The global digital mining market size is anticipated to reach $18,11-billion by 2030, registering a CAGR of 9,8% from 2024 to 2030, according to a new report by Grand View Research.
Rising adoption of automation platforms in mining exploration activities is projected to remain a key factor driving the market growth.
The mining sector is witnessing a prominent growth owing to 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.
The non-ferrous metals segment is expected to register the highest CAGR of 10,1% from 2024 to 2030. Global demand for rechargeable batteries and electric vehicles (EVs) is expected to drive the growth of the non-ferrous mining sector.
In addition, this sector is witnessing increased spending on digital solutions. Artificial intelligence (AI), blockchain, and digital twins are some of the key technologies that are projected to attract new investments in the market.
Highlights of the Digital Mining Market report include:
* In 2023, the automation & robotics segment had the highest revenue share. The need to improve the safety of workers and increase productivity during mining is expected to benefit market growth.
* The iron and ferroalloys segment accounted for a market share of over 35% in 2023. A rise in the production of steel and related products and growing consumer demand result in increased digital investments in this segment.
* The precious metals segment is projected to register a CAGR of 9% from 2024 to 2030. Increasing spending by gold companies on digitization of exploration activities is driving the segment growth.
* Asia Pacific is projected to continue its dominance growing at a CAGR of 10,9% over the forecast period. The expansion of the mining sector and increasing adoption of digital technologies are the key factors driving the regional market growth.