The Latin America, Middle East and Africa Connected Mining Market would witness market growth of 13.3% CAGR during the forecast period (2022-2028).
The introduction of digital tail monitoring controls can save on-site expenditures while also contributing to the security solutions given by in-ground sensors and allowing numerous functions to be performed on a single screen. Several entities are adopting these solutions because of their extensive mining infrastructure and ease of adding new technology.
Many processes are involved in mining, including allocation of resources, transportation and logistics, equipment management, and more. Mining trucks, excavators, drills, conveyor belts, and other mining equipment are used to conduct these processes. These complex operations require a system to simplify and automate them so that everything goes smoothly and quickly.
Iran is one of the world's largest countries by land area and has enormous potential in certain areas that have been mostly unexplored owing to economic sanctions. All of that is about to change, due to the historic Iran-US agreement that is soon to be signed. Companies may be hesitant to make investments in the short term due to the uncertain social and political atmosphere, but as time passes, Iran will see an increase in foreign investment inflows. In the beginning, government assistance for foreign enterprises will be crucial. Several large-scale investment offers have already been made.
One of them is a $3 billion investment offered by India's National Aluminum Company, which is one of the country's oldest trading partners. The minerals found in this region is collectively making a significant portion of world’s mineral reserve, which makes it extremely important for the governments and mining companies to invest in advanced solutions like connected mining.
The Brazil market dominated the LAMEA Connected Mining Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $478.2 million by 2028. The Argentina market is estimated to grow at a CAGR of 13.9% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 13% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Connected Mining Market is Predict to reach $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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