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Connected Mining Market

Connected Mining Market Size by Type (Surface Mining, & Underground Mining), Service (Consulting, System Integration, & Support & Maintenance), Component, Solution, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12719
  • Published Date: Apr, 2022
  • Pages: 236
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global connected mining market is expected to reach USD 45.46 billion by 2030, at a CAGR of 17.5% from 2022 to 2030. Connected mining market growth would be driven by increasing demand for safe, sustainable & green mining strategies, growing adoption & integration of smart technology with traditional mining equipment & machinery, and mining 4.0 facilitated by industrialization 4.0. Increasing application of connected mining to enhance efficiency and operations with smart analytics to gain a competitive edge will also drive the global connected mining market.

Market Overview:

The lithosphere, hydrosphere, and atmosphere make the biosphere on earth responsible for the presence of life. The lithosphere is the solid, rigid & outermost layer of the earth. It is the landmass and the ocean crust. The earth’s crust or the lithosphere consists of various ores. These ores have two or more types of minerals in different proportions. The minerals can be iron, calcium, phosphorus, magnesium, and carbon. The production of cars, computers, appliances, jewelry, or the construction of roads, bridges, houses need minerals. Minerals form a crucial and indispensable part of human life. The extraction of minerals from the earth's crust is called mining. Mining is predominantly the extraction of fossil fuels from the lithosphere. Strip mining, open-pit mining, mountaintop removal & high wall mining are a few types of mining practiced worldwide. The mining process involves exploration of mineral deposits, discovery, development, extraction, production, and reclamation of the minerals. All these methods and procedures are sought with safety & health concerns of mining workers, extensive capital investments, loss of biodiversity, deforestation, soil erosion & other environmental damages. Connected mining is the integration of technology, digitization & automation of the mining process, and mining data analytics to improve mining efficiency, reduce operation costs, & ensure the utmost safety of the workforce. Artificial intelligence, data analytics, robotics, the internet of things, & remote monitoring solutions are deployed in connected mining. Connected mining is the new age revolution ushering exponential benefits for the market players by reducing costs & improving the productivity of mining operations.

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Market Dynamics:

Drivers:
  • Mining 4.0

Industrialization 4.0 is the rapid advancement of technologies across sectors, the increasing adoption of artificial intelligence, cloud computing, the internet of things, cyber-physical systems & data analytics. Industrialization 4.0 is about digitization, automation & integration of technologies across sectors. Similarly, mining 4.0 is the automation, digitization, adoption & integration of technology into mining processes and methods. The utilization of smart connected devices in mining can enhance the production efficiency of mining and reduce the operational costs of extraction. The connectivity, integration & timely dissemination of information can ensure the security & optimal health of the workforce.

Restraints:
  • Environmental degradation

The overexploitation of natural resources has led to their depletion. The growing demands of the rising population and depleting natural resources create a supply deficit in the market. Miners need to go deeper inside the earth to extract minerals to meet the increasing demand. The costs increase directly & exponentially with the increase in depth. As the depth increases, the energy consumption to maintain air ventilation and favorable temperature for the workers to perform their tasks increases, which increases operational costs. The adoption of renewable energy sources and growing concerns about climate change discourage deep mining activities. These factors combined can hamper the growth of the market.

Opportunities:
  • Growing market competition

The competition amongst the market players is fierce for the same limited mineral resources. There is rising adoption of smart or connected mining in the industry to retain market share and gain a competitive advantage. Increasing market players' investments in the internet of things, IT infrastructure, and robotics to reduce operational costs and improve production efficiency will provide lucrative opportunities in the global connected mining market.

Challenges:
  • Lack of skilled labor

The operation & maintenance of automotive devices & processes used in connected mining requires skilled professionals. Traditional mining did not require extensive technological knowledge. The laborers who worked traditional mining systems & processes are not equipped with the skills needed to operate a connected mining industry; this skill gap will create challenges for the market players. Hiring skilled professionals to carry out smart mining can add to the operational costs of the market players, neutralizing the gains made from the adoption of smart mining.

Segmentation Analysis:

The global connected mining market has been segmented based on type, service, component, solution, and regions.

  • The type segment is divided into surface mining & underground mining. The underground mining segment dominated the market, with a market share of around 54% in 2021. Surface mining leaves visible destruction in the form of altered landscape, soil erosion, loss of biodiversity, & negative impacts on groundwater resources. Underground mining reduces these environmental damages, low cost & reduced exposure weather. Such advantages of underground mining over surface mining can be attributed to the greater market share of the latter in the mining industry.
  • The service segment is divided into consulting, system integration, & support & maintenance. Over the forecast period, the system integration is expected to grow at the fastest CAGR of 17.9%. The need to have uninterrupted connectivity for the flow of data & information from active sites to remote offices to facilitate real-time monitoring & predictive maintenance will contribute to the growth of this segment.
  • The component segment is divided into services, equipment, & software. In 2021, the services segment dominated the market, accounting for around 35% of global revenue. Since connected mining is still nascent, the automation & digitization of services is carried out first owing to ease of application and simple maintenance.
  • The solutions segment is divided into asset tracking & optimization, industrial safety & security, remote management solutions, smart analytics, control systems, & others. The industrial safety & security segment dominated the market, with a market share of around 23% in 2021. The increasing incidents of mining accidents leading to loss of life caused by poor safety measures, lack of monitoring & lack of preventive measures checking the integrity of active mining sites has led to growing regulatory pressure to improve safety & security standards in the industry.
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific region emerged as the largest market for the global connected mining market, with a 36% share of the market revenue in 2021.

  • The Asia Pacific currently dominates the connected mining market due to rapid urbanization and industrialization, facilitating increased adoption of technology & smart solutions. Asia-Pacific is expected to continue its dominance in the forecast period due to the adoption of new policies by the government, which is encouraging the establishment of new startups providing smart mining solutions to protect the workforce and the environment.

Asia Pacific Region Connected Mining Market Share in 2021 - 36%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global connected mining industry.

In November 2021, Hexagon launched a new technology platform called Power of One. The platform connects all the parts & processes of the mine from the pit to the pant. The connectivity and integration allow real-time monitoring, saving time and money for the company, enhancing production efficiency.

List of Key Market Players:

  • Rockwell Automation
  • ABB
  • Siemens
  • Accenture
  • Hexagon AB
  • Hitachi Group
  • Schneider Electric
  • Trimble Inc.
  • Cisco Systems, Inc.
  • SAP SE

Key Target Audience

  • Market Players
  • Investors
  • Original Equipment Manufacturers
  • Government Authorities
  • Consulting And Research Firm
  • Venture capitalists
  • Third-party knowledge providers
  • Value-Added Resellers (VARs)

Report Description:

  • Global Connected Mining Market, Industry Analysis, Trends, Analysis and Forecast, 2022 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2021 is considered as the base year of the report. 2019 and 2020 are the historic years, and 2022 to 2030 are the forecast years. The global connected mining market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each segment, region, and country catering to the global connected mining market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of connected mining based on type, service, component, solution, and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to the global connected mining market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global connected mining market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of the porter's five forces analysis coupled with SWOT analysis to provide business related data and information. Porter's five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company's growth and development to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the product (market related, i.e., global connected mining market) is covered to comprehend the adoption rate and evaluate the market size. 

Frequesntly Asked Questions

As per The Brainy Insights, the size of the connected mining market was valued at USD 10.65 billion in 2021 to USD 45.46 billion by 2030.

Global connected mining market is growing at a CAGR of 17.5% during the forecast period 2022-2030.

The global connected mining market has been segmented based on type, service, component, solution, and regions. The underground mining segment dominated the market in 2021.

Asia Pacific region emerged as the largest market for the connected mining.

The market's growth will be influenced by the advent of mining 4.0.

Environmental degradation could hamper the market growth.

Growing market competition will provide huge opportunities to the market.

Key players include Rockwell Automation, ABB, Siemens, Accenture, Hexagon AB, Hitachi Group, Schneider Electric, Trimble Inc., Cisco Systems, Inc., and SAP SE.

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  • Further segmentation of the market on the basis of type, application, end use, product, technology, method, process and any other segment depending on the market
  • Segmentation on the basis of any specific country or region
  • Any segment can be classified on the basis of application
  • Application segment can be further divided on the basis of companies
  • The companies profiled are not limited, we can incorporate additional companies of your choice
  • We can split the company market share on the basis of product, application and region
  • Report can be prepared for any specific country/region/segment
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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis by Type
          4.3.2. Market Attractiveness Analysis by Service
          4.3.3. Market Attractiveness Analysis by Component
          4.3.4. Market Attractiveness Analysis by Solution
          4.3.5. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Mining 4.0
    5.3. Restraints
          5.3.1. Environmental degradation
    5.4. Opportunities
          5.4.1. Growing market competition
    5.5. Challenges
          5.5.1. Lack of skilled labor

6. Global Connected Mining Market Analysis and Forecast, By Type
    6.1. Segment Overview
    6.2. Surface Mining
    6.3. Underground Mining

7. Global Connected Mining Market Analysis and Forecast, By Service
    7.1. Segment Overview
    7.2. Consulting
    7.3. System Integration
    7.4. Support & Maintenance

8. Global Connected Mining Market Analysis and Forecast, By Component
    8.1. Segment Overview
    8.2. Services
    8.3. Equipment
    8.4. Software

9. Global Connected Mining Market Analysis and Forecast, By Solution
    9.1. Segment Overview
    9.2. Asset Tracking & Optimization
    9.3. Industrial Safety & Security
    9.4. Remote Management Solutions
    9.5. Smart Analytics
    9.6. Control Systems
    9.7. Others

10. Global Connected Mining Market Analysis and Forecast, By Regional Analysis
    10.1. Segment Overview
    10.2. North America
          10.2.1. U.S.
          10.2.2. Canada
          10.2.3. Mexico
    10.3. Europe
          10.3.1. Germany
          10.3.2. France
          10.3.3. U.K.
          10.3.4. Italy
          10.3.5. Spain
    10.4. Asia-Pacific
          10.4.1. Japan
          10.4.2. China
          10.4.3. India
    10.5. South America
          10.5.1. Brazil
    10.6. Middle East and Africa
          10.6.1. UAE
          10.6.2. South Africa

11. Global Connected Mining Market-Competitive Landscape
    11.1. Overview
    11.2. Market Share of Key Players in the Connected Mining Market
          11.2.1. Global Company Market Share
          11.2.2. North America Company Market Share
          11.2.3. Europe Company Market Share
          11.2.4. APAC Company Market Share
    11.3. Competitive Situations and Trends
          11.3.1. Product Launches and Developments
          11.3.2. Partnerships, Collaborations, and Agreements
          11.3.3. Mergers & Acquisitions
          11.3.4. Expansions

12. Company Profiles
    12.1. Rockwell Automation
          12.1.1. Business Overview
          12.1.2. Company Snapshot
          12.1.3. Company Market Share Analysis
          12.1.4. Company Product Portfolio
          12.1.5. Recent Developments
          12.1.6. SWOT Analysis
    12.2. ABB
          12.2.1. Business Overview
          12.2.2. Company Snapshot
          12.2.3. Company Market Share Analysis
          12.2.4. Company Product Portfolio
          12.2.5. Recent Developments
          12.2.6. SWOT Analysis
    12.3. Siemens
          12.3.1. Business Overview
          12.3.2. Company Snapshot
          12.3.3. Company Market Share Analysis
          12.3.4. Company Product Portfolio
          12.3.5. Recent Developments
          12.3.6. SWOT Analysis
    12.4. Accenture
          12.4.1. Business Overview
          12.4.2. Company Snapshot
          12.4.3. Company Market Share Analysis
          12.4.4. Company Product Portfolio
          12.4.5. Recent Developments
          12.4.6. SWOT Analysis
    12.5. Hexagon AB
          12.5.1. Business Overview
          12.5.2. Company Snapshot
          12.5.3. Company Market Share Analysis
          12.5.4. Company Product Portfolio
          12.5.5. Recent Developments
          12.5.6. SWOT Analysis
    12.6. Hitachi Group
          12.6.1. Business Overview
          12.6.2. Company Snapshot
          12.6.3. Company Market Share Analysis
          12.6.4. Company Product Portfolio
          12.6.5. Recent Developments
          12.6.6. SWOT Analysis
    12.7. Schneider Electric
          12.7.1. Business Overview
          12.7.2. Company Snapshot
          12.7.3. Company Market Share Analysis
          12.7.4. Company Product Portfolio
          12.7.5. Recent Developments
          12.7.6. SWOT Analysis
    12.8. Trimble Inc.
          12.8.1. Business Overview
          12.8.2. Company Snapshot
          12.8.3. Company Market Share Analysis
          12.8.4. Company Product Portfolio
          12.8.5. Recent Developments
          12.8.6. SWOT Analysis
    12.9. Cisco Systems, Inc.
          12.9.1. Business Overview
          12.9.2. Company Snapshot
          12.9.3. Company Market Share Analysis
          12.9.4. Company Product Portfolio
          12.9.5. Recent Developments
          12.9.6. SWOT Analysis
    12.10. SAP SE
          12.10.1. Business Overview
          12.10.2. Company Snapshot
          12.10.3. Company Market Share Analysis
          12.10.4. Company Product Portfolio
          12.10.5. Recent Developments
          12.10.6. SWOT Analysis
 

List of Table

1. Global Connected Mining Market, By Type, 2019-2030 (USD Billion) 

2. Global Surface Mining Connected Mining Market, By Region, 2019-2030 (USD Billion) 

3. Global Underground Mining Connected Mining Market, By Region, 2019-2030 (USD Billion) 

4. Global Connected Mining Market, By Service, 2019-2030 (USD Billion) 

5. Global Consulting Connected Mining Market, By Region, 2019-2030 (USD Billion) 

6. Global System Integration Connected Mining Market, By Region, 2019-2030 (USD Billion) 

7. Global Support & Maintenance Connected Mining Market, By Region, 2019-2030 (USD Billion) 

8. Global Connected Mining Market, By Component, 2019-2030 (USD Billion) 

9. Global Services Connected Mining Market, By Region, 2019-2030 (USD Billion) 

10. Global Equipment Connected Mining Market, By Region, 2019-2030 (USD Billion) 

11. Global Software Connected Mining Market, By Region, 2019-2030 (USD Billion) 

12. Global Connected Mining Market, By Solution, 2019-2030 (USD Billion) 

13. Global Asset Tracking & Optimization Connected Mining Market, By Region, 2019-2030 (USD Billion) 

14. Global Industrial Safety & Security Connected Mining Market, By Region, 2019-2030 (USD Billion) 

15. Global Remote Management Solutions Connected Mining Market, By Region, 2019-2030 (USD Billion) 

16. Global Smart Analytics Connected Mining Market, By Region, 2019-2030 (USD Billion) 

17. Global Control Systems Connected Mining Market, By Region, 2019-2030 (USD Billion) 

18. Global Others Connected Mining Market, By Region, 2019-2030 (USD Billion) 

19. Global Connected Mining Market, By Region, 2019-2030 (USD Billion) 

20. North America Connected Mining Market, By Type, 2019-2030 (USD Billion) 

21. North America Connected Mining Market, By Service, 2019-2030 (USD Billion) 

22. North America Connected Mining Market, By Component, 2019-2030 (USD Billion) 

23. North America Connected Mining Market, By Solution, 2019-2030 (USD Billion) 

24. U.S. Connected Mining Market, By Type, 2019-2030 (USD Billion) 

25. U.S. Connected Mining Market, By Service, 2019-2030 (USD Billion) 

26. U.S. Connected Mining Market, By Component, 2019-2030 (USD Billion) 

27. U.S. Connected Mining Market, By Solution, 2019-2030 (USD Billion) 

28. Canada Connected Mining Market, By Type, 2019-2030 (USD Billion) 

29. Canada Connected Mining Market, By Service, 2019-2030 (USD Billion) 

30. Canada Connected Mining Market, By Component, 2019-2030 (USD Billion) 

31. Canada Connected Mining Market, By Solution, 2019-2030 (USD Billion) 

32. Mexico Connected Mining Market, By Type, 2019-2030 (USD Billion) 

33. Mexico Connected Mining Market, By Service, 2019-2030 (USD Billion) 

34. Mexico Connected Mining Market, By Component, 2019-2030 (USD Billion) 

35. Mexico Connected Mining Market, By Solution, 2019-2030 (USD Billion) 

36. Europe Connected Mining Market, By Type, 2019-2030 (USD Billion) 

37. Europe Connected Mining Market, By Service, 2019-2030 (USD Billion) 

38. Europe Connected Mining Market, By Component, 2019-2030 (USD Billion) 

39. Europe Connected Mining Market, By Solution, 2019-2030 (USD Billion) 

40. Germany Connected Mining Market, By Type, 2019-2030 (USD Billion) 

41. Germany Connected Mining Market, By Service, 2019-2030 (USD Billion) 

42. Germany Connected Mining Market, By Component, 2019-2030 (USD Billion) 

43. Germany Connected Mining Market, By Solution, 2019-2030 (USD Billion) 

44. France Connected Mining Market, By Type, 2019-2030 (USD Billion) 

45. France Connected Mining Market, By Service, 2019-2030 (USD Billion) 

46. France Connected Mining Market, By Component, 2019-2030 (USD Billion) 

47. France Connected Mining Market, By Solution, 2019-2030 (USD Billion) 

48. U.K. Connected Mining Market, By Type, 2019-2030 (USD Billion) 

49. U.K. Connected Mining Market, By Service, 2019-2030 (USD Billion) 

50. U.K. Connected Mining Market, By Component, 2019-2030 (USD Billion) 

51. U.K. Connected Mining Market, By Solution, 2019-2030 (USD Billion) 

52. Italy Connected Mining Market, By Type, 2019-2030 (USD Billion) 

53. Italy Connected Mining Market, By Service, 2019-2030 (USD Billion) 

54. Italy Connected Mining Market, By Component, 2019-2030 (USD Billion) 

55. Italy Connected Mining Market, By Solution, 2019-2030 (USD Billion) 

56. Spain Connected Mining Market, By Type, 2019-2030 (USD Billion) 

57. Spain Connected Mining Market, By Service, 2019-2030 (USD Billion) 

58. Spain Connected Mining Market, By Component, 2019-2030 (USD Billion) 

59. Spain Connected Mining Market, By Solution, 2019-2030 (USD Billion) 

60. Asia Pacific Connected Mining Market, By Type, 2019-2030 (USD Billion) 

61. Asia Pacific Connected Mining Market, By Service, 2019-2030 (USD Billion) 

62. Asia Pacific Connected Mining Market, By Component, 2019-2030 (USD Billion) 

63. Asia Pacific Connected Mining Market, By Solution, 2019-2030 (USD Billion) 

64. Japan Connected Mining Market, By Type, 2019-2030 (USD Billion) 

65. Japan Connected Mining Market, By Service, 2019-2030 (USD Billion) 

66. Japan Connected Mining Market, By Component, 2019-2030 (USD Billion) 

67. Japan Connected Mining Market, By Solution, 2019-2030 (USD Billion) 

68. China Connected Mining Market, By Type, 2019-2030 (USD Billion) 

69. China Connected Mining Market, By Service, 2019-2030 (USD Billion) 

70. China Connected Mining Market, By Component, 2019-2030 (USD Billion) 

71. China Connected Mining Market, By Solution, 2019-2030 (USD Billion) 

72. India Connected Mining Market, By Type, 2019-2030 (USD Billion) 

73. India Connected Mining Market, By Service, 2019-2030 (USD Billion) 

74. India Connected Mining Market, By Component, 2019-2030 (USD Billion) 

75. India Connected Mining Market, By Solution, 2019-2030 (USD Billion) 

76. South America Connected Mining Market, By Type, 2019-2030 (USD Billion) 

77. South America Connected Mining Market, By Service, 2019-2030 (USD Billion) 

78. South America Connected Mining Market, By Component, 2019-2030 (USD Billion)

79. South America Connected Mining Market, By Solution, 2019-2030 (USD Billion)

80. Brazil Connected Mining Market, By Type, 2019-2030 (USD Billion) 

81. Brazil Connected Mining Market, By Service, 2019-2030 (USD Billion) 

82. Brazil Connected Mining Market, By Component, 2019-2030 (USD Billion) 

83. Brazil Connected Mining Market, By Solution, 2019-2030 (USD Billion)

84. Middle East and Africa Connected Mining Market, By Type, 2019-2030 (USD Billion) 

85. Middle East and Africa Connected Mining Market, By Service, 2019-2030 (USD Billion) 

86. Middle East and Africa Connected Mining Market, By Component, 2019-2030 (USD Billion) 

87. Middle East and Africa Connected Mining Market, By Solution, 2019-2030 (USD Billion)

88. UAE Connected Mining Market, By Type, 2019-2030 (USD Billion) 

89. UAE Connected Mining Market, By Service, 2019-2030 (USD Billion) 

90. UAE Connected Mining Market, By Component, 2019-2030 (USD Billion) 

91. UAE Connected Mining Market, By Solution, 2019-2030 (USD Billion)

92. South Africa Connected Mining Market, By Type, 2019-2030 (USD Billion) 

93. South Africa Connected Mining Market, By Service, 2019-2030 (USD Billion) 

94. South Africa Connected Mining Market, By Component, 2019-2030 (USD Billion) 

95. South Africa Connected Mining Market, By Solution, 2019-2030 (USD Billion) 

List of Figures 

1. Global Connected Mining Market Segmentation

2. Connected Mining Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Connected Mining Market Attractiveness Analysis by Type

9. Global Connected Mining Market Attractiveness Analysis by Service

10. Global Connected Mining Market Attractiveness Analysis by Component

11. Global Connected Mining Market Attractiveness Analysis by Solution

12. Global Connected Mining Market Attractiveness Analysis by Region

13. Global Connected Mining Market: Dynamics

14. Global Connected Mining Market Share by Type (2022 & 2030)

15. Global Connected Mining Market Share by Service (2022 & 2030)

16. Global Connected Mining Market Share by Component (2022 & 2030)

17. Global Connected Mining Market Share by Regions (2022 & 2030)

18. Global Connected Mining Market Share by Company (2021)

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global connected mining market based on below mentioned segments:

Global Connected Mining Market by Type:

  • Surface Mining
  • Underground Mining

Global Connected Mining Market by Service:

  • Consulting
  • System Integration
  • Support & Maintenance

Global Connected Mining Market by Component:

  • Services
  • Equipment
  • Software 

Global Connected Mining Market by Solution:

  • Asset Tracking & Optimization
  • Industrial Safety & Security
  • Remote Management Solutions
  • Smart Analytics
  • Control Systems
  • Others

Global Connected Mining Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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