonomous Solutions Inc.'s Mobibus is an example of a mining automation solution that automates various mining equipment, such as dozers, excavators, rigid haulers, and articulated dump trucks.

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North America is A Significant Region in the Mining Automation Market

The global mining automation market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to witness substantial growth in mining automation due to the increasing awareness and implementation of automation in mining activities by leading mining companies. European countries are self-reliant in a wide range of minerals and metals, and they are promoting sustainable material value chains with a focus on environmental sustainability and socio-economic factors, which is driving the growth of mining automation.

The consumption of minerals and metals in the Asia Pacific region is significant, mainly due to the significant economic development in China and India. Government and private companies are investing heavily in improving mining activities, which is paving the way for the progressive adoption of mining automation in the region. The Middle East and Africa have abundant availability of metals and natural resources, making them a preferred locations for mining activities. Companies are deploying automated equipment for controlling and monitoring mining activities, which is expected to drive the market growth of mining automation.

Companies Operating in Mining Automation Market are Focusing

The global Mining Automation Market, which is highly competitive, consists of various market players. Some of the major market players include Atlas Copco AB, Autonomous Solutions Inc., Caterpillar, Hitachi Construction Machinery Co., Ltd., MST, Rockwell Automation, RPM Global Holdings Limited (RPMGlobal), Sandvik AB, Siemens, Trimble Inc. For instance, in February 2022, Atlas Copco Group launched a new range of underground mining loaders and trucks, featuring advanced automation and connectivity features to improve productivity and safety in mining operations.

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Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of mining automation.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company. 

 => Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.