The global Digital Underground Mining Market It's interesting to note that the market size was USD 11.69 Billion in 2020 and is expected to register a revenue CAGR of 13.5% during the forecast period. Rising concerns regarding the safety of Underground Mining workers, the need for real-time analysis, and the increasing application of automation platforms in Underground Mining industries are some of the key factors driving the market's revenue growth. Digital Underground Mining, which involves the application of computerized digital technology in Underground Mining activities, helps Underground Mining companies minimize overall Underground Mining costs, enhance business productivity, and upgrade Underground Mining practices. The use of advanced technology such as 3D modeling, unmanned vehicles, and remote control systems has significantly improved Underground Mining exploration methods and made Underground Mining operations safer and more efficient.
Digital Underground Mining also applies several advanced technologies such as automation & robotics, real-time analytics, cybersecurity, and others. Automation & robotics technology allows Underground Mining companies to minimize human labor requirements and automate Underground Mining activities by using physical machines and software. Automation & robotics segment accounted for largest revenue share in the global market in 2020. Increasing application of automation and robotics due to various advantages such as less labor requirement, enhanced efficiency, and low time requirement are some key factors driving revenue growth in this segment.
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Mining operations indeed take place in dangerous and harsh environments, exposing workers to various health risks such as dust, smoke, toxic chemicals, heat, and noise. These hazards can have detrimental effects on workers' well-being and safety.
The increasing concerns regarding workers' health and workplace safety have led to a greater focus on implementing technologies that can mitigate these risks. Strict regulations and rules related to mining activities have also played a significant role in driving the adoption of digital mining solutions. These regulations aim to ensure the safety of workers and minimize the negative impacts of mining operations on the environment.
Digital mining technologies have emerged as a solution to address these challenges. Advanced technologies, such as Internet of Things (IoT) devices, sensors, automation systems, and analytics software, are being deployed in mining operations to monitor and control various aspects of the mining process. These technologies provide real-time insights and predictive capabilities, enabling early detection of potential safety hazards and the ability to take proactive measures to prevent accidents or incidents.
By leveraging these digital mining technologies, mining companies can improve the overall safety and health conditions for workers. Real-time monitoring and analytics help in identifying and mitigating risks promptly, reducing the likelihood of accidents and health issues. This increased focus on worker safety and the adoption of digital solutions in mining operations are expected to drive the demand for digital mining technologies in the future.
It's important to note that this information is based on the knowledge available up until September 2021, and the digital mining market may have evolved further since then.
Some leading companies operating in the global Digital Underground Mining Market:
Caterpillar, Sandvik AB, SAP, Schneider Electric, Rockwell Automation, Inc., GE, Siemens, Komatsu Underground Mining Corp., IBM, and Bentley Systems.
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The global market is further segmented into type and application:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Underground Underground Mining
- Underground Underground Mining
Technology Outlook (Revenue, USD Billion; 2018-2028)
- Automation & Robotics
- Real-Time Analytics
Application Outlook (Revenue, USD Billion; 2018-2028)
- Iron & Ferro Alloys
- Non-Ferrous Metals
- Precious Metals
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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