The Europe Connected Mining Market would witness market growth of 11.6% CAGR during the forecast period (2022-2028).
Mining has been a crucial reason behind the rapid growth of human civilization in the last few centuries. Even now, mining is a substantial part of the world’s economy, employing a huge number of people and extracting materials that are used as raw materials in plenty of products. The Fourth Industrial Revolution has evolved into an "intelligent society" that is now affecting all industries. Digital solutions have established themselves in day-to-day mining operations, and additional mines and mining locations are expected to benefit.
Mining companies in emerging countries have encountered an increasing number of hurdles in recent years, including price volatility, the need to dig deeper to unearth new resources, and a skills shortage. To address these issues, many mining companies have turned to digital transformation. The market is focusing on transforming traditional mines into smart mines that are more efficient, secure, and productive by employing modern technologies.
Germany has a flourishing mining industry with around 800 million metric tons of materials mined in 2019 and 2020. Crushed rock, lignite, sand, and gravel make up for the majority of the component mined. There is a large number of gravel and sand mining sites in the country. Along with this, Germany is also performing well in the production of minerals. Through ventilation monitoring or capnograph evaluation of target people, healthcare providers can detect prospective breathing difficulties early on. Real-time monitoring of various respiratory parameters aids healthcare workers in deciding on treatment options for patients and enables prompt intervention when an unfavorable respiratory event occurs.
The Rhineland coalfield in North Rhine Westphalia contains 55 billion tons of brown coal (also known as lignite), making it one of Europe's most important energy hubs. The lignite is mined in enormous open-pit mines, leaving large amounts of land affected. From the early planning to the final restoration of land and subsequent use, the German reclamation technique is distinguished by planning and carrying out the mining process as one continuous process.
The Germany market dominated the Europe Connected Mining Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,318.6 million by 2028. The UK market is exhibiting a CAGR of 10.7% during (2022 - 2028). Additionally, The France market would experience a CAGR of 12.4% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Connected Mining Market Size will Hit $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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