The global digital mining market size is expected to reach USD 20.0 billion by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 13.2% over the forecast period. Growing adoption of automation platforms in mining exploration activities is projected to remain a key factor over the forecast period.
The global digital mining market size is expected to reach USD 20.0 billion by 2025, according to a new report by Grand View Research, Inc., registering a CAGR of 13.2% over the forecast period. Growing adoption of automation platforms in mining exploration activities is projected to remain a key factor over the forecast period.
The mining sector is witnessing a prominent growth owing to the increased penetration of digitization for activities including mineral exploration to downstream sales. Moreover, it assists in safety and health and reduces the environmental impact in the sector. Automation and robotics in this sector are likely to offer numerous opportunities owing to the growing replacement of human-controlled machinery with digital hardware enabled tools.
Komatsu is a leading mining and construction equipment provider and is also known for the development of new and innovative mining platforms. In September 2019, Komatsu announced a collaboration with BHP for its Pilbara operations in Western Australia. Under this deal, Komatsu will deploy 41 automated haul trucks at iron operations in Pilbara.
The non-ferrous metals segment is expected to register the highest CAGR of 13.6% from 2019 to 2025. Global demand for rechargeable batteries and electric vehicles is expected to drive the growth of the non-ferrous mining sector. In addition, this sector is also witnessing increased spending on digital solutions. For instance, Hindustan Zinc, a leading player in the zinc industry, has collaborated with Sandvik to boost its productivity through digitization of operations and activities.
Artificial Intelligence, Blockchain, and digital twin are some of the key technologies that are projected to attract new investments in the market. Recently, MineHub Technologies launched a new IBM blockchain-based platform to improve logistics and operational efficiency and reduce costs in the high value mineral supply chain.
