Europe Digital Mining Market Trends, Drivers, Restraints, Opportunities and Forecast by 2029
The comprehensive industry research on “Europe Digital Mining Market” published by Data Bridge Market Research which includes growth analysis, regional marketing, challenges, opportunities, and drivers analyzed in the report. The transformation in the market landscape is analyzed in the superior Europe Digital Mining market report which is mainly observed due to the moves of key players or brands which include developments, product launches, joint ventures, mergers, and acquisitions that in turn change the view of the global face of the industry. Proficient and radiant forecasting techniques used in the report are identical in accuracy and correctness. The report provides classification by companies, region, type, and end-use industry. While preparing the Europe Digital Mining market research report, customer satisfaction has been kept on the utmost priority which makes clients rely on us confidently. Businesses can assertively use the data, statistics, research, and insights about the market covered in the superior market report to make decisions about business strategies and to achieve maximum return on investment (ROI).
The digital mining market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 13.2% in the forecast period of 2021 to 2028 and is expected to reach USD 28.88 million by 2028. Growing need for real-time analysis in the mining industry is acting as major factor for the growth of the digital mining market.
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Digital Mining Market Scope and Market Size
- On the basis of type, the digital mining market is segmented into solutions and services. In 2021, solutions segment held larger share in the market owing to surging demand to gather real-time data for effective decision making, ability to manage entire mining operations in a better way, high need to improve security of workers in the hazardous area, ongoing digital transformation across the mining industry and to enhance company’s performance and productivity.
- On the basis of components, the digital mining market has been segmented into connected worker, remote operations center, autonomous operations, integrated platforms, smart sensors, asset cyber security, advanced analytics and 3D printing. In 2021, connected worker segment held the largest share in the market attributed to communicate real-time data on tasks, workplans and progress reports.
- On the basis of metal type, the digital mining market has been segmented into iron and ferro alloys, non-ferrous metals and precious metals. In 2021, iron and ferro alloys segment held the largest share in the market as iron and ferro alloys compose a large part of the overall metals nowadays as the base metal is iron and also include carbon steel, alloy steel and others.
- On the basis of mining type, the digital mining market has been segmented into surface mining and underground mining. In 2021, surface mining segment is dominating the market owing to its several advantages as compared to underground mining such as cost-effectiveness, recover more of the resource, usually up to 100% within the mining excavation, is safer and can use larger-scale mining equipment offering higher production rates.
- On the basis of technology, the digital mining market has been segmented into automation and robotics, internet of things (IoT), big data, retail time analytics, AI, spatial, geographic information systems, automated drones, cybersecurity, blockchain and others. In 2021, automation and robotics segment held the largest share in the market as automation and robotics plays a significant role in the mining process in speeding production, improving safety and reducing costs.
- On the basis of application, the digital mining market has been segmented into maintenance planning, frontline mobility solutions, geo-fencing safety and others. In 2021, frontline mobility solutions segment held major share in the market owing to high adoption to enable frontline workers and supervisors to safely perform in tough mining conditions and deploy technologies in order to improve employee safety, performance management and visibility—particularly underground.
Europe Digital mining Market Country Level Analysis
The countries covered in the Europe digital mining market report are the U.K., Germany, France, Spain, Italy, Netherlands, Switzerland, Russia, Belgium, Turkey and Rest of Europe.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Digital Mining Market Share Analysis
The major players covered in the Europe digital mining market report are ABB, Siemens, Rockwell Automation, Inc., SAP SE, Wipro Limited, Wencomine (a subsidiary of Hitachi Construction Machinery Co., Ltd.), Cisco, Caterpillar, General Electric, Sandvik AB, Hexagon AB (a subsidiary of HEXAGON), IBM Corporation, Hatch Ltd., Wabtec Corporation, Komatsu Mining Corp. (a subsidiary of Komatsu Ltd.), Accenture, Trimble Inc., Schneider Electric, BENTLEY SYSTEMS, INCORPORATED and Tech Mahindra Limited among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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